Hong Kong yuan deposits down 5.5 percent in March

Yuan deposits in Hong Kong, the world's biggest offshore yuan centre, fell 5.5 percent to 759.4 billion yuan ($117.30 billion) in March from the previous month, according to the Hong Kong Monetary Authority. Cross-border trade settlement amounted to 370.7 billion yuan for the month, compared with 279.8 billion yuan in February. Hong Kong-dollar deposits rose by 1.3 percent in March, while overall foreign-currency deposits grew by 1.0 percent. Yuan deposits accounted for 8.3 percent of Hong Kong's total deposits in March.