3.13
Of the loans for
local use
(12), loans extended
to
the manufacturing sector amounted to $23.8 billion or 9.1% of
the total, while loans to individuals for the purchase of
to $39.8 billion or 15.2% of
Compared with June 1986, these
6.6% and 11.6% respectively;
the corresponding growth rates
residential property amounted the total in September 1986.
two types of loans grew by
compared with September 1985,
were substantial, at 16.4% and 32.9%.
Interest rates
3.14
Interest rates in the United States generally followed a downtrend in the third quarter. Coupled with an inflow of funds, this has led to softer interest rates in the
local money market. The differential between the Hong Kong
dollar and US dollar interest rates widened towards the end
of the quarter. At the end of September, it was about one
percentage point in favour of the latter.
(12)
/3.15
Analysis of loans for use in Hong Kong ($HKMn)
Wholesale
Building, construction
Purchase of
As at end of
Manufac- and retail and property residential
turing
trade
development
property*
Others Total
1985 Q1
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
Q4 19,726
29,540
40,080
31,522
114,075 234,943
1986 Q1 21,191
32,460
37,944
32,875
Q2 22,294
31,577
36,466
Q3 23,773
34,708
37,635
(9.1)
(13.2)
(14.4)
116,185 240,655 35,699 121,001 247,037 39,835 (15.2)
126,107 262,058
(48.1) (100.0)
*
Loans extended for the purchase of residential property other than flats in the Home
the Home Ownership Scheme and Private Sector Participation Scheme.
( ) % share of total as at end-September 1986.
29
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