Monetary Statistics for June 2015

According to statistics published today (Friday) by the Hong Kong Monetary Authority, total deposits with authorized institutions edged down by 0.1% in June 2015. As the expansion in demand and time deposits exceeded the decrease in savings deposits, Hong Kong-dollar deposits increased by 0.1% in June. Overall foreign-currency deposits decreased by 0.3%. Renminbi deposits in Hong Kong grew by 2.1% to RMB992.9 billion at the end of June. The total remittance of renminbi for cross-border trade settlement amounted to RMB592.9 billion in June, compared with RMB492.5 billion in May.

Total loans and advances increased by 2.7% in June, within which loans for use in Hong Kong (including trade finance) rose by 2.8% and loans for use outside Hong Kong grew by 2.6%. As Hong Kong-dollar loans increased at a faster rate than Hong Kong-dollar deposits, the Hong Kong-dollar loan-to-deposit ratio went up to 79.9% at the end of June from 77.9% at the end of May.

In the second quarter of 2015, loans for use in Hong Kong (including trade finance) decreased by 0.7% after rising by 5.5% in the earlier quarter. Analysed by economic use, the quarterly decline was led by loans to stockbrokers, electricity and gas, and information technology.

Seasonally adjusted Hong Kong-dollar M1 grew by 2.7% in June and expanded by 20.0% year on year. Seasonally unadjusted Hong Kong-dollar M3 edged up by 0.1% during the month and rose by 12.4% from a year earlier. 

Annex

Hong Kong Monetary Authority
31 July 2015