Renminbi deposits in Hong Kong dropped 1.5% to RMB979 billion in August while overall foreign-currency deposits rose 2.1%, the Monetary Authority said today.
Total deposits with authorised institutions increased 1.2%, with Hong Kong-dollar deposits increasing 0.4%.
The total remittance of renminbi for cross-boundary trade settlement was RMB727.9 billion, compared to RMB583.6 billion in July.
Total loans and advances fell 0.4% in August. Loans for use in Hong Kong, including trade finance, rose 0.3%, while loans for use outside Hong Kong decreased 2.2%.
As Hong Kong-dollar loans decreased while Hong Kong-dollar deposits increased, the Hong Kong-dollar loan-to-deposit ratio fell to 78.5% at the end of August from 79.7% a month earlier.
Seasonally adjusted Hong Kong-dollar M1 increased 2.6% in August and expanded 15.5% year on year. Unadjusted Hong Kong-dollar M3 increased 0.3% in August and rose 10% from a year earlier.
