Hong kong deposits increase in may 2024, renminbi deposits rise, loans decrease - hkma statistics show mixed trends
The following is issued on behalf of the Hong Kong Monetary Authority:
According to statistics published today (June 28) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 1.1per cent in May 2024. Among the total, Hong Kong dollar deposits and foreign currency deposits increased by 0.3per cent and 1.8per cent respectively in May. In the year to end-May, total deposits and Hong Kong dollar deposits grew by 3.2per cent and 0.9per cent respectively. Renminbi deposits in Hong Kong increased by 4.2per cent in May to RMB1,134.0 billion at the end of May, mainly reflecting fund flows of corporates. The total remittance of renminbi for cross-border trade settlement amounted to RMB1,183.2 billion in May, compared with RMB1,257.0 billion in April. It should be noted that changes in deposits are affected by a wide range of factors, such as interest rate movements and fund-raising activities. It is therefore more appropriate to observe the longer-term trends, and not to over-generalise fluctuations in a single month.
Total loans and advances decreased by 0.4per cent in May, and decreased by 2.4per cent in the year to end-May. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong decreased by 0.3per cent and 0.7per cent respectively in May. The Hong Kong dollar loan-to-deposit ratio decreased to 81.4per cent at the end of May from 82.1per cent at the end of April, as Hong Kong dollar deposits increased while Hong Kong dollar loans decreased.
Hong Kong dollar M2 and M3 both increased by 0.4per cent in May and both increased by 1.5per cent when compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 decreased by 0.1per cent in May and decreased by 8.4per cent compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both increased by 1.2per cent in May. Compared to a year earlier, total M2 and total M3 both increased by 7.8 per cent.
As monthly monetary statistics are subject to volatilities due to a wide range of transient factors, such as seasonal and IPO-related funding demand as well as business and investment-related activities, caution is required when interpreting the statistics.
Source: AI-generated images
2024 honours list and justices of the peace (jps) appointments revealed in government gazette - 502 honours awards and 59 jp appointments announced today.
The 2024 Honours List and Justices of the Peace (JPs) appointments are published in the Government Gazette today (July 1).
For the Honours List, a total of 502 persons have been awarded by the Chief Executive this year. Details are as follows:
Award |
Number |
(a) Grand Bauhinia Medal (GBM) |
5 |
(b) Gold Bauhinia Star (GBS) |
12 |
(c) Silver Bauhinia Star (SBS) |
24 |
(d) Distinguished Service Medals for the disciplined services and the ICAC |
14 |
(e) Bronze Bauhinia Star (BBS) |
40 |
(f) Meritorious Service Medals for the disciplined services and the ICAC |
46 |
(g) Medal of Honour (MH) |
105 |
(h) Chief Executive's Commendation for Community Service |
86 |
(i) Chief Executive's Commendation for Government/Public Service |
170 |
502 |
The citations of the award recipients of the 2024 Honours List are provided in Appendix 1.
A Government spokesman said, "The award recipients come from different walks of life with diverse backgrounds. They have made significant contributions to Hong Kong, benefitting various domains and sectors of the community, including public and community service, education, medical and public health, finance, trade and industry, innovation and technology, charity, arts and culture, sports, housing, transport, construction and urban development, environment, religion, labour and welfare, women and youth affairs, and professional services. The Chief Executive expresses gratitude and extends congratulations to all award recipients, and hopes that they will continue to excel in their own fields and serve the community."
The presentation ceremony for the awards will be held later this year.
Moreover, a total of 59 persons have been appointed as JPs by the Chief Executive, of whom 42 were appointed under section 3(1)(b) of the Justices of the Peace Ordinance (Cap. 510) (commonly referred to as Non-official JPs), and 17 were appointed under section 3(1)(a) of the same ordinance (commonly referred to as Official JPs).
The main function of JPs is to visit correctional institutions, detention centres or other institutions to ensure their effective management and that no individual is unfairly treated or deprived of his or her rights. JPs will ensure that complaints lodged by individuals are handled in a fair and transparent manner.
The name list of JPs appointed under section 3(1)(b) and section 3(1)(a) of the Justices of the Peace Ordinance is provided in Appendix 2.
Source: AI-generated images
