New "Companies Ordinance" This year started March 3, prescription organizing or participating in more than 70 seminars to the public more clearly the major changes brought about by the new regulations. Ada Chung said the new regulations for the establishment of companies operating in Hong Kong and provides a legal framework for modernization. The new regulations have four main objectives: to strengthen corporate governance, facilitate business, ensuring a more appropriate regulatory and legislative modernization of the company, in order to consolidate Hong Kong's position as an international business and financial center.