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A user-friendly and efficient company registration system is an essential part of Hong Kong・s business-friendly financial services infrastructure. This was marked with the incorporation of the one millionth local company in Hong Kong this month (October).
The Registrar of Companies, Mr Gordon Jones, presented the certificate of incorporation to the president of the millionth company at a brief presentation ceremony. Welcoming the registration of the company, Mr Jones said it was almost 140 years ago when the first company was incorporated in 1865. Since then, Hong Kong had developed into a major international business and financial centre, and it was only 11 years ago when the 500000th company was incorporated in 1994.
：The aim of the Companies Registry is to provide facilities to allow the promoters of companies, limited partnerships, trust companies and registered trustees to incorporate their enterprises easily and to register all documentation required by the various Ordinances governing those enterprises,； Mr Jones said.
：To match standards expected of one of the world・s major business and financial centres, our performance pledge is to complete the registration of a local company having a share capital in six working days, and I am glad we have fully achieved this standard."
The Companies Registry・s figures show that the number of the local companies incorporated during the first nine months of 2005 was 55,694, an increase of 15.9% over the corresponding period in 2004. The total number of local companies on register stands at 543,519 as at the end of September, 2005.
Ends/Saturday, October 15, 2005
Issued at HKT 11:00
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