According to statistics published today (Friday) by the Hong Kong Monetary Authority, total deposits with authorized institutions edged down by 0.1% in July 2018. Hong Kong-dollar deposits edged up by 0.2% during the month, as the increase in time deposits exceeded the decline in demand and savings deposits. Overall foreign-currency deposits decreased by 0.4% in July. Renminbi deposits in Hong Kong rose by 3.9% to RMB607.6 billion at the end of July. The total remittance of renminbi for cross-border trade settlement amounted to RMB361.6 billion in July, compared with RMB345.7 billion in June.
Total loans and advances decreased by 0.3% in July. Among the total, loans for use in Hong Kong (including trade finance) declined by 0.6% from a month ago, while loans for use outside Hong Kong edged up by 0.2%. The Hong Kong-dollar loan-to-deposit ratio decreased to 85.1% at the end of July from 85.4% at the end of June, as Hong Kong-dollar loans declined while Hong Kong-dollar deposits edged up.
On a seasonally-adjusted basis, Hong Kong-dollar M1 declined by 1.2% in July but increased by 5.7% year-on-year. Seasonally unadjusted Hong Kong-dollar M3 edged up by 0.1% during the month but grew by 4.5% from a year earlier.
Hong Kong Monetary Authority
31 August 2018