Hong Kong sees record registered companies in 2024

HONG KONG, Jan. 17 (Xinhua) -- The Hong Kong Special Administrative Region (HKSAR) saw a record number of registered firms in 2024 amid government efforts to attract companies, official data showed Friday.

By the end of 2024, the total number of local companies registered under the Companies Ordinance reached more than 1.46 million, increasing by 29,736 compared to 2023, hitting an all-time high, according to the statistics released by the Companies Registry of the HKSAR government. A total of 145,053 local companies were added in 2024, the data showed.

By last year, the total number of registered non-Hong Kong companies was 15,126, up 2 percent compared to 2023, which was also an all-time high figure, with more than 1,000 non-Hong Kong companies newly establishing businesses in the city.

The rise came as the HKSAR government intensified efforts in recent years to attract key companies and top talents to the city. During last year, the HKSAR government took forward two legislative amendment exercises to enhance the Companies Ordinance, including enabling listed companies incorporated in Hong Kong to hold shares bought back in the treasury and dispose of them and the introduction of a company re- domiciliation regime.

Christopher Hui, secretary for Financial Services and the Treasury of the HKSAR government, said that the figures clearly showed Hong Kong's superior business environment as an ideal development platform for local and overseas companies. ■