Bank deposits rose by a measly 1.8%

Overall foreign currency deposits grew 1.6%.

According to the Monetary Authority , total deposits with authorised institutions increased 1.8% in December, and Hong Kong dollar deposits expanded 1.9%, reflecting increases in demand and savings.

Overall foreign currency deposits grew 1.6%, and renminbi deposits in Hong Kong increased 5.6% to RMB603 billion.

The total renminbi remittance for cross-border trade settlement amounted to RMB264.1 billion, compared with RMB243 billion in the previous month.

Total loans and advances rose 1.5%. As Hong Kong dollar loans increased at a slower rate than deposits, the Hong Kong dollar loan-to-deposit ratio declined to 79.8% at the end of December from 80.7% a month earlier.

Seasonally adjusted Hong Kong dollar M1 rose 2.1% in December, and expanded 15.8% year-on-year. Unadjusted Hong Kong dollar M3 increased 1.9% during the month and expanded 12.1% from a year earlier.