Hong Kong Deposits Rise 2.3% in May, Driven by Corporate Fund Flows and Increased Renminbi Activity.

Monetary Statistics for May 2026

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

According to statistics published today (June 30) by the Hong Kong Monetary Authority, total deposits with authorized institutions increased by 2.3 per cent in May 2026. Among the total, Hong Kong dollar deposits and foreign currency deposits increased by 1.2 per cent and 3.2 per cent respectively in May, mainly reflecting fund flows of corporates. In the year to end-May, total deposits and Hong Kong dollar deposits increased by 4.8 per cent and 4.4 per cent respectively. Renminbi deposits in Hong Kong increased by 5.3 per cent in May to RMB1,134.7 billion at the end of May, mainly reflecting fund flows of corporates. The total remittance of renminbi for cross-border trade settlement amounted to RMB1,129.6 billion in May, compared with RMB1,214.6 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 increased by 1.4 per cent in May, and increased by 5.0 per 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 both increased by 1.4 per cent in May. The Hong Kong dollar loan-to-deposit ratio decreased to 71.0 per cent at the end of May from 71.6 per cent at the end of April, as Hong Kong dollar deposits increased at a faster pace than Hong Kong dollar loans.

Hong Kong dollar M2 and M3 both increased by 1.1 per cent in May, and increased by 1.1 per cent and 1.0 per cent respectively when compared to a year ago. The seasonally-adjusted Hong Kong dollar M1 decreased by 0.6 per cent in May, while increased by 2.0 per cent compared to a year ago, reflecting in part investment-related activities. Total M2 and total M3 both increased by 2.4 per cent in May. Compared to a year earlier, total M2 and total M3 increased by 9.9 per cent and 9.8 per cent respectively.

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 combats unfair trade practices by phone repair shops

Hong Kong Customs conducted an enforcement operation from June 26 to yesterday (June 29) to combat unfair trade practices at phone repair shops. During the operation, Customs detected four related cases and arrested seven persons, who are suspected of applying a false trade description to the phone repair services supplied and possessing for sale goods with a forged trademark, in contravention of the Trade Descriptions Ordinance (TDO).

Customs noticed that some phone repair shops made false claims to customers that the screens used in their phone repair services were new and original products. An investigation was then launched. With the assistance of the trademark owner, Customs officers conducted test-buy operations in Mong Kok, Tuen Mun and Yuen Long, arresting seven local salesmen aged between 23 and 53. A batch of suspected counterfeit mobile phone components was seized.

Investigations are ongoing. All arrested persons have been released on bail pending further investigation.

Customs reminds traders to comply with the requirements of the TDO. Traders should also be cautious in merchandising, since the sale of counterfeit goods is a serious crime and offenders are liable to criminal sanctions. Consumers should procure services or goods from reputable shops and check with the trademark owners or their authorised agents if the authenticity of a product is in doubt.

Under the TDO, any trader who applies a false trade description to a service supplied or offered to be supplied to a consumer, or any person who sells or possesses for sale any goods with a forged trademark, commits an offence. The maximum penalty upon conviction is a fine of $500,000 and imprisonment for five years.

Members of the public may report any suspected violations of the TDO 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).

Source: AI-found images