More companies but less capital in 2023

A total of 5,011 new companies were incorporated in 2023, an increase of 900 year-on-year amid the gradual economic recovery following the downturn brought about by the pandemic.

Data from the Statistics and Census Service (DSEC) shows the number of new companies operating in Wholesale & Retail Trade and Business Services totaled 1,877 and 1,359 respectively.

However, the total value of registered capital of the new companies fell 89% year-on-year to MOP1.65 billion in 2023, attributable to the incorporation of new companies with relatively large amounts of capital in Financial Activities in 2022. A 15% year-on-year increase would be seen in registered capital if those companies were excluded from the comparison.

Amid the city’s recovery, the number of companies in dissolution was 914 in 2023, and the value of registered capital of these companies amounted to MOP486 million.

Analyzed by size of registered capital, there were 3,509 new companies (70% of the total) registered with capital under MOP50,000 in 2023, and the corresponding value of capital (MOP91 million) accounted for 5.5% of the total. Meanwhile, 171 new companies were registered with capital of MOP1 million or over, and the value of capital (MOP1.34 billion) made up 81.2% of the total. Staff Reporter