Hong Kong's Democratic Party has announced it is officially disbanding after operating for more than three decades.

A special general meeting took place at the party's headquarters on Sunday, with close to all attending members voting to dissolve the group and enter liquidation.

A total of 117 members agreed to dissolve the party, and four chose to abstain. No one voted against the disbandment.

"We had a lot of different considerations before we made our final decision to wind up this party," said party chairman Lo Kin-hei.

"It is hard to pinpoint to a single point at this moment why we must do this, but I believe that it is a collective decision that the party members make... And we believe this is the best way forward for all our central committee members and our members."

A liquidator will be commissioned to follow up with the remaining procedures. Lo expects such work to wrap up within a year.

The party, formed in October 1994, announced its intention to disband in February this year before members authorised its leadership in a special meeting in April to follow up on the group's dissolution.