The government on Saturday said there are more companies than ever in Hong Kong, which shows that the city is a vibrant, reliable and convenient place to do business.

The Financial Services and the Treasury Bureau said there are over 1.43 million local companies and around 15,000 non-local firms as of April - both record high figures for Hong Kong.

The bureau said new companies were emerging, outnumbering those that folded by about 4,600 last month.

Meanwhile, it said the number of bankruptcy and winding up petitions fell in April.

The authorities received 742 bankruptcy and 66 winding up petitions last month. The figures were slightly lower than those in March, but still at least 30 percent up from a year ago.