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The number of local and non-Hong Kong companies registered under the Companies Ordinance increased significantly in 2007 compared to 2006, according to the annual statistics released by the Companies Registry today (January 20).
The number of new local companies registered in 2007 increased by 22.92%, from 81,974 in 2006 to a record high of 100,761.
The number of new non-Hong Kong companies that had established a place of business in Hong Kong and registered under Part XI of the Companies Ordinance in 2007 was 748, an increase of 23.03% from 608 in 2006.
As at the end of 2007, the total number of live companies registered under the Companies Ordinance was 655,038, up 63,094 from the end of 2006. The total number of non-Hong Kong companies registered under Part XI of the Companies Ordinance stood at 8,081 at the end of last year, 372 more than in 2006.
The number of charges on the assets of companies received in 2007 increased by 26.88%, from 30,349 to 38,506. The number of satisfactions and releases received increased by 12.09% to 24,271 in 2007.
In 2007, a total of 259 prospectuses, including 82 mutual funds, were registered, compared with 234 prospectuses, including 93 mutual funds, in 2006.
The total number of documents received for filing during the year increased by 12.06%, to 1,938,691 from 1,730,040.
The total number of searches on document image records made through the Companies Registry's Electronic Search Services in 2007 increased by 7.38%, to 2,906,186 from 2,706,566 in 2006.
The number of searches on the computerised Index of Directors in 2007 increased by 23.11%, to 187,264 from 152,114 in 2006. The number of Company Particulars Reports issued increased by 9.72%, to 134,631 from 122,705 in 2006.
The total number of summonses issued by the Registrar of Companies last year against companies for breaches of the Companies Ordinance, which were issued mainly for failure to file annual returns was 6,125, an increase of 1.61% from 6,028 in 2006.
Last year, 2,190 convictions were obtained, compared with 2,294 in 2006, and 1,009 cases remain to be heard by the courts, compared with 833 in 2006, The total amount of fines imposed for convictions in 2007 was $13,516,239, compared with $13,709,579 in 2006.
Ends/Sunday, January 20, 2008
Issued at HKT 15:01
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