Monetary Statistics for November 2014

According to statistics published today (Wednesday) by the Hong Kong Monetary Authority, total deposits with authorized institutions grew by 0.4% in November 2014. As the decrease in demand and savings deposits exceeded the expansion in time deposits, Hong Kong-dollar deposits declined by 0.9% during the month. Overall foreign-currency deposits rose by 1.6% in November, and renminbi deposits in Hong Kong increased by 3.2% to RMB974.1 billion at the end of November. The total remittance of renminbi for cross-border trade settlement amounted to RMB532.8 billion in November, compared with RMB532.3 billion in October. 

Total loans and advances edged up by 0.1% in November. Loans for use in Hong Kong (including trade finance) went down by 0.5%, while loans for use outside Hong Kong grew by 1.4%. As Hong Kong-dollar loans decreased at a slower pace than deposits, the Hong Kong-dollar loan-to-deposit ratio edged up to 82.5% at the end of November from 82.4% at the end of October. 

Seasonally adjusted Hong Kong-dollar M1 declined by 4.4% in November and expanded by 9.2% year on year. Seasonally unadjusted Hong Kong-dollar M3 decreased by 0.7% in November and rose by 8.6% from a year earlier. 
 

Annex

Hong Kong Monetary Authority
31 December 2014