XN000022-1995-08-23 — Page 5

- 4

"The easing of the growth rate in July reflects the more subdued state of the property market and is in line with our expectations," said the Deputy Chief Executive (Banking) of HKMA, Mr David Carse.

The amount of new loans approved but not yet drawn increased slightly by $0.02 billion (0.4%) to $5.3 billion in July.

"This suggests that residential mortgage loans will continue to grow at a moderate rate in August," said Mr Carse.

Lending for the purchase of properties in China increased by 1.7% to $4.92 billion in July. Gross loans made in July increased both in number (to 175 from 109) and in amount (to $153 million from $68 million). New loans approved in July also rose both in number (to 270 from 204) and in amount (to $229 million from $144 million).