Renminbi deposits in Hong Kong increased 1.3% to RMB732.2 billion in May while overall foreign-currency deposits dropped 1.5%, the Monetary Authority said today.
Total deposits with authorised institutions decreased 0.6%, with Hong Kong-dollar deposits increasing 0.3%.
The total remittance of renminbi for cross-border trade settlement was RMB417.3 billion, compared to RMB358.1 billion in April.
Total loans and advances increased 1.1% in May. Loans for use in Hong Kong, including trade finance, grew 1.4%, while loans for use outside Hong Kong increased 0.5%.
As Hong Kong-dollar loans increased at a faster pace than Hong Kong-dollar deposits, the Hong Kong-dollar loan-to-deposit ratio went up to 78.5% at the end of May from 77.6% a month earlier.
Seasonally adjusted Hong Kong-dollar M1 increased 1.6% in May and rose 6.6% year on year. Unadjusted Hong Kong-dollar M3 grew by 0.3% in May and increased 1.4% from a year earlier.
