SUNDAY, MAY 23, 1982
3
NUMBER OF COMPANIES EXCEEDS 100 000
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THE RAPID INCREASE IN THE NUMBER OF COMPANY INCORPORATIONS OVER THE PAST TWO YEARS HAS PUSHED THE LONG LIST OF THE COMPANY REGISTER THROUGH ITS 100 000 MARK, THE REGISTRAR OF COMPANIES, MR P. JACOBS, SAID TODAY (SUNDAY).
+EVERY COMPANY ON THE REGISTER HAS TO FILE A VARIETY OF DOCUMENTS RELATING TO ITS AFFAIRS, AND PEOPLE DEALING WITH COMPANIES OFTEN CALL AT THE COMPANIES REGISTRY TO INSPECT THE FILES,+ MR JACOBS SAID.
+ IT WILL BE APPRECIATED, THEREFORE, THAT THE COMPANIES REGISTRY IS NOW MUCH BUSIER THAN IT HAS EVER BEEN AT ANY TIME IN ITS HISTORY, HE ADDED,
+THE INCORPORATION OF COMPANIES IN HONG KONG BEGAN IN 1865,+ SAID MR JACOBS. IT TOOK FROM THEN UNTIL 1966, THAT IS TO SAY, JUST OVER 100 YEARS FOR THE FIRST 10 000 COMPANIES TO BE INCORPORATED. THE NEXT 10 000 COMPANIES APPEARED ON THE REGISTER IN THE FIVE YEARS FROM JULY 1966 TO JUNE 1971.+
THE NEXT 10 000 COMPANIES WERE INCORPORATED IN THE TWO YEARS FROM 1971 TO 1973. INCORPORATIONS CONTINUED AT THE FOLLOWING RATE :
10 000 COMPANIES
10 000 COMPANIES
10 000 COMPANIES
10 000 COMPANIES
10 000 COMPANIES
10 000 COMPANIES
NOV 1973 TO MAR 1976 (2 YEARS 5 MONTHS)
APR 1976 TO JAN 1978 (1 YEAR 10 MONTHS)
FEB 1978 TO APR 1979 (1 YEAR 3 MONTHS)
MAY 1979 TO MAR 1980 (11 MONTHS)
APR 1980 TO DEC 1980 (9 MONTHS)
JAN 1981 TO JULY 1981 (7 MONTHS)
IN THE NINE MONTHS SINCE THEN THE NUMBER OF LOCAL COMPANIES INCORPORATED HAS NOW RISEN BY ANOTHER 10 000 TO A TOTAL OF OVER 100 000.
IN ADDITION, THERE ARE NOW 1 585 FOREIGN COMPANIES REGISTERED UNDER PART XI OF THE COMPANIES ORDINANCE. HOWEVER, THESE RECORDS DO NOT INCLUDE FOREIGN COMPANIES OPERATING IN HONG KONG THROUGH LOCAL AGENTS. ONLY FOREIGN COMPANIES WHICH HAVE ESTABLISHED A PLACE OF BUSINESS IN HONG KONG ARE REQUIRED TO REGISTER WITH THE COMPANIES REGISTRY.
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