Chinese yuan deposits in Hong Kong surge to more than two-year high

Reuters/Thomas White/Illustration/File Photo

Official data from the financial hub's de-facto central bank showed

Staff Writer, Reuters News

PHOTO

Chinese yuan deposits in Hong Kong rose to the highest level in more than two years in April, official data from the financial hub's de-facto central bank showed.

Renminbi deposits rose to 1.09 trillion yuan ($150.43 billion) at the end of April, up 15.2% from a month earlier, the Hong Kong Monetary Authority (HKMA) said, hitting the highest level since January 2022.

The HKMA said sharp rises in yuan deposits in the financial hub were mainly reflecting "fund flows of corporates," according to a statement on its website.

($1 = 7.2457 Chinese yuan)

(Reporting by Shanghai Newsroom; Editing by Jacqueline Wong)

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