Renminbi deposits up 7.5%

June 30, 2011

Total deposits with authorised institutions expanded by 0.6% in May, the Monetary Authority reported today, adding renminbi deposits in Hong Kong grew by 7.5% to RMB548.8 billion.
 
The total remittance of the renminbi for cross-border trade settlement amounted to RMB153.4 billion, compared to RMB134.2 billion in April.
 
Hong Kong-dollar deposits contracted slightly by 0.4% while foreign-currency deposits rose by 1.7%.
 
Total loans and advances climbed by 2.9% or $132 billion, of which about $24 billion was margin lending for initial public offerings straddling the end of May.