Hong Kong has 900,000 registered companies by end of June

10:05, July 18, 2011      

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The number of companies registered in Hong Kong under the Companies Ordinance reached 912, 242 by the end of June this year, up 48,480 from the end of 2010, the city's Company Registry said Sunday in a statement.

"The number of new companies incorporated continued to rise in the first six months of this year, with a monthly record averaging around 13,000," Registrar of Companies Ada Chung said.

A total of 77,991 new local companies were registered during the first half of this year, an increase of 8.53 percent from 71, 861 in the second half of last year, and up 15.25 percent from 67, 669 in the first half of last year.

In the first half of this year, 402 non-Hong Kong companies that established a place of business in Hong Kong and were newly registered under Part XI of the Companies Ordinance were registered, up 14.86 percent from the corresponding period in 2010.

The total number of non-Hong Kong companies registered stood at 8,342 by the end of June this year.

Chung said with the introduction of the one-stop electronic company incorporation and business registration service at the new e-Registry platform since March 18 this year, 5,576 companies had been incorporated online by the end of June.

She added that the Companies Bill was introduced into the Legislative Council on Jan. 26 this year. A bills committee has been formed to examine it and the city's government aims to enact the bill in the 2011-12 legislative session.

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