Featured statistic: EUR 25 billion

News
Date 24 January 2008

Over the past three years, banks from China and Hong Kong have markedly increased their deposits at Dutch banks. At end-September 2007 these deposits exceeded EUR 25 billion. In South East Asia, financial market developments are determined largely by the economic performances of Hong Kong, Japan and Singapore. As these countries possess few natural resources, their economies have specialised as international financial centres. Dutch banks operating in the region also have most financial relations with banks in Hong Kong, Japan and Singapore.

Chart Asian bank deposits at Dutch banks

China’s boom is now also manifesting itself at Dutch banks. At the end of the third quarter of 2007, for instance, banks in Hong Kong and China held three times as much in deposits at Dutch banks as in 2004 (see the Chart), with Hong Kong accounting for the largest share (90%). Hong Kong has been benefiting from China’s economic success since it gained the status of Special Administrative Region (SAR) in 1997, becoming the financial centre for all trade and financial transactions with China.