This undated photo shows a view of the Victoria Harbour in Hong Kong. (PHOTO / IC)

HONG KONG – Hong Kong recorded over 130,000 newly registered companies in 2023, according to official data released on Monday.

Companies Registry statistics showed that a total of 132,246 local companies were newly registered with the Registry last year, up from the 104,120 recorded in 2022.

The total number of local companies registered under the Companies Ordinance reached 1,430,758 by the end of 2023, increasing by 39,080 compared to the previous year.

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There were also 960 non-Hong Kong companies that put up shop in the territory last year, bringing their total number to 14,826 by the end of 2023, up 2.02 percent year-on-year.