Recently the Registrar of Companies in Hong Kong published statistics on business activities on the island:
- The number of new local companies registered with the Registrar of Companies in Hong Kong in 2014 was higher than in 2013, and hit a record of 167,280 new companies.
- A record number of new companies that were established was in March – 30,463, significantly higher than the monthly average for the whole year.
- As of the end of 2014 the total number of active companies in Hong Kong according to the records at the Registrar of Companies was 1,272,693.
According to a director of the Registrar of Companies in Hong Kong, Ms.Chung, who added, “Amendment of the Companies Law, implemented on March 3, 2014 provides a legal framework for a modern incorporation and operation of companies in Hong Kong and strengthens the role of Hong Kong as a financial center and an international commercial entity”.
In addition, the World Bank report, “Doing Business 2015”, praised the Hong Kong amendments designed to protect minority investors in companies by inserting and tightening the requirements for managers and company owners to provide more detailed disclosure of conflict of interest in which they hold