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HK's total deposit up 1.1 pct in January

Xinhua, February 27, 2015 Adjust font size:

Total deposits with authorized institutions in Hong Kong went up by 1.1 percent in January 2015, Hong Kong Monetary Authority announced Friday.

According to statistics published Friday by the authority, as the increase in demand and time deposits exceeded the decrease in savings deposits, Hong Kong-dollar deposits increased by 1.6 percent during the month.

Overall foreign-currency deposits grew by 0.6 percent in January. Renminbi deposits in Hong Kong decreased by 2.2 percent to 981.4 billion yuan (about 156.51 billion U.S. dollars) at the end of January.

The total remittance of renminbi for cross-border trade settlement amounted to 548.0 billion yuan in January 2015, compared with 657.8 billion yuan in December 2014.

Total loans and advances grew by 1.2 percent in January, within which loans for use in Hong Kong (including trade finance) rose by 1.6 percent and loans for use outside Hong Kong edged up by 0.3 percent.

As Hong Kong-dollar loans increased at a slower pace than deposits, the Hong Kong-dollar loan-to-deposit ratio declined to 82.5 percent at the end of January from 83.3 percent at the end of December 2014.

Seasonally adjusted Hong Kong-dollar M1 rose by 2.9 percent in January and expanded by 18.5 percent year on year. Seasonally unadjusted Hong Kong-dollar M3 increased by 1.6 percent in January and rose by 10.3 percent from a year earlier. (1 U.S. dollar = 6. 27 yuan) Endi