RMB deposits up 5.8% in Hong Kong
china.org.cn / chinagate.cn, January 2, 2014 Adjust font size:
Renminbi deposits in Hong Kong climbed 5.8% to RMB827 billion in November, while overall foreign-currency deposits grew 1.3%, the Hong Kong Monetary Authority said on Tuesday.
Total deposits with authorised institutions increased 1% in November, while Hong Kong-dollar deposits rose 0.8%. The total remittance of renminbi for cross-border trade settlement was RMB439.4 billion, compared with RMB315.3 billion in October.
Total loans and advances grew 0.9% in November. Loans for use in Hong Kong including trade finance rose 0.6%, while loans for use outside Hong Kong expanded 1.5%. As Hong Kong-dollar loans increased at a slower rate than deposits, the Hong Kong-dollar loan-to-deposit ratio edged down to 81.4% at the end of November from 81.9% at the end of October.
Seasonally adjusted Hong Kong-dollar M1 grew 1.6% in November and expanded 12.7% year-on-year. Unadjusted Hong Kong-dollar M3 increased 0.8% during the month, and grew 7.4% from a year earlier.
