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Jan retail sales up 0.9%

The value of total retail sales in January, provisionally estimated at $36.5 billion, rose 0.9% compared with the same month in 2023, the Census & Statistics Department announced today.   After netting out the effect of price changes over the same period, the provisional estimate represents a 1.2% year-on-year decrease.   Of the total retail sales value in January, online sales accounted for 6.5%. Provisionally estimated at $2.4 billion, the value of this segment went down by 20.9% compared with a year earlier.   Noting that retail sales tend to show greater volatility in the first two months of a year due to the timing of the Lunar New Year, the department said the year-on-year comparison of the figures might have been affected to a certain extent.   The value of sales of jewellery, watches and clocks, and valuable gifts increased 25.2% compared with January 2023.   Increases were also recorded in the sales of other consumer goods not elsewhere classified (up 7

132k firms newly registered in 2023

The total number of local companies registered in Hong Kong stood at 1,430,758 at the end of 2023, with 132,246 having been newly registered during the year, the Companies Registry announced today.


In 2023, 960 non-Hong Kong companies registered a newly established place of business in Hong Kong under the Companies Ordinance.


The total number of registered non-Hong Kong companies reached 14,826 by the end of 2023, up 2.02% year-on-year.


As for the licensing of trust or company service providers under the Anti-Money Laundering & Counter-Terrorist Financing Ordinance, a total of 429 licences were granted, taking the number of licensees to 6,945 by the end of 2023.


The number of charges paid for registration of properties of companies was 12,368, while the number of notifications of payments and releases was 17,648. There were also 2,997,459 documents delivered to the registry for registration.


Meanwhile, 4,925,332 electronic searches of document image records were conducted.


There were also 188 limited partnership funds newly registered in 2023, bringing the total number to 737 by the end of the year.


The Companies Registry highlighted that it launched the Integrated Companies Registry Information System and a new e-Services Portal on December 27, 2023.


On the same day, it also implemented the Unique Business Identifier, whereby the business registration number assigned by the Inland Revenue Department was adopted as the identification number for all entities under the administration of the Registrar of Companies.

In addition, the registry launched Phase 3 of its new inspection regime to further enhance protection of sensitive personal information.

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