Monetary Statistics for May 2003

Press Releases

30 Jun 2003

Monetary Statistics for May 2003

According to statistics published today (Monday) by the Hong Kong Monetary Authority, total deposits with authorized institutions grew for the second consecutive month by 1.3% in May. The increase was broad-based, with Hong Kong dollar and foreign currency deposits rising by 1.4% and 1.2% respectively.

Total loans and advances rose by 0.3% in May. Of the total, loans for use in Hong Kong increased by 0.4%, while loans for use outside Hong Kong contracted by 0.2%. Analysed by currency, Hong Kong dollar denominated loans declined, while foreign currency loans recorded a small rise. The Hong Kong dollar loan-to-deposit ratio fell slightly to 87.4% in May.

On a seasonally adjusted basis, Hong Kong dollar M1 grew by 2.3% during the month and by 13.3% over a year ago. Unadjusted Hong Kong dollar M2 and M3 rose by 1.3% and 1.2% respectively during the month, but were 0.3% and 0.2% lower than a year ago.

For further enquiries, please contact:

Jasmin Fung, Manager (Press), at 2878 8246 or
Thomas Chan, Senior Manager (Press), at 2878 1480

Hong Kong Monetary Authority
30 June 2003


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Last revision date : 30 June 2003