Hong Kong Monetary Authority Reports September 2025 Monetary Statistics

In a recent report, the Hong Kong Monetary Authority (HKMA) disclosed that total deposits with authorized institutions experienced a notable rise of 1.3% in September 2025. This increase includes a 1.4% rise in Hong Kong dollar deposits and a 1.3% increase in foreign currency deposits, according to the HKMA.

Renminbi Deposits and Cross-Border Trade

Renminbi deposits in Hong Kong saw a significant increase of 3.5%, reaching RMB1,001.8 billion by the end of September. Additionally, the total remittance of renminbi for cross-border trade settlement surged to RMB1,123.2 billion, up from RMB996.9 billion in August. These figures underscore the growing role of the renminbi in international trade settlements.

Loan and Deposit Dynamics

Total loans and advances rose by 0.7% in September, contributing to a 1.6% increase for the year ending September. Loans for use in Hong Kong, including trade finance, and loans for use outside Hong Kong both saw increases of 0.6% and 0.7%, respectively. Meanwhile, the Hong Kong dollar loan-to-deposit ratio decreased to 73.6% from 74.6% in August, reflecting a steady increase in deposits while loans remained largely unchanged.

Monetary Aggregates

Both Hong Kong dollar M2 and M3 aggregates increased by 1.4% in September, showing a 4.5% increase compared to the previous year. The seasonally-adjusted Hong Kong dollar M1 decreased by 1.4% in the same month but showed an 11.5% increase year-over-year, partially driven by investment-related activities. The total M2 and M3 aggregates also increased by 1.3% in September, marking an 11.1% rise from the previous year.

Interpretation of Monthly Statistics

The HKMA cautions against over-interpreting monthly fluctuations in monetary statistics, as these figures can be influenced by various transient factors such as interest rate movements and seasonal funding demands. It is recommended to focus on longer-term trends for a more accurate assessment of the financial landscape.

For more detailed insights, the full report is available on the Hong Kong Monetary Authority website.

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