Monetary Statistics for March 2026
The following is issued on behalf of the Hong Kong Monetary Authority:
According to statistics published today (April 30) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 0.1 per cent in March 2026. Among the total, Hong Kong dollar deposits increased by 0.7 per cent, while foreign currency deposits decreased by 0.3per cent in March. In the first quarter of 2026, total deposits and Hong Kong dollar deposits increased by 1.0per cent and 1.9per cent respectively. Renminbi deposits in Hong Kong increased by 0.6per cent in March to RMB1,035.2 billion at the end of March. The total remittance of renminbi for cross-border trade settlement amounted to RMB1,290.0 billion in March, compared with RMB866.5 billion in February. 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 1.3per cent in March, and increased by 3.0per cent in the first quarter of 2026. Among the total, loans for use in Hong Kong (including trade finance) increased by 1.8 per cent, while loans for use outside Hong Kong decreased by 0.1per cent in March. The Hong Kong dollar loan-to-deposit ratio decreased to 72.3per cent at the end of March from 72.4per cent at the end of February, as Hong Kong dollar deposits increased at a faster pace than Hong Kong dollar loans.
For the first quarter of 2026 as a whole, loans for use in Hong Kong (including trade finance) increased by 3.0per cent after increasing by 0.2per cent in the previous quarter. Analysed by economic use, the increase in loans during the first quarter was mainly led by loans to financial concerns and trade finance.
Hong Kong dollar M2 and M3 both increased by 0.6per cent in March, and both increased by 1.2per cent when compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 increased by 1.5per cent in March, and increased by 13.3per cent compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both increased by 0.2per cent in March. Compared to a year earlier, total M2 and total M3 both increased by 9.3 per 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
Speech by SCST at opening ceremony of "The Hong Kong Jockey Club Series: Meet Mona Lisa & Portraying the Renaissance"
Following is the speech by the Secretary for Culture, Sports and Tourism, Miss Rosanna Law, at the opening ceremony of "The Hong Kong Jockey Club Series: Meet Mona Lisa & Portraying the Renaissance" today (April 30):
Consul General Christile Drulhe (Consul General of France in Hong Kong and Macau), Mr Nicholas Hunsworth (Steward of the Hong Kong Jockey Club), Ms Pansy Ho (Co-chairman of the Board of French May Arts Festival), Mrs Mignonne Cheng, (Co-Chairman of the Board of French May Arts Festival), Mr Vincent Delieuvin (Chief Curator of Italian Painting of the Sixteenth Century, Musée du Louvre), Dr Matteo Gianeselli (Curator of Musée National de la Renaissance and Art Historian), Mr Vincent Larnicol (Vice President of Grand Palais Immersif), distinguished guests, ladies and gentlemen,
Good evening. It is a great pleasure to join you here at the Hong Kong Heritage Museum for the opening of the French May Arts Festival 2026 and this magnificent exhibition, "Meet Mona Lisa and Portraying the Renaissance" - a true cornerstone of this year's Festival.
For more than three decades, the French May has been a crown jewel in Hong Kong's cultural calendar.Year after year, it brings together distinguished artists and audiences who share a deep commitment to cultural excellence from around the world, transforming our city into a vibrant living gallery. This year, under the theme "Re/naissance", I am confident that the Festival will continue to offer an energetic platform for artistic innovation and the exchange of ideas - strengthening the cultural dialogue between France and Hong Kong in unprecedented ways, and drawing visitors who come specifically to experience the rich cultural programmes.
I am particularly pleased to see the collaboration between the Culture, Sports and Tourism Bureau and this year's French May - from the Leisure and Cultural Services Department organising the Mona Lisa exhibition, to the Mega Arts and Cultural Events Fund providing funding support for various programmes. There is no doubt that this year's French May will once again embody our vision of Hong Kong as an international cultural metropolis, one that beautifully bridges different cultures.
Turning to this exhibition, the "Mona Lisa" truly needs no introduction. She is undoubtedly a highlight of this year's programme. Through the immersive digital journey specially curated by the Louvre and the Grand Palais Immersif, alongside the outstanding artworks on loan from exceptional museums and art institutions, we can step inside the frame and breathe new life into classical heritage. By bringing "Mona Lisa" to our doorstep, we are also offering our community and visitors a unique opportunity to engage with art in a way that is interactive, educational, and deeply moving.
Beyond the exhibition, another highlight to look forward to is the Sino-French Electronic Music Show, at the Central Harbourfront next week. The Show features a diverse lineup of acclaimed performers from France, the Chinese Mainland and Hong Kong. With the stunning Victoria Harbour as backdrop, this event promises world-class entertainment and an unforgettable night of great music and joyful moments. Together with more than 100 programmes and educational activities running from May through July, I am confident that this year's Festival will once again transcend cultural boundaries, advance the spirit of cultural exchange, and inspire innovation for the future.
Before I close, I wish to express my heartfelt gratitude to the French May team, the Consulate General of France in Hong Kong, and all the outstanding artists and collaborating organisations for their invaluable contributions and support. I look forward to seeing this vibrant partnership flourish in the years ahead. I wish the Festival and the exhibition every success, and everyone here a very pleasant evening. Thank you.
Source: AI-found images
