Monetary Statistics for October 2010

Press Releases

30 Nov 2010

Monetary Statistics for October 2010

According to statistics published today (Tuesday) by the Hong Kong Monetary Authority, total deposits with authorized institutions rose by 4.6% in October 2010. With demand, savings and time deposits increasing, Hong Kong-dollar deposits increased by 6.3% during the month, partly reflecting buoyant fund raising activity in the equity market. Foreign-currency deposits also expanded by 2.6% in October. Accounting for around 8.1% of foreign-currency deposits, renminbi deposits in Hong Kong surged by 45.4% to RMB217.1 billion at the end of October, mainly attributed to an increase in renminbi receipts by corporate customers through trade settlement transactions. The total remittance of renminbi for cross-border trade settlement has increased from RMB 30.0 billion in September to RMB 68.6 billion in October.

Total loans and advances climbed by 1.8% in October. Loans for use in Hong Kong expanded by 1.8% and loans for use outside Hong Kong grew by 2.0%. As Hong Kong-dollar loans rose at a slower rate than deposits, the Hong Kong-dollar loan-to-deposit ratio declined to 73.6% at the end of October from 77.6% at the end of September.

Seasonally adjusted Hong Kong-dollar M1 rose by 1.4% in October and expanded by 12.7% year on year. Unadjusted Hong Kong-dollar M3 increased by 5.9% during the month and climbed by 14.7% from a year earlier.


For media enquiries, please contact:
Peggy Lo, Manager (Communications), at 2878 1687 or
Yokee Wong, Manager (Communications), at 2878 1213

Hong Kong Monetary Authority
30 November 2010

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Last revision date : 30 November 2010