Hong Kong Monetary Authority: Hong Kong dollar money supply M2 and M3 both fell 0.8% in September

The Zhitong Finance App learned that on October 30, statistics published by the Hong Kong Monetary Authority showed that both M2 and M3 of the Hong Kong dollar money supply fell 0.8% in September, and both increased 7.5% compared with the same period last year. The seasonally adjusted Hong Kong dollar money supply M1 fell 0.6% in September, and rose 4.4% compared with the same period last year, partly reflecting investment-related activities. The total money supply M2 and M3 both increased by 0.4% in September. Compared with the same period last year, M2 and M3 increased by 10.1% and 10.0% respectively.

Total deposits of authorized institutions increased by 0.4% in September 2026. Among them, Hong Kong dollar deposits decreased by 1.1%, while foreign currency deposits increased by 1.6%, mainly reflecting corporate capital flows. From the beginning of the year to the end of September, total deposits and HKD deposits increased by 7.7% and 7.3% respectively. RMB deposits in Hong Kong rose 2.6% in September to RMB 1,129.9 billion at the end of September. The total amount of RMB remittance for cross-border trade settlements was RMB 1,289.6 billion in September, compared to RMB 1,103.8 billion in August.

Total loans and advances increased by 0.7% in September, up 7.7% from the beginning of the year to the end of September. Among them, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong increased by 0.7% and 0.6% respectively in September. As HKD loans rose and HKD deposits declined, the HKD loan-to-deposit ratio increased from 69.3% at the end of August to 70.3% at the end of September.

Loans used in Hong Kong (including trade finance) rose 0.8% quarterly in the third quarter of 2026, following a 3.0% increase in the previous quarter. According to economic use analysis, trade finance increased, while loans to construction, property development and investment declined.