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Hong Kong : RMB deposits up 1.7%.

Overall foreign currency deposits rose 2.2% in October, while renminbi deposits in Hong Kong increased 1.7% to RMB554.8 billion, the Monetary Authority said today.

The total remittance of renminbi for cross-border trade settlement amounted to RMB195.4 billion in October, compared with RMB239.3 billion in the previous month.

Total deposits with authorised institutions grew 1.9% in October. As demand and savings deposits increased and time deposits were little changed, Hong Kong-dollar deposits rose 1.5% during the month.

Seasonally adjusted Hong Kong-dollar M1 increased 0.7% in October and climbed 13.3% year-on-year. Unadjusted Hong Kong-dollar M3 rose 1.4% during the month and expanded 10% from a year earlier.

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Publication:Mena Report
Article Type:Brief article
Geographic Code:9CHIN
Date:Dec 1, 2012
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