Hong Kong bankruptcies in 2024 surged 17% compared to the previous year, reaching 9190 cases, the highest since 2015.

According to data from the Hong Kong Official Receiver's Office, the number of bankruptcy petitions in Hong Kong reached 9,190 in 2024, the highest since 2015, an increase of approximately 17% compared to the previous year. In December alone, there were 781 petitions, a 6.2% decrease compared to the previous month, but a 15.7% increase compared to the previous year. In terms of compulsory winding-up petitions, there were 740 cases in 2024, an increase of over 30% compared to the previous year, the highest since 2009. In December alone, there were 57 petitions, a decrease of 20.8% compared to the previous month, but a 39% increase compared to the previous year. In December 2024, the court issued 28 winding-up orders, a decrease of approximately 12.5% compared to the previous month and also a 7.7% decrease compared to the previous year.