The outbreak of the new crown epidemic in 2020 has affected economic activities around the world, and China’s anti-epidemic effect has been prominent, becoming the only major economy in the world to achieve positive economic growth. Hong Kong, China, as an internationally renowned financial center, although the epidemic is not comparable to the mainland , But its original advantages are still favored by investors all over the world.
According to statistics published by the Companies Registry on January 10, 2021, as of the end of 2020, the total number of local companies registered under the Companies Ordinance reached 1,387,919, an increase of 7,734 from 2019. A total of 99,405 local companies were newly registered with the Registry in 2020.
The changes in the number of Hong Kong companies in 2020 are as follows:
In 2020, 1,757 non-Hong Kong companies that have newly established a place of business in Hong Kong were registered under the Companies Ordinance, 12.15 per cent down from 2,000 in 2019. The total number of registered non-Hong Kong companies reached 13,752 by the end of 2020, up 10.07 per cent year on year.
The number of charges on properties of companies received for registration in 2020 was 15,603, 22.84 per cent down from 20,221 in 2019. The number of notifications of payments and releases received for registration decreased by 16.10 per cent, from 20,345 in 2019 to 17,070 in 2020.
In 2020, a total of 190 prospectuses were registered, a decrease of 4.04 per cent from 198 in 2019.
The total number of documents delivered for registration in 2020 decreased by 15.82 per cent to 2,812,471, compared to 3,340,912 in 2019.
A total of 4,827,540 searches of document image records were conducted using the Registry's electronic search services in 2020, a decrease of 6.11 per cent from 5,141,520 in 2019.
As regards the licensing of trust or company service providers under the Anti-Money Laundering and Counter-Terrorist Financing Ordinance, a total of 485 licences were granted in 2020, and the number of licensees reached 7,161 by the end of 2020.