Monetary Statistics for February 2026

According to statistics published today (31 March) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.9% in February 2026.  Among the total, Hong Kong dollar deposits decreased by 0.2%, while foreign currency deposits increased by 1.7% in February.  In the first two months of 2026, total deposits and Hong Kong dollar deposits increased by 0.9% and 1.2% respectively.  Renminbi deposits in Hong Kong increased by 3.6% in February to RMB1,029.3 billion at the end of February.  The total remittance of renminbi for cross-border trade settlement amounted to RMB866.5 billion in February, compared with RMB1,016.4 billion in January.  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 0.6% in February, and increased by 1.6% in the first two months of 2026.  Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong increased by 0.4% and 0.9% respectively in February.  The Hong Kong dollar loan-to-deposit ratio increased to 72.4% at the end of February from 72.3% at the end of January, as Hong Kong dollar deposits decreased at a faster pace than Hong Kong dollar loans.

Hong Kong dollar M2 and M3 increased by 0.2% and 0.1% respectively in February, and both increased by 2.1% when compared to a year ago.  The seasonally-adjusted Hong Kong dollar M1 increased by 0.2% in February, and increased by 12.6% compared to a year ago, reflecting in part investment-related activities.  Total M2 and total M3 both increased by 0.8% in February.  Compared to a year earlier, total M2 and total M3 both increased by 9.8%.  

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 March 2026