ENG-1998 — Page 546

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APPENDICES

APPENDIX 18

(Chapter 5: Financial and Monetary Affairs)

Money Supply (

(1)

$ Million

As at end of year

1996

1997

1998

Money supply (definition 1)

HK$

198,311

188,135

178,261

Foreign currency

(2)

19.149

19,958

19,397

Total

217,460

208,093

197,658

Money supply (definition 2)

HK$ (3)

1,503,603

1,652,473

1,814,504

Foreign currency

(2), (4)

1,028,633

1,090,520

1,251,979

Total

2,532,236

2,742,993

3,066,482

Money supply (definition 3)

HK$ (3)

1,520,461

1,670,379

1,826,636

Foreign currency

(2), (4)

1,091,176

1,155,230

1,296,102

Tota!

2,611,636

2,825,609

3,122,738

%

Growth rate during the year

1996

1997

1998

Money supply (definition 1)

HK$

15.5

-5.1

-5.2

Foreign currency

(2)

1.7

4.2

-2.8

Overall

14.2

-4.3

-5.0

Money supply (definition 2)

HK$ (3)

19.3

9.9

9.8

Foreign currency

(2), (4)

0.6

6.0

14.8

Overall

10.9

8.3

11.8

Money supply (definition 3)

HK$ (3)

Foreign currency

(2), (4)

Overall

18.9

9.9

9.4

0.5

5.9

12.2

10.5

8.2

10.5

Notes: (1) Figures represent the position as at end of February 1999 and are subject to revisions.

(2) Hong Kong dollar is the legal tender in the Hong Kong Special Administrative Region, as stated in ‘The Basic Law of the Hong Kong Special Administrative Region of the People's Republic of China'. Foreign currency refers to any currency other than the Hong Kong currency. Accordingly Chinese Renminbi is also treated as foreign currency,

(3) Figures are adjusted to include foreign currency swap deposits.

(4) Figures are adjusted to exclude foreign currency swap deposits.

Source: Hong Kong Monetary Authority.

(Enquiry Telephone No.: 2878 8222)