Renminbi deposits in Hong Kong increased 1.8% to RMB972.4 billion in May while overall foreign-currency deposits decreased 0.7%, the Monetary Authority said today.
Total deposits with authorised institutions grew 0.5%, with Hong Kong-dollar deposits increasing 1.8%.
The total remittance of renminbi for cross-boundary trade settlement was RMB492.5 billion, compared to RMB484.2 billion in April.
Total loans and advances rose 0.9% in May. Loans for use in Hong Kong, including trade finance, rose 1.4%, while loans for use outside Hong Kong stayed virtually unchanged.
As Hong Kong-dollar loans increased at a slower rate than Hong Kong-dollar deposits, the Hong Kong-dollar loan-to-deposit ratio declined to 77.9% at the end of May from 78.1% a month earlier.
Seasonally adjusted Hong Kong-dollar M1 rose 3.6% in May and expanded 20.3% year-on-year. Unadjusted Hong Kong-dollar M3 rose 1.7% in May and climbed 14.3% from a year earlier.
