Monetary Statistics for August 2026

According to statistics published today (30 September) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 1.4% in August 2026.  Among the total, Hong Kong dollar deposits and foreign currency deposits increased by 2.2% and 0.8% respectively in August.  In the year to end-August, total deposits and Hong Kong dollar deposits increased by 7.3% and 8.6% respectively.  Renminbi deposits in Hong Kong decreased by 2.1% in August to RMB1,101.5 billion at the end of August.  The total remittance of renminbi for cross-border trade settlement amounted to RMB1,537.6 billion in August, compared with RMB1,383.7 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 increased by 0.3% in August, and increased by 7.0% in the year to end-August.  Among the total, loans for use in Hong Kong (including trade finance) increased by 0.4%, while loans for use outside Hong Kong remained virtually unchanged in August.  The Hong Kong dollar loan-to-deposit ratio decreased to 69.3% at the end of August from 70.7% at the end of July, as Hong Kong dollar deposits increased at a faster pace than Hong Kong dollar loans.

Hong Kong dollar M2 and M3 both increased by 2.1% in August, and both increased by 9.9% when compared to a year ago.  The seasonally-adjusted Hong Kong dollar M1 increased by 3.5% in August, and increased by 4.7% compared to a year ago, reflecting in part investment-related activities.  Total M2 and total M3 both increased by 1.4% in August.  Compared to a year earlier, total M2 and total M3 both increased by 11.0%.  

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 2026