Data released by the Hong Kong Monetary Authority on August 31 shows that as of the end of July 2015, RMB deposits in Hong Kong increased by 0.1% month-on-month to 994.109 billion yuan, marking the fourth consecutive month of growth and reaching a new high for 2015, further approaching the one trillion yuan mark.
Statistical data shows that as of the end of July, total RMB deposits in Hong Kong amounted to 994.109 billion yuan, an increase of 1.185 billion yuan from 992.924 billion yuan at the end of June. During the month, the balance of RMB demand and savings deposits fell from 180.445 billion yuan in June to 180.240 billion yuan, while the balance of RMB time deposits increased to 813.869 billion yuan, compared to 812.479 billion yuan in June.
In July, the total amount of RMB remittances for cross-border trade settlement in Hong Kong was 583.601 billion yuan, a decrease of 9.331 billion yuan from 592.932 billion yuan in June. The number of authorized institutions engaged in RMB banking business increased by 1 to 147. At the end of December 2014, RMB deposits in Hong Kong exceeded the one trillion yuan mark for the first time, followed by three consecutive months of decline.