In November 2025, Hong Kong's total deposits increased by 0.7%, with Hong Kong dollar deposits up by 0.2% and foreign currency deposits up by 1.1%. Renminbi deposits rose 0.6% to RMB1,002.0 billion. Total loans increased by 0.1%, with loans for use outside Hong Kong up by 0.4%. M2 and M3 both increased by 0.2%, and M1 rose by 1.2%. Monetary statistics show trends over time and should not be over-interpreted for monthly fluctuations.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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In accordance with the latest figures published by the Hong Kong Monetary Authority on 31 December 2025, total deposits with authorized financial institutions in Hong Kong rose by 0.7% in November 2025. Specifically, Hong Kong dollar deposits increased by 0.2%, while foreign currency deposits saw a rise of 1.1%. On a year-over-year basis, total deposits and Hong Kong dollar deposits experienced an increase of 10.5% and 3.4%, respectively.
Renminbi ("RMB") deposits in Hong Kong surged by 0.6% in November 2025, reaching RMB1,002.0 billion. Concurrently, the total renminbi remittance for cross-border trade settlement in November climbed to RMB1,033.0 billion, representing a 2.6% increase from October 2025. These deposit fluctuations are attributable to various influencing factors, including interest rate adjustments and fund-raising activities, and a thorough, long-term analysis is advisable for a complete understanding.
The total volume of loans and advances in November 2025 rose by 0.1%, and by 1.0% on a year-over-year basis. Hong Kong dollar loans utilized in Hong Kong, including those for trade finance, decreased by 0.1%, whereas loans used outside Hong Kong increased by 0.4%. Consequently, the Hong Kong dollar loan-to-deposit ratio declined to 73.2% at the end of November from 73.6% in October, primarily due to the rise in Hong Kong dollar deposits and the corresponding decrease in Hong Kong dollar loans.
In November 2025, both Hong Kong dollar M2 and M3 increased by 0.2%, and by 4.5% compared to the previous year. The seasonally-adjusted Hong Kong dollar M1 experienced a rise of 1.2% in November, and by 14.9% year-over-year, indicating substantial investment-related activities. Simultaneously, total M2 and total M3 both registered a 0.9% rise in November and an 11.2% increase year-over-year.
The monthly monetary statistics presented in this report are subject to the influence of transient factors such as seasonal funding requirements and business and investment-related activities. Consequently, caution should be exercised when interpreting these statistics.
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