*********************************************************
Despite the effects of the global financial crisis on Hong Kong, the Companies Registry secured a surplus of $141.3 million in 2009-10 through prudent control of operating costs. A total of 107,416 new companies were incorporated during the year.
The Registrar of Companies and General Manager of the Companies Registry Trading Fund, Ms Ada Chung, gave the above remarks on the release of the Companies Registry's 2009-10 Annual Report today (October 27). The annual report was tabled at the Legislative Council today.
As highlighted by the theme of the report, "Towards e-incorporation", the Registry launched Phase II of the Integrated Companies Registry Information System in June 2009 with a view to launching electronic incorporation of companies in early 2011. The Registry has also collaborated with the Inland Revenue Department to develop a one-stop electronic service for company incorporation and business registration.
"With the one-stop electronic service in place, the process of starting a business in Hong Kong will be significantly shortened from four working days to less than one day. We anticipate that the new services will be welcomed by our customers.
"Apart from the new electronic services, the efforts of the Companies Bill Team have finally crystallised in the form of a draft Companies Bill. Two rounds of public consultation on the draft have been conducted and the Administration aims to introduce the Companies Bill to the Legislative Council in early 2011," Ms Chung added.
During the year, the Registry received the 2010 Best SME's Partner Award, which recognised the Registry' efforts in facilitating a conducive business environment for the growth and development of SMEs in Hong Kong.
The 2009-10 Annual Report is the Registry's 17th report since it became a trading fund department in August 1993. Members of the public can read or download the annual report at the Companies Registry's website: www.cr.gov.hk.
Ends/Wednesday, October 27, 2010
Issued at HKT 14:38
NNNN
