XN000022-1993-08-31 — Page 2

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TUESDAY, AUGUST 31, 1993

MONETARY STATISTICS FOR JULY 1993

HONG

KONG DOLLAR DEPOSITS WITH AUTHORISED INSTITUTIONS INCREASED SIGNIFICANTLY DURING JULY 1993 UNDER THE INFLUENCE OF A HUGE SHARE FLOTATION EXERCISE, ACCORDING TO STATISTICS PUBLISHED TODAY (TUESDAY) BY THE HONG KONG MONETARY AUTHORITY.

CONSISTENT WITH THIS, THE BROADEST HONG KONG DOLLAR MONEY SUPPLY, M3, ROSE IN JULY. HONG KONG DOLLAR LOANS AND ADVANCES ALSO INCREASED DURING THE MONTH.

DEPOSITS

HONG KONG DOLLAR DEPOSITS WITH AUTHORISED INSTITUTIONS, ADJUSTED TO INCLUDE SWAP DEPOSITS, ROSE BY 4.5% IN JULY FOLLOWING INCREASE OF 1.4% IN MAY AND A DECREASE OF 0.2% IN JUNE.

AN

AMONG THESE DEPOSITS, DEMAND DEPOSITS DECREASED BY 3.9% WHILE SAVINGS DEPOSITS AND TIME DEPOSITS INCREASED BY 1.1% AND 8.8% RESPECTIVELY. YEAR-ON-YEAR, TOTAL HONG KONG DOLLAR DEPOSITS GREW BY

19.0%.

FOREIGN CURRENCY DEPOSITS WITH AUTHORISED INSTITUTIONS INCREASED BY 0.5% IN JULY, AFTER AN INCREASE OF 0.4% IN MAY AND A DECREASE OF 0.8% IN JUNE RESPECTIVELY.

OF THESE DEPOSITS, U.S. DOLLAR DEPOSITS ROSE BY 1.3% WHILE NON- U.S. DOLLAR FOREIGN CURRENCY DEPOSITS DECREASED BY 0.3%. YEAR-ON- YEAR, TOTAL FOREIGN CURRENCY DEPOSITS GREW BY 9.7%.

DURING JULY, DEPOSITS IN ALL CURRENCIES WITH LICENSED BANKS INCREASED BY 2.1% WHILE DEPOSITS WITH RESTRICTED LICENCE BANKS AND DEPOSIT-TAKING COMPANIES DECREASED BY 1.2% AND 0.1% RESPECTIVELY.

YEAR-ON-YEAR, DEPOSITS WITH LICENSED BANKS GREW BY 15. 2% WHILE DEPOSITS WITH RESTRICTED LICENCE BANKS AND DEPOSIT-TAKING COMPANIES DECLINED BY 23.0% AND 10.9% RESPECTIVELY.

MONEY SUPPLY

HKSM1 DECREASED BY 1.8% IN JULY WHILE HK$M2 AND HK$M3 INCREASED BY 4.3% AND 4.2% RESPECTIVELY.

THEIR CORRESPONDING GROWTH RATES IN JUNE WERE 5.3%, -0.1% AND -0.1% RESPECTIVELY. YEAR-ON-YEAR, THESE MONETARY AGGREGATES INCREASED BY 15.7%, 20.5% AND 19.1% RESPECTIVELY.

TOTAL M1 DECREASED BY 1.7% WHILE TOTAL M2 AND M3 INCREASED BY 2.4% AND 2.3% RESPECTIVELY IN JULY.

/THEIR CORRESPONDING