Hong Kong's number of companies registered hits record high

16:41, July 11, 2010      

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Hong Kong's total number of live local companies registered hit a record high of 815,762 at the end of June this year, up 43,509 from that at the end of 2009, the city's Companies Registry said Sunday.

"The number of new companies incorporated continued to rise in the first six months this year, with a monthly record averaging around 11,300," said the Registrar of Companies Ada Chung.

A total of 67,669 new local companies were registered in Hong Kong during the first half of 2010, representing an increase of 17. 77 percent from 57,459 in the second half of 2009 and a surge of 30.22 percent from 51,965 in the first half of 2009, she said.

As regards new non-Hong Kong companies that had established a place of business in Hong Kong and registered under Part XI of the Companies Ordinance, 350 were registered in the first half this year, up 24.56 percent from 281 in the corresponding period of 2009.

The total number of non-Hong Kong companies registered stood at 7,959 by the end of June this year, according to the government agency.

On the progress of the development of electronic incorporation of companies, Chung said development of Phase II of the Integrated Companies Registry Information System was now in full swing, and electronic incorporation of companies and a one-stop service for company incorporation and business registration were expected to be available in early 2011.

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