HONG KONG - A total of 150 new firms were registered in Hong Kong in the first quarter (Q1) of this year, granting a promising outlook for the completion of Hong Kong's goal in attracting more companies by 2025, a Hong Kong Special Administrative Region government official said on Friday.

The HKSAR government is expected to surpass the original target of securing 1,130 firms to start or expand business in Hong Kong from 2023 to 2025, said Algernon Yau Ying-wah, secretary for commerce and economic development of the HKSAR government.

In 2023, Invest Hong Kong under the HKSAR government helped 382 companies start or expand business in Hong Kong, up 27 percent year on year, said Yau.

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Out of the total, 122 are from Britain, the United States, Singapore and Australia, and 136 are from the Chinese mainland. Together they had contributed direct investment worth over HK$61.6 billion (about $7.86 billion) and created over 4,100 jobs, according to Yau.