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A total of 143,797 new companies were incorporated in 2010-11, according to the Companies Registry's Annual Report tabled at the Legislative Council today (October 19).
The Registrar of Companies cum the General Manager of the Companies Registry Trading Fund, Ms Ada Chung, said that the Registry successfully launched an electronic portal, the e-Registry, and implemented a one-stop electronic service for the incorporation of companies and business registration in the year. Thus, companies can be incorporated in less than a day.
"The successful launch of the e-Registry has brought Hong Kong into a new era of company incorporation and business registration since the incorporation of the first company in 1865," she said.
Flourishing with the Hong Kong economy, the Registry achieved another year of remarkable results with a profit after tax of $226.8 million.
The Registry also supported the Government in the introduction of the Companies Bill to the Legislative Council in January 2011. A Bills Committee was formed in February 2011 to scrutinise the provisions of the Bill. The Companies Bill, if passed by the legislature, will lead to new roles and functions to be assumed by the Registry.
In December 2010, the Registrar of Companies signed a Co-operation Agreement with the Market Supervision Administration of Shenzhen Municipality to strengthen co-operation with the Shenzhen authority.
Ms Chung said that the Registry received the 2011 Best SME's Partner Award in the year. The award recognises the efforts made by the Companies Registry in facilitating a conducive business environment for the growth and development of SMEs in Hong Kong.
The 2010-11 Annual Report is the Registry's 18th report since it became a trading fund department in August 1993. Members of the public can read or download the annual report at the Registry's website, www.cr.gov.hk.
Ends/Wednesday, October 19, 2011
Issued at HKT 14:31
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