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The following is issued on behalf of the Hong Kong Monetary Authority:
According to statistics published today (October 31) by the Hong Kong Monetary Authority, total deposits with authorised institutions increased by 1.3% in September. Hong Kong-dollar deposits expanded by 2.0% during the month, reflecting increases in demand, savings and time deposits. Overall foreign-currency deposits grew by 0.6% in September, while renminbi deposits in Hong Kong declined by 1.2% to RMB545.7 billion. The total remittance of the renminbi for cross-border trade settlement amounted to RMB239.3 billion in September, compared with RMB254.2 billion in the previous month.
Total loans and advances rose by 1.2% in September. Loans for use in Hong Kong grew by 0.8% and loans for use outside Hong Kong expanded by 2.2%. As Hong Kong-dollar loans increased at a slower rate than deposits, the Hong Kong-dollar loan-to-deposit ratio declined to 81.3% at the end of September from 82.4% a month ago.
In the third quarter of 2012, loans for use in Hong Kong rose by 1.6%, broadly the same pace as in the previous quarter. Analysed by economic use, the quarterly expansion in loans was led by trade finance, residential mortgage loans, loans to wholesale and retail trade and loans for building, construction, property development and investment.
Seasonally adjusted Hong Kong-dollar M1 increased by 0.4% in September and expanded by 10.2% year on year. Unadjusted Hong Kong-dollar M3 rose by 2.1% during the month and expanded by 10.9% from a year earlier.
Release Schedule of Monetary Statistics in Hong Kong
The monthly release schedule of monetary statistics in Year 2013 is as follows.
Reference Month Release Date
January 2013 February 28, 2013
February 2013 March 28, 2013
March 2013 April 30, 2013
April 2013 May 31, 2013
May 2013 June 28, 2013
June 2013 July 31, 2013
July 2013 August 30, 2013
August 2013 September 30, 2013
September 2013 October 31, 2013
October 2013 November 29, 2013
November 2013 December 31, 2013
December 2013 January 30, 2014
Ends/Wednesday, October 31, 2012
Issued at HKT 17:53
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