According to statistics published today (Wednesday) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 7.1% in September 2007. Hong Kong dollar demand deposits rose by 35.2%, reflecting vigorous initial public offering activities and increased stock market turnover. Renminbi deposits declined by 3.0% to RMB 27.5 billion yuan at the end of September.
Total loans and advances rose by 9.8% during the month, with both Hong Kong dollar and foreign currency loans increasing. Loans for use in Hong Kong and outside Hong Kong expanded by 10.6% and 5.9% respectively. As Hong Kong dollar loans and deposits grew at roughly the same rate, the Hong Kong dollar loan-to-deposit ratio remained unchanged at 72.9% at the end of September.
In the third quarter of 2007, loans for use in Hong Kong increased by 5.8%. Analysed by economic uses, most types of loans expanded and lending to stockbrokers registered a strong increase of 11.9%.
On a seasonally adjusted basis, Hong Kong dollar M1 increased by 4.5% in September and by 14.0% from a year earlier. Unadjusted Hong Kong dollar M2 and M3 both rose by 11.5% during the month. On a year-on-year comparison, Hong Kong dollar M2 and M3 grew by 28.4% and 28.3% respectively.
Release Schedule of Monetary Statistics in Hong Kong
The monthly release schedule of monetary statistics in Year 2008 is as follows.
Reference Month Release Date January 2008 29 February 2008 February 2008 31 March 2008 March 2008 30 April 2008 April 2008 30 May 2008 May 2008 30 June 2008 June 2008 31 July 2008 July 2008 29 August 2008 August 2008 30 September 2008 September 2008 31 October 2008 October 2008 28 November 2008 November 2008 31 December 2008 December 2008 30 January 2009
For further enquiries, please contact:
Peggy Lo, Manager (Press), at 2878 1687 or
Hing-fung Wong, Officer (Press), at 2878 1802
Hong Kong Monetary Authority
31 October 2007