Monetary Statistics for September 2021

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29 Oct 2021

Monetary Statistics for September 2021

According to statistics published today (29 October) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.7% in September 2021. Among the total, Hong Kong dollar deposits and overall foreign currency deposits increased by 0.3% and 1.1% respectively. In the year to end-September, total deposits and Hong Kong dollar deposits grew by 3.4% and 2.3% respectively. Renminbi deposits in Hong Kong increased by 1.6% to RMB855.9 billion at the end of September. The total remittance of renminbi for cross-border trade settlement amounted to RMB623.6 billion in September, compared with RMB626.1 billion in August.

Total loans and advances increased by 0.4% in September, and picked up by 5.0% in the year to end-September. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong went up by 0.4% and 0.3% respectively. The Hong Kong dollar loan-to-deposit ratio increased to 84.7% at the end of September from 84.2% at the end of August, as Hong Kong dollar loans increased at a faster pace than Hong Kong dollar deposits.

In the third quarter of 2021, loans for use in Hong Kong (including trade finance) decreased by 3.6% following growth of 5.7% in the previous quarter. Analysed by economic use, the decrease in loans during the third quarter was mainly led by loans to stockbrokers.

Hong Kong dollar M2 and M3 both increased by 0.4% in September, but both dropped by 1.9% compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 increased by 0.7% in September, but grew by 12.5% compared to a year ago, reflecting in part investment-related activities. Total M2 and M3 both grew by 0.8% in September, and rose by 1.4% from a year earlier. Large-scale IPO activities at the end of September 2020 led to an increase in deposits that resulted in a high base effect on the year-on-year growth of money supply. Excluding the deposits created by the IPO-related loans, Hong Kong dollar M2 and M3 in September increased by 2.9% and 2.8% respectively compared to a year ago; total M2 and M3 both picked up by 3.9% from a year earlier.

As monthly monetary statistics are subject to volatilities due to a wide range of transient factors, such as seasonal and IPO-related funding demand as well as business and investment-related activities, caution is required when interpreting the statistics.




Hong Kong Monetary Authority
29 October 2021


Release Schedule of Monetary Statistics in Hong Kong

The monthly release schedule of monetary statistics in Year 2022 is as follows.

Reference Month

Release Date

January 2022

28 February 2022

February 2022

31 March 2022

March 2022

29 April 2022

April 2022

31 May 2022

May 2022

30 June 2022

June 2022

29 July 2022

July 2022

31 August 2022

August 2022

30 September 2022

September 2022

31 October 2022

October 2022

30 November 2022

November 2022

30 December 2022

December 2022

31 January 2023

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Last revision date : 29 October 2021