Holdings by deposit-taking institutions of commercial paper issued by companies in Hong Kong also rose rapidly, by 61.9% during the first half of this year. At the end of June, the outstanding value of such commercial paper amounted to HK$6.6 billion. The increased use of various kinds of bills and notes by large corporations as a source of funds contributed to such rapid growth.
3.11
Competition for loans among lending institutions remained keen during the first half of
of 1986. Home mortgage loans, for example, continued to bear terms which were quite attractive to home buyers. In addition, an increasing number of lending institutions were willing to offer personal loans, including overdraft facilities, to individual customers in various ways.
3.12
Loans and advances to finance Hong Kong's visible trade recovered from their low level in late 1985. During the first half of this year, these loans grew by 9.8%. Other loans for use outside Hong Kong also grew, by 8.8%.
3.13
first half of 1986,
second half of 1985.
category reached $247 billion
Loans for use in Hong Kong grew by 5.1% during the after an increase of 2.3% during the The total of outstanding loans in this (10). of at the end of June
/this
(10)
As at end of
Analysis of Loans for Use in Hong Kong (HK$Mn)
Manu- Wholesale
Building,
construction Purchase of*
facturing and retail and property residential
trade development property
sector
Others Total
1985 Q1
2828
19,411
27,709
46,710
26,255
103,999 224,084
Q2 19,754 28,629
45,578
27,966
107,651 229,577
Q3 20,419 28,444
43,712
29,973
111,334 233,882
04 19,726
29,540
40,080
31,522
114,075 234,943
1986 Q1
21,191
32,460
37,944
32,875
116,185 240,655
Q2 22,294
31,577
36,466
35,699 121,001 247,037
* Loans extended to purchase residential property other than buying flats
in the Home Ownership Scheme and Private Sector Participation Scheme.
27
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