Monetary Statistics for November 2017

Press Releases

29 Dec 2017

Monetary Statistics for November 2017

According to statistics published today (Friday) by the Hong Kong Monetary Authority, total deposits with authorized institutions decreased by 2.2% in November 2017. As the decline in demand and time deposits exceeded the increase in savings deposits, Hong Kong-dollar deposits dropped by 6.4% during the month. Overall foreign-currency deposits increased by 2.5% in November. Renminbi deposits in Hong Kong expanded by 3.5% to RMB559.2 billion at the end of November. The total remittance of renminbi for cross-border trade settlement amounted to RMB440.5 billion in November, compared with RMB314.5 billion in October.

Total loans and advances went down by 3.0% in November. Excluding the initial public offering (IPO) loans (around HK$379 billion) straddling the end of October, the loan growth in November would have increased by 1.0%. Among the total, loans for use in Hong Kong (including trade finance) declined by 4.7% from a month ago while loans for use outside Hong Kong rose by 1.2%. As Hong Kong-dollar loans decreased at a slower pace than Hong Kong-dollar deposits, the Hong Kong-dollar loan-to-deposit ratio picked up to 81.0% at the end of November from 80.2% at the end of October.

Seasonally adjusted Hong Kong-dollar M1 decreased by 1.9% in November but expanded by 13.6% year on year. Seasonally unadjusted Hong Kong-dollar M3 went down by 5.9% during the month but rose by 11.6% from a year earlier.


Hong Kong Monetary Authority
29 December 2017

Latest Press Releases
Last revision date : 29 December 2017