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31-Dec-2013

Renminbi deposits in Hong Kong climbed 5.8% to RMB827 billion in November, while overall foreign-currency deposits grew 1.3%, the Hong Kong Monetary Authority said today.

 

Total deposits with authorised institutions increased 1% in November, while Hong Kong-dollar deposits rose 0.8%. The total remittance of renminbi for cross-border trade settlement was RMB439.4 billion, compared with RMB315.3 billion in October.

 

Total loans and advances grew 0.9% in November. Loans for use in Hong Kong including trade finance rose 0.6%, while loans for use outside Hong Kong expanded 1.5%. As Hong Kong-dollar loans increased at a slower rate than deposits, the Hong Kong-dollar loan-to-deposit ratio edged down to 81.4% at the end of November from 81.9% at the end of October.  

 

Seasonally adjusted Hong Kong-dollar M1 grew 1.6% in November and expanded 12.7% year-on-year. Unadjusted Hong Kong-dollar M3 increased 0.8% during the month, and grew 7.4% from a year earlier.  

www.news.gov.hk