XN000022-1984-01-29 — Page 2

SUNDAY, JANUARY 29, 1984

MORE FOREIGN COMPANIES COME TO HONG KONG

****

A TOTAL OF 257 FOREIGN COMPANIES SET UP BUSINESS IN HONG KONG LAST YEAR, ACCORDING TO STATISTICS RELEASED TODAY BY THE COMMERCIAL DIVISION OF THE REGISTRAR GENERAL'S DEPARTMENT.

WITH 84 DELETIONS FROM THE REGISTRY OVER THE YEAR, THE TOTAL NUMBER OF FOREIGN BUSINESS ESTABLISHMENTS ROSE BY 10 PER CENT FROM 1 699 TO 1 872, THE REGISTRAR GENERAL, MR NOEL GLEESON, POINTED OUT.

OF THE NEW ESTABLISHMENTS, 78 COME UNDER MISCELLANEOUS INDUSTRIES+, THE LARGEST SINGLE NUMBER,

THIS WAS FOLLOWED BY INSURANCE WITH 51 ESTABLISHMENTS, FINANCIAL TRUST AND INVESTMENT WITH 19, THE LAND AND BUILDINGS SECTOR WITH 11, ENGINEERING, ELECTRICAL AND MECHANICAL OPERATION WITH 10 AND BANKING WITH 9.

FOUR NEW COMPANIES ARE ENGAGED IN THE TEXTILES SECTOR.

THE REST COVER A BROAD ARRAY OF BUSINESS OPERATIONS, RANGING FROM SHIPPING, IMPORTS AND EXPORTS, ADVERTISING AND NEWSPAPER PUBLISHING TO HOTELS AND RESTAURANTS, TOURISM AND TRANSPORT.

THE UNITED STATES LEADS WITH 64 NEW ESTABLISHMENTS, THE UNITED KINGDOM WITH 60, JAPAN WITH 41 AND SINGAPORE WITH 13.

OF THE 1 872 FOREIGN COMPANIES REGISTERED, THE UNITED STATES TOPS THE LIST WITH 436 COMPANIES, FOLLOWED BY THE UK WITH 279 COMPANIES, JAPAN WITH 223 AND SINGAPORE WITH 106.

THE REGISTRY SHOWS THAT THE NUMBER OF FOREIGN AND LOCAL COMPANIES COMBINED INCREASED BY 10 PER CENT LAST YEAR, FROM 108 302 TO 118 680.

EXISTING COMPANIES INCREASED THEIR NOMINAL CAPITAL BY $12.928 BILLION, COMPARED WITH AN INCREASE OF $19.451 BILLION IN 1982.

THE NOMINAL CAPITAL OF NEW COMPANIES INCORPORATED LAST YEAR TOTALLED $3.469 BILLION, COMPARED WITH $3.939 BILLION FOR THE PREVIOUS YEAR.

THE AMOUNT SECURED BY CHARGES REGISTERED ON THE ASSETS OF COMPANIES INCREASED BY 11 PER CENT, FROM $46.880 BILLION TO $51.921 BILLION.

THE AMOUNT REPAID ON CHARGES, AS SHOWN BY CERTIFICATES OF SATISFACTION, DECREASED BY 36 PER CENT, FROM $14.729 BILLION TO $9.356 BILLION.

DURING THE YEAR, 35 PROSPECTUSES OF NEW PUBLIC COMPANIES, INCLUDING 11 FOR MUTUAL FUNDS, WERE APPROVED, AS AGAINST 28 PROSPECTUSES, INCLUDING 13 FOR MUTUAL FUNDS, IN THE PREVIOUS YEAR.

DURING THE YEAR 6 206 APPLICATIONS FOR TRADE MARKS WERE RECEIVED, DOWN FROM 6 384 IN 1982.

AT 2 802, THE NUMBER OF NEW TRADE MARKS REGISTERED IN HONG KONG WAS SLIGHTLY LESS THAN IN 1982, BRINGING THE TOTAL TO 40 915.

/2