Renminbi deposits in Hong Kong increased 0.1% to RMB994.1 billion in July while overall foreign-currency deposits increased 0.4%, the Monetary Authority said today.
Total deposits with authorised institutions dropped 0.2%, with Hong Kong-dollar deposits decreasing 0.8%.
The total remittance of renminbi for cross-boundary trade settlement was RMB583.6 billion, compared to RMB592.9 billion in June.
Total loans and advances fell 0.6% in July. Loans for use in Hong Kong, including trade finance, fell 0.9%, while loans for use outside Hong Kong increased 0.2%.
As Hong Kong-dollar loans decreased at a slightly faster rate than Hong Kong-dollar deposits, the Hong Kong-dollar loan-to-deposit ratio fell to 79.7% at the end of July from 79.9% a month earlier.
Seasonally adjusted Hong Kong-dollar M1 fell 3.2% in July but expanded 14% year on year. Unadjusted Hong Kong-dollar M3 went down 0.7% in July but climbed 9.2% from a year earlier.
