The figures showed that the number of new local companies incorporated during the first six months of 2005 was 37,598, an increase of 17.7% from the 31,943 in the corresponding period of 2004.

However, the figures indicated that the number of new foreign companies that had established a place of business in Hong Kong under the Companies Ordinance in the first six months of 2005 fell to 275, down 24% from the 363 registrations in the first half of 2004.

The total number of companies registered under the Companies Ordinance at the end of June 2005, was 535,886, up 16,906 from the end of 2004. The total number of overseas companies registered under Part XI of the Companies Ordinance stood at 7,362 at the end of June, 2005, 83 more than the total number at the end of 2004.

The number of charges on the assets of companies received in the first six months of 2005 increased by 21.03%, to 17,746 from 14,663 in the same period last year. The number of satisfactions and releases received increased by 25.13% to 12,347 in the first half of 2005.

135 prospectuses, including 50 mutual funds, were registered in the first six months of 2005, compared with 166 prospectuses, including 74 mutual funds, during the corresponding period in 2004.

The total number of summonses issued by the Registrar of Companies against companies for breaches of the Companies Ordinance, mainly for failure to file annual returns during the first six months of 2005, was 1,420, compared with 696 during the corresponding period in 2004.

There were 581 convictions obtained during the first half of 2005, compared with 283 during the corresponding period in 2004 and 487 cases remain to be heard by the court, compared to 343 during the corresponding period in 2004.

The total amount of fines imposed for convictions in the first half of 2005 was HK$4,743,905 (US$610,292) compared with $2,047,780 during the corresponding period in 2004.