People pose for a photo at a promenade next to Victoria Harbour in Hong Kong on Aug 14, 2022. (BERTHA WANG / AFP)

HONG KONG – Hong Kong recorded over 100,000 newly registered companies in 2022, according to official data released on Monday.

According to the statistics released by the Companies Registry today, a total of 104,120 local companies were newly registered with the Registry in 2022, slightly down from the 110,840 recorded in 2021. 

The total number of local companies registered under the Companies Ordinance was 1,391,678 by the end of last year, increasing by 16,506 compared to 2021.  

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According to the data, 874 non-Hong Kong companies established a place of business in the same period, taking the total number of such firms in Hong Kong to 14,533, up 1.29 percent year-on-year.