Monetary Statistics for April 2022

Press Releases

31 May 2022

Monetary Statistics for April 2022

According to statistics published today (31 May) by the Hong Kong Monetary Authority, total deposits with authorized institutions decreased by 0.3% in April 2022. Among the total, Hong Kong dollar deposits decreased by 0.5%, while foreign currency deposits remained virtually unchanged. In the year to end-April, total deposits and Hong Kong dollar deposits grew by 0.8% and 1.6% respectively. Renminbi deposits in Hong Kong increased by 6.4% in April to RMB841.9 billion at the end of April. The total remittance of renminbi for cross-border trade settlement amounted to RMB742.5 billion in April, compared with RMB801.6 billion in March. It should be noted that changes in deposits are affected by a wide range of factors, such as interest rate movements and fund-raising activities. It is therefore more appropriate to observe the longer-term trends, and not to over-generalise fluctuations in a single month.

Total loans and advances declined by 0.7% in April, but rose by 0.5% in the year to end-April. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong decreased by 0.6% and 0.9% respectively in April. The Hong Kong dollar loan-to-deposit ratio increased to 85.6% at the end of April from 85.2% at the end of March, as Hong Kong dollar deposits decreased at a faster pace than Hong Kong dollar loans.

Hong Kong dollar M2 and M3 both declined by 0.4% in April, but both went up by 1.2% compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 decreased by 1.4% in April, but grew by 5.1% compared to a year ago, reflecting in part investment-related activities. Total M2 and M3 dropped by 0.3% and 0.2% respectively in April, but both increased by 3.7% 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.

Annex

 

Hong Kong Monetary Authority
31 May 2022

Latest Press Releases
Last revision date : 31 May 2022