XN000022-1994-06-30 — Page 16

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THURSDAY, JUNE 30, 1994

HK$M2 DISPLAYED SIMILAR MOVEMENTS.

TOTAL M1 INCREASED YEAR-ON-YEAR BY 11.2%.

OWING TO THE DECLINE IN FOREIGN CURRENCY DEPOSITS, TOTAL M2 AND M3 HAD MUCH SLOWER GROWTH THAN THEIR HONG KONG DOLLAR

THEIR ANNUAL GROWTH RATES WERE 10.8% AND

TOTAL

COUNTERPARTS.

RESPECTIVELY.

11.3%

LOANS AND ADVANCES

THE HONG KONG DOLLAR LOAN-TO-DEPOSIT RATIO REMAINED UNCHANGED AT 114.0% IN MAY AS HONG KONG DOLLAR LOANS INCREASED AT THE SAME RATE AS HONG KONG DOLLAR DEPOSITS, AT 2.3%, DURING THE MONTH.

HOWEVER, THE YEAR-ON-YEAR GROWTH OF HONG KONG DOLLAR LOANS (+19.1%) REMAINED LOWER THAN THAT OF HKS DEPOSITS (+23.5%).

FOREIGN CURRENCY LOANS DECREASED BY 1.7% DURING THE MONTH. GREW BY 7.3% OVER A YEAR EARLIER.

IT

TOTAL OUTSTANDING LOANS AND ADVANCES EXTENDED BY AUTHORISED INSTITUTIONS DECREASED MARGINALLY BY 0.3% IN MAY BUT GREW BY 11.1% COMPARED TO A YEAR EARLIER.

AS

ANALYSED BY USAGE, THE YEAR-ON-YEAR GROWTH OF LOANS TO FINANCE VISIBLE TRADE (+16.4%) AND OTHER LOANS FOR USE IN HONG KONG (+18.7%) REMAINED STRONG.

IN

LOANS TO FINANCE VISIBLE TRADE RECORDED A SOLID GROWTH OF 4.1% MAY, FOLLOWING A 3.9% INCREASE IN APRIL. OTHER LOANS POR USE IN HONG KONG ROSE BY 2.0% IN MAY.

FURTHER INFORMATION

ENQUIRIES ON THE MONETARY STATISTICS FOR MAY 1994 MAY BE DIRECTED ΤΟ THE PRESS AND PUBLICATION SECTION, HONG AUTHORITY, ON TELEPHONE 878 1687.

KONG

MONETARY

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