According to statistics published today (Friday) by the Hong Kong Monetary Authority, total deposits with authorized institutions grew by 2.2% in January. Of the total, Hong Kong dollar deposits and foreign currency deposits rose by 2.7% and 1.6% respectively.
Total loans and advances grew by 3.0% in January, with loans for use in Hong Kong and outside Hong Kong rising by 3.0% and 3.2% respectively. The expansion in domestic loans was partly attributable to increased borrowings for purchasing new equity shares. Analysed by currency, Hong Kong dollar and foreign currency loans both increased. As Hong Kong dollar loans registered a larger rise than Hong Kong dollar deposits, the Hong Kong dollar loan-to-deposit ratio edged up to 82.3% in January.
On a seasonally adjusted basis, Hong Kong dollar M1 grew by 3.8% during the month and by 41.2% from a year ago. Unadjusted Hong Kong dollar M2 and M3 both rose by 3.0% during the month and by 9.3% and 9.0% respectively on a year-on-year comparison.
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
27 February 2004