ECONOMY | Staff Reporter, Hong Kong

RMB deposits dipped 0.4% to RMB532.8b

Overall foreign-currency deposits inched up 0.3%.

Renminbi deposits in Hong Kong decreased 0.4% to RMB532.8 billion in August while overall foreign-currency deposits rose 0.3%, the Monetary Authority announced.

Total deposits with authorised institutions decreased 0.2%, while Hong Kong-dollar deposits decreased 0.7%.

The total remittance of renminbi for cross-border trade settlement was RMB336 billion, compared with RMB329.6 billion in July.

Total loans and advances rose 0.2% in August.

Loans for use in Hong Kong went up 0.2%, 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 78.3% at the end of August from 77.2% a month earlier.

Seasonally adjusted Hong Kong-dollar M1 edged up 0.5% in August and expanded 12.1% year-on-year.

Unadjusted Hong Kong-dollar M3 decreased 0.6% in August and rose 13.1% year-on-year.

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