Shuttered up: As China slows, Hong Kong company closures hit record
|01/06/2016||Posted by BusinessMediaguide.Com under General World News||
By Elzio Barreto
HONG KONG (Reuters) – A record number of Hong Kong firms shut up shop last year as China, the mainstay of the city’s economy, trundled to its slowest economic growth in a quarter of a century and spending by mainland visitors dried up.
Some 122,479 companies were dissolved, according to data from the city’s Companies Registry compiled by financial research platform Webb-site.com. New firms incorporated in Hong Kong also slid 17 percent, leaving the net number of new firms at a low since 2003’s SARS outbreak slammed the city’s economy.
The numbers show just how tightly Hong Kong’s business prospects read more >>>
Source : BusinessInsider.Com