Monetary Statistics for April 2025

According to statistics published today (30 May) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.6% in April 2025.  Among the total, Hong Kong dollar deposits decreased by 0.7%, while foreign currency deposits increased by 1.6% in April, mainly reflecting fund flows of corporates. In the year to end-April, total deposits and Hong Kong dollar deposits increased by 4.1% and 4.4% respectively.  Renminbi deposits in Hong Kong increased by 7.4% in April to RMB1,030.9 billion at the end of April, mainly reflecting fund flows of corporates.  The total remittance of renminbi for cross-border trade settlement amounted to RMB1,362.1 billion in April, compared with RMB1,184.0 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 decreased by 0.2% in April, while increased 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 0.1% and 0.3% respectively in April.  The Hong Kong dollar loan-to-deposit ratio remained virtually unchanged at 72.3% at the end of April, as Hong Kong dollar loans and Hong Kong dollar deposits decreased at a similar pace.

Hong Kong dollar M2 and M3 both decreased by 0.6% in April, while increased by 6.5% and 6.6% respectively when compared to a year ago.  The seasonally-adjusted Hong Kong dollar M1 decreased by 1.0% in April, while increased by 5.5% compared to a year ago, reflecting in part investment-related activities.  Total M2 and total M3 both increased by 0.7% in April.  Compared to a year earlier, total M2 and total M3 both increased by 9.3%.  

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

Annex

Hong Kong Monetary Authority
30 May 2025