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Traditional ChineseSimplified ChineseText onlyPDA
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August 31, 2005

Finance

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Yuan deposits up 4.8%
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Monetary Authority

Total deposits with authorised institutions rose 0.6% in July, with Hong Kong dollar and foreign currency deposits up 0.7% and 0.4%, while yuan deposits rose 4.8% to RMB21.9 billion, the Monetary Authority says.

 

The number of licensed banks engaged in yuan business stood at 39.

 

Total loans and advances were little changed as a 0.6% decline in loans for use in Hong Kong was offset by a surge of 5.6% in loans for use outside Hong Kong.

 

Foreign currency loans rose 2.4% over June while Hong Kong dollar lending fell 0.7%. As Hong Kong dollar loans fell but Hong Kong dollar deposits rose, the loan-to-deposit ratio fell to 85.9% in July.

 

On a seasonally adjusted basis, Hong Kong dollar M1 grew 0.2% over June, but fell 3.9% from a year earlier. Unadjusted Hong Kong dollar M2 and M3 grew 0.7% and 0.8% over June, and 9.4% and 9.3% on a year-on-year comparison.



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