Money

Hong Kong's RMB deposits up 13.1% in April

(Xinhua)
Updated: 2011-06-01 10:14

HONG KONG - Hong Kong's RMB deposits climbed to 510.7 billion yuan ($65.66 billion) in April, up 13.1 percent from the previous month, said the Hong Kong Monetary Authority (HKMA) on Tuesday.

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In April, the total RMB remittance for cross-border trade settlement amounted to 134.2 billion yuan, compared to 115.4 billion yuan in March, said the HKMA.

Total deposits with authorized institutions in April rose 2.5 percent from March, while Hong Kong dollar deposits expanded 2.3 percent and foreign-currency deposits grew 2.8 percent, according to data released by the HKMA.

As Hong Kong dollar loans increased at a slower rate than deposits, the Hong Kong dollar loan-to-deposit ratio declined to 80.4 percent in April from 81.7 percent in March.