According to statistics published today (Thursday) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.5% in August, as a 1.1% rise in foreign currency deposits more than offset a fall of 0.1% in Hong Kong dollar deposits. Within foreign currency deposits, renminbi deposits amounted to RMB7.5 billion yuan in August, compared with RMB7.2 billion yuan in July.
Total loans and advances grew by 0.3% in August, with loans for use in Hong Kong and outside Hong Kong increasing by 0.3% and 1.0% respectively. Analysed by currency, Hong Kong dollar loans were virtually unchanged and foreign currency loans recorded a rise. As Hong Kong dollar loans were little changed but Hong Kong dollar deposits registered a small decline, the loan-to-deposit ratio increased marginally to 86.0% in August.
On a seasonally adjusted basis, Hong Kong dollar M1 rose by 0.5% in August and by 30.1% from a year ago. Unadjusted Hong Kong dollar M2 and M3 both were nearly unchanged during the month, but registered a small rise of 0.6% on a year-on-year comparison.
For further enquiries, please contact:
Kevin Ip, Manager (Press), at 2878 1687 or
Thomas Chan, Senior Manager (Press), at 2878 1480
Hong Kong Monetary Authority
30 September 2004