Monetary Statistics for July 2017

According to statistics published today (Thursday) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 1.0% in July 2017. As the increase in savings and demand deposits exceeded the decrease in time deposits, Hong Kong-dollar deposits expanded by 1.8% during the month. Overall foreign-currency deposits edged up by 0.2% in July. Renminbi deposits in Hong Kong increased by 1.6% to RMB534.7 billion at the end of July. The total remittance of renminbi for cross-border trade settlement amounted to RMB329.6 billion in July, compared with RMB372.5 billion in June.

Total loans and advances rose by 1.0% in July. Among the total, loans for use in Hong Kong (including trade finance) went up by 1.4% from a month ago while loans for use outside Hong Kong decreased by 0.1%. As Hong Kong-dollar loans grew at a faster pace than Hong Kong-dollar deposits, the Hong Kong-dollar loan-to-deposit ratio edged up to 77.2% at the end of July from 77.1% at the end of June.

Seasonally adjusted Hong Kong-dollar M1 grew by 1.9% in July and expanded by 13.6% year on year. Seasonally unadjusted Hong Kong-dollar M3 increased by 1.8% during the month and rose by 15.8% from a year earlier.

Annex

 
Hong Kong Monetary Authority
31 August 2017