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HK's Renminbi deposit rises 1.4 pctHong Kong's Renminbi deposit expanded by 1.4 percent to 627.3 billion yuan at the end of November 2011, according to statistics published Friday by the city's Monetary Authority. The figures showed the total remittance of Renminbi for cross-border trade settlement amounted to 184.99 billion yuan in November, compared with 161.46 billion yuan in October. Hong Kong's total deposits with authorized institutions increased by 0.8 percent in November. HK dollar deposits rose by 0.4 percent during the month. Foreign-currency deposits also climbed by 1.3 percent in November. Total loans and advances grew by 1.2 percent in November. Loans for use in Hong Kong rose by 0.8 percent and loans for use outside Hong Kong expanded by 2.1 percent. As HK dollar loans increased at a faster rate than deposits, the HK dollar loan-to-deposit ratio climbed from 84.7 percent at the end of October to 85.5 percent at the end of November. Seasonally adjusted HK dollar M1 rose by 0.8 percent in November and increased by 3.2 percent year on year. Unadjusted Hong Kong-dollar M3 expanded by 0.5 percent during the month and grew by 3.5 percent from a year earlier. (1 U.S. dollar = 6.29 yuan) Latest News |