Press Releases in Hong Kong

More firms registered in Hong Kong in H1

This Sept 20, 2020, photo shows a general view of the Victoria harbour next to commercial and residential buildings in Hong Kong. (MAY JAMES / AFP)

HONG KONG – More firms were registered in Hong Kong during the first half of this year, official data showed Tuesday.

A total of 56,253 local companies were newly registered during the first six months, an increase of 11.07 percent when compared to the figure in the second half of 2020, Hong Kong's Companies Registry said in a statement.

In the first six months of this year, the city saw 56,253 newly registered local companies, up 11.07 percent when compared to the figure in the second half of 2020, according to the Companies Registry

By the end of June, the number of local companies registered under Hong Kong's companies ordinance totaled 1.38 million.

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According to the data, 662 non-Hong Kong companies established a place of business in the same period, taking the total number of such firms in Hong Kong to 14,044.

Analysts believe the robust business registration showed the financial hub has shaken off the impact of social unrest and also held up well against the COVID-19 pandemic.

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As the National Security Law in Hong Kong has restored order and stability, businesses have been reassured and thus ramped up their investment here, Liang Haiming, a Hong Kong-based economist, said.

The legitimate rights and interests of investors will be better protected under the law, he added.