According to statistics published today (31 July) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.9% in June 2025. Among the total, Hong Kong dollar deposits decreased by 0.9% while foreign currency deposits increased by 2.4% in June, mainly reflecting fund flows of corporates. For the first half of 2025 as a whole, total deposits and Hong Kong dollar deposits increased by 7.6% and 7.0% respectively. Renminbi deposits in Hong Kong decreased by 9.6% in June to RMB882.1 billion at the end of June, mainly reflecting fund flows of corporates. The total remittance of renminbi for cross-border trade settlement amounted to RMB1,223.5 billion in June, compared with RMB1,123.6 billion in May. 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 increased by 1.1% in June, and increased by 2.5% in the first half of 2025. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong increased by 0.9% and 1.8% respectively in June. The Hong Kong dollar loan-to-deposit ratio increased to 72.0% at the end of June from 70.5% at the end of May, as Hong Kong dollar deposits decreased while Hong Kong dollar loans increased.
For the second quarter of 2025 as a whole, loans for use in Hong Kong (including trade finance) increased by 1.6% after increasing by 0.5% in the previous quarter. Analysed by economic use, the increase in loans during the second quarter was mainly led by loans to financial concerns and loans to electricity and gas.
Hong Kong dollar M2 and M3 both decreased by 0.8% in June, while both increased by 8.4% when compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 increased by 4.4% in June and increased by 23.7% compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both increased by 0.8% in June. Compared to a year earlier, total M2 and total M3 both increased by 11.5%.
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
31 July 2025
