MACAO, July 12 (Xinhua) -- The new approvals of residential mortgage loans in China's Macao Special Administrative Region (SAR) rose in May while those of commercial real estate loans decreased, the SAR's monetary authority said Thursday.

According to statistics released by the Monetary Authority of Macao, new approvals of residential mortgage loans by Macao banks increased by 23.0 percent month-to-month to 4.9 billion patacas (608 million U.S. dollars) in May.

The monthly average new approvals of residential mortgage loans between March and May this years was 5.0 billion patacas, up by 18.0 percent from the previous period (February to April).

Meanwhile, new approvals of commercial real estate loans fell by 64.9 percent from a higher comparison base in the previous month to 2.9 billion patacas. The monthly average new approvals of commercial real estate loans between March and May was 5.7 billion patacas, down by 18.4 percent when compared with that of the previous period (February to April).

At the end of May, the delinquency ratio for new approvals of residential mortgage loans was 0.20 percent, down by 0.01 percentage point from the preceding month, yet up 0.01 percentage point over a year earlier.

The ratio for new approvals of commercial real estate loans was 0.14 percent, virtually unchanged from a month ago and from a year ago. (1 U.S. dollar equals to 8.05 patacas)