Hong Kong Deposits Rise 0.9% in February; Renminbi Deposits Up 3.6% Amid Fluctuating Monetary Trends

Monetary Statistics for February 2026

The following is issued on behalf of the Hong Kong Monetary Authority:

According to statistics published today (March 31) by the Hong Kong Monetary Authority, total deposits with authorised institutions increased by 0.9per cent in February 2026. Among the total, Hong Kong dollar deposits decreased by 0.2 per cent, while foreign currency deposits increased by 1.7per cent in February. In the first two months of 2026, total deposits and Hong Kong dollar deposits increased by 0.9per cent and 1.2per cent respectively. Renminbi deposits in Hong Kong increased by 3.6per cent in February to RMB1,029.3 billion at the end of February. The total remittance of renminbi for cross-border trade settlement amounted to RMB866.5 billion in February, compared with RMB1,016.4 billion in January. 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 increased by 0.6per cent in February, and increased by 1.6per cent in the first two months of 2026. Among the total, loans for use in Hong Kong (including trade finance) and loans for use outside Hong Kong increased by 0.4per cent and 0.9per cent respectively in February. The Hong Kong dollar loan-to-deposit ratio increased to 72.4per cent at the end of February from 72.3per cent at the end of January, as Hong Kong dollar deposits decreased at a faster pace than Hong Kong dollar loans.

Hong Kong dollar M2 and M3 increased by 0.2per cent and 0.1per cent respectively in February, and both increased by 2.1per cent when compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 increased by 0.2per cent in February, and increased by 12.6per cent compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both increased by 0.8per cent in February. Compared to a year earlier, total M2 and total M3 both increased by 9.8per cent.

As monthly monetary statistics are subject to volatilities due to a wide range of transient factors, such as seasonal funding demand as well as business and investment-related activities, caution is required when interpreting the statistics.

Source: AI-found images

Hong Kong Customs detects three importing suspected controlled injection and pharmaceutical product cases

Hong Kong Customs detected three importing suspected controlled injection and pharmaceutical product cases in late March and seized 20 vials of injections suspected to contain Part 1 poisons, with an estimated market value of about $13,000.

Customs officers on March 25 inspected three express parcels imported from Japan to Hong Kong via the Shenzhen Bay Control Point. Upon inspection, Customs officers found the batch of injection vials suspected to contain Part 1 poisons in the three parcels.

After a follow-up investigation, Customs officers conducted a controlled delivery operation on March 26 and arrested three female consignees aged between 28 to 39 at three recipient addresses.

Investigations are ongoing and the three arrested persons have been released on bail.

Under the Import and Export Ordinance, any person who imports pharmaceutical products and medicines without a valid import licence commits an offence. The maximum penalty upon conviction is a fine of $500,000 and imprisonment for two years.

Under the Pharmacy and Poisons Ordinance, any person who possesses any poison included in Part 1 of the Poisons List other than in accordance with provisions commits an offence. The maximum penalty upon conviction is a fine of $100,000 and imprisonment for two years.

Members of the public may report any suspected smuggling activities to Customs' 24-hour hotline 182 8080 or its dedicated crime-reporting email account (crimereport@customs.gov.hk) or online form (eform.cefs.gov.hk/form/ced002).

Hong Kong Customs detects three importing suspected controlled injection and pharmaceutical product cases Source: HKSAR Government Press Releases