Macao's new companies increase in Q1

MACAO -- A total of 1,517 new companies were incorporated in Macao in the first quarter of 2021, an increase of 471 year-on-year, the special administrative region's (SAR) statistics service said on Wednesday.

Information from the Statistics and Census Service (DSEC) also indicated that the total value of registered capital of the new companies dropped by 11.9 percent year on year to 219 million patacas ($27.4 million).

In the first quarter, the number of companies in dissolution was 253, and the value of registered capital of these companies amounted to 85 million patacas, according to the report.

In terms of the origin of capital, the mainland contributed 122 million patacas, or 55.5 percent of the total, to the capital of newly incorporated companies. Capital from the Macao and Hong Kong SARs amounted to 70 million and 24 million patacas, respectively.

Analyzed by the size of registered capital, there were 1,142 new companies, or 75.3 percent of the total, registered with capital under 50,000 patacas in the first quarter, and corresponding value of the capital totaled 29 million patacas.

Meanwhile, 14 new companies were registered with capital of 1 million patacas or over, and the value of capital amounted to 139 million patacas, showed the report.

At the end of the first quarter of 2021, the total number of registered companies in Macao was 77,715.