According to statistics published today (30 January) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 1.2% in December 2025. Among the total, Hong Kong dollar deposits and foreign currency deposits increased by 0.4% and 1.7% respectively in December. For 2025 as a whole, total deposits and Hong Kong dollar deposits increased by 11.8% and 3.8% respectively. Renminbi deposits in Hong Kong decreased by 4.2% in December to RMB960.1 billion at the end of December, mainly reflecting fund flows of corporates. The total remittance of renminbi for cross-border trade settlement amounted to RMB1,177.4 billion in December, compared with RMB1,033.0 billion in November. 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 1.3% in December, and increased by 2.3% for 2025 as a whole. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong increased by 1.2% and 1.8% respectively in December. The Hong Kong dollar loan-to-deposit ratio decreased to 72.9% at the end of December from 73.2% at the end of November, as Hong Kong dollar deposits increased at a faster pace than Hong Kong dollar loans.
For the fourth quarter of 2025 as a whole, loans for use in Hong Kong (including trade finance) increased by 0.2% after decreasing by 0.4% in the previous quarter. Analysed by economic use, residential mortgage loans increased, while loans to building, construction, property development and investment decreased.
Hong Kong dollar M2 and M3 both increased by 0.4% in December, and both increased by 4.2% when compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 decreased by 2.0% in December, while increased by 11.7% compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both increased by 1.2% in December. Compared to a year earlier, total M2 and total M3 both increased by 11.6%.
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 January 2026
