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RMB deposits up 0.2%

July 31, 2017

Renminbi deposits in Hong Kong edged up 0.2% to RMB526.1 billion in June while overall foreign-currency deposits rose 0.4%, the Monetary Authority announced today.


Total deposits with authorised institutions increased 0.9%, while Hong Kong-dollar deposits grew 1.4%.


The total remittance of renminbi for cross-boundary trade settlement was RMB372.5 billion, compared with RMB287.2 billion in May.


Total loans and advances rose 1.9% in June.


Loans for use in Hong Kong went up 2.6%, while loans for use outside Hong Kong grew 0.3%.


As Hong Kong-dollar loans grew at a faster pace than Hong Kong-dollar deposits, the Hong Kong-dollar loan-to-deposit ratio increased to 77.1% at the end of June from 75.9% a month earlier.


Seasonally adjusted Hong Kong-dollar M1 decreased 0.5% in June and expanded 12.9% year-on-year.


Unadjusted Hong Kong-dollar M3 increased 1.3% in June and rose 15.9% year-on-year.