There were 37,598 new local companies registered under the Hong Kong Companies Ordinance in the first six months of 2005, up 17.7 percent over the same period of 2004, the Companies Registry said Tuesday.

Statistics released by the registry Tuesday showed that total number of companies registered at the end of June, was 535,886, up 16,906 from the end of 2004.

According to the registry, the total number of overseas companies registered stood at 7,362 at the end of June -- 83 more than last year's total number.

During the period, 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 number of new overseas companies that had established a place of business in Hong Kong and registered under the Companies Ordinance in the first six months was 275, down 24 percent over the same period last year, according to the registry.

Source: Xinhua