Hong Kong Monetary Authority: Hong Kong dollar money supply M2 and M3 both increased 0.8% in June

The Zhitong Finance App learned that on July 31, statistics published by the Hong Kong Monetary Authority showed that total deposits of authorized institutions increased by 0.1% in June 2026. Among them, Hong Kong dollar deposits increased by 0.9%, while foreign currency deposits decreased by 0.5%. Total deposits and HKD deposits increased by 4.9% and 5.3% respectively in the first half of 2026. RMB deposits in Hong Kong fell 3.6% in June to RMB 1,093.5 billion at the end of June. The total amount of RMB remittance for cross-border trade settlements was RMB 1,277.7 billion in June, compared to RMB 1,129.6 billion in May. Deposit changes are affected by many factors, including interest rate trends, market fund-raising activities, etc., so it is appropriate to observe long-term trends without overinterpreting individual monthly fluctuations.

Total loans and advances rose 1.3% in June and 6.4% in the first half of 2026. Among them, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong increased by 1.4% and 1.0% respectively in June. As HKD loans increased more than HKD deposits, the HKD loan-to-deposit ratio increased from 71.0% at the end of May to 71.5% at the end of June.

Loans used in Hong Kong (including trade finance) increased 3.0% month-on-month in the second quarter of 2026, following a 3.0% increase in the previous quarter. According to economic use analysis, the increase in these loans in the second quarter was mainly driven by loans to financial companies and loans to the manufacturing industry.

Both M2 and M3 of the Hong Kong dollar money supply increased by 0.8% in June, and both increased by 2.6% compared with the same period last year. The seasonally adjusted Hong Kong dollar money supply M1 fell 1.0% in June, down 3.0% compared with the same period last year, partly reflecting investment-related activities. The total money supply M2 and M3 both increased by 0.1% in June. Compared with the same period last year, M2 and M3 both increased 9.2%.