Monetary Statistics for August 2025

According to statistics published today (30 September) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.9% in August 2025.  Among the total, Hong Kong dollar deposits decreased by 2.1% while foreign currency deposits increased by 3.3% in August, mainly reflecting fund flows of corporates.  In the year to end-August, total deposits and Hong Kong dollar deposits increased by 8.7% and 2.6% respectively.  Renminbi deposits in Hong Kong increased by 3.2% in August to RMB968.0 billion at the end of August, mainly reflecting fund flows of corporates.  The total remittance of renminbi for cross-border trade settlement amounted to RMB996.9 billion in August, compared with RMB1,233.3 billion in July.  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 0.4% in August, while increased by 1.0% in the year to end-August.  Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong decreased by 0.1% and 1.3% respectively in August.  The Hong Kong dollar loan-to-deposit ratio increased to 74.6% at the end of August from 73.1% at the end of July, as Hong Kong dollar deposits decreased at a faster pace than Hong Kong dollar loans.

Hong Kong dollar M2 and M3 both decreased by 1.9% in August, while both increased by 4.0% when compared to a year ago.  The seasonally-adjusted Hong Kong dollar M1 decreased by 2.9% in August, while increased by 16.1% compared to a year ago, reflecting in part investment-related activities.  Total M2 and total M3 both increased by 0.7% in August.  Compared to a year earlier, total M2 and total M3 both increased by 10.4%.  

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 September 2025