Companies Registry Statistics
4
Financial and Monetary Affairs
2017
2018
2019
New local companies
160,229
151,739
124,741
Local companies on the register
1,383,946
1,400,950
1,380,185
New non-Hong Kong companies
1,028
1,193
2,000
Non-Hong Kong companies on the register
10,434
11,061
12,494
Individual and Corporate Insolvencies
The Official Receiver's Office ensures service in personal and corporate insolvencies is of high quality on a par with international standards.
When acting as the trustee-in-bankruptcy or liquidator, the Official Receiver or a private-sector insolvency practitioner investigates the affairs of the bankrupt or wound-up company, realises assets and distributes dividends to creditors. The Official Receiver also prosecutes insolvency- related offences under the Bankruptcy Ordinance and Companies (Winding Up and Miscellaneous Provisions) Ordinance, applies for disqualification orders against unfit company directors of wound-up companies, and monitors the conduct of outside liquidators and trustees and the liquidation monies.
Statistics on Bankruptcy Orders, Interim Orders in Individual Voluntary Arrangements (IVAs) and Winding-up Orders
Bankruptcy orders
Interim orders in IVAS
Winding-up orders.
2017
2018
2019
7,627
7,146
7,762
529
555
587
296
255
244
Resolution Regime for Financial Institutions
The Financial Institutions (Resolution) Ordinance establishes a cross-sectoral resolution regime for financial institutions in Hong Kong. Following its enactment in 2017, the FSB noted in its Peer Review Report of Hong Kong that the city was 'one of the few FSB jurisdictions with a fully cross-sectoral resolution regime:
The resolution authorities are operationalising the cross-sectoral resolution regime for financial institutions in Hong Kong. The HKMA published a code of practice chapter on loss-absorbing capacity requirements in March and standard disclosure templates in October to facilitate banks' compliance with the Financial Institutions (Resolution) (Loss-absorbing Capacity Requirements - Banking Sector) Rules. In addition, a new resolution facility was introduced in August as part of the HKMA's updated Liquidity Facilities Framework for Banks, which could facilitate resolution.
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