Birthday cheer: Registrar of Companies Ada Chung, Secretary for Financial Services & the Treasury Prof KC Chan and Permanent Secretary for Financial Services & the Treasury (Financial Services) Kevin Ho celebrate the Companies Registry's 15th anniversary.

The number of registered companies in Hong Kong has grown 83.7% in the last 15 years, while the number of new local firms registered with the Companies Registry grew to a record high of 101,512 in 2007-08.

The figures were announced today, as the registry celebrated its 15th anniversary, with senior government officials praising its work in strengthening Hong Kong's position as an international business and finance centre.

Secretary for Financial Services & the Treasury Prof KC Chan, Permanent Secretary for Financial Services & the Treasury (Financial Services) Kevin Ho and Registrar of Companies Ada Chung officiated at the reception.

The registry has implemented several amendments to the Companies Ordinance to modernise the regulatory framework, streamline registration requirements and enhance disclosure requirements. New incorporation forms were introduced in July, and details of new companies will be available to search instantly upon their incorporation.

At the end of July there were 693,718 companies on the register, up 83.7% on the 377,727 firms registered in April 1993.

In 2007-08 the number of new local firms on the Companies Registry achieved a record high of 101,512, up 69.8% on the 59,784 figure in 1993-94.

The number of documents received for registration in 2007-08 was 1.98 million, up 58.1% on 1993-94.

Prof Chan praised the registry's effort in enhancing its services to meet the changing needs and expectations of the business community since the Companies Registry Trading Fund was established in August 1993. He said he is confident the registry will continue meeting the challenges ahead.