Xu Zhengyu: The Hong Kong Treasury Bureau will promote the implementation of the corporate migration mechanism, making Hong Kong a treasure trove for business development.

The Secretary for Financial Services and the Treasury of Hong Kong, Christopher Hui, stated that the latest figures clearly show that Hong Kong's superior business environment provides an ideal platform for both local and overseas companies to develop. The number of both local and non-Hong Kong companies has continued to grow. The Treasury of Hong Kong will promote the implementation of a company migration mechanism to attract overseas companies to migrate to Hong Kong, thereby driving the demand for professional services, investment, and job opportunities, injecting new development momentum into the local market, and making Hong Kong a treasure trove for corporate development. According to the latest statistics released by the Hong Kong Companies Registry today (January 17), the number of local and non-Hong Kong companies registered in Hong Kong has reached a new historical high. By the end of 2024, Hong Kong had a total of 1.46 million local companies and over 15,100 registered non-Hong Kong companies, fully reflecting Hong Kong's appeal as an international business hub. Furthermore, the growth momentum of open-ended fund companies (OFC) and limited partnership funds (LPF) is equally strong. By the end of 2024, Hong Kong had approximately 1,000 LPFs and over 470 OFCs, representing an increase of 35% and 93% respectively compared to the same period last year. These figures highlight the vigorous development of Hong Kong's fund industry and further consolidate Hong Kong's position as an international asset and wealth management center.