Hong Kong Monetary Authority - Monetary Statistics for September 2018

Press Releases

31 Oct 2018

Monetary Statistics for September 2018

According to statistics published today (Wednesday) by the Hong Kong Monetary Authority, total deposits with authorized institutions grew by 0.6% in September 2018. Hong Kong-dollar deposits increased by 0.6% during the month, as the increase in time deposits exceeded the decrease in demand and savings deposits. Overall foreign-currency deposits also increased by 0.6% in September. Renminbi deposits in Hong Kong declined by 2.9% to RMB600.3 billion at the end of September. The total remittance of renminbi for cross-border trade settlement amounted to RMB348.8 billion in September, compared with RMB360.4 billion in August.

Total loans and advances edged down by 0.1% in September. Among the total, loans for use in Hong Kong (including trade finance) decreased by 0.2% from a month ago, while loans for use outside Hong Kong stayed virtually unchanged. The Hong Kong-dollar loan-to-deposit ratio edged down to 85.0% at the end of September from 85.1% at the end of August, as Hong Kong-dollar loans increased at a slower pace than Hong Kong-dollar deposits.

In the third quarter of 2018, loans for use in Hong Kong (including trade finance) declined by 1.2% following an increase of 1.7% in the previous quarter. Analysed by economic use, the decrease in loans during the third quarter was mainly led by trade finance, loans to financial concerns and loans to stockbrokers.

On a seasonally-adjusted basis, Hong Kong-dollar M1 declined by 1.5% in September and decreased by 0.3% year-on-year. Seasonally unadjusted Hong Kong-dollar M3 edged up by 0.5% during the month and grew by 4.3% from a year earlier.

Annex

Hong Kong Monetary Authority
31 October 2018