Over 1,700 new firms established in Q3

Amid the slow growth of the economy, a total of 1,720 new companies were incorporated in the third quarter of 2020, an increase of 294 year-on-year, according to the Statistics and Census Service.
Newly incorporated companies operating in Wholesale & Retail Trade and Business Services totalled 646 and 417 respectively. However, the total value of registered capital fell by 80.5% year-on-year to 105 million patacas.
Meanwhile, there were 165 companies in dissolution in the third quarter, and the value of registered capital of these companies amounted to 64 million patacas.
In terms of origin of capital, Macau contributed 66 million patacas to the capital of newly incorporated companies, accounting for 62.6% of the total.
Capital from Hong Kong amounted to 17 million patacas. Capital from mainland China totalled 12 million patacas, of which 57.4% came from the mainland cities in the Greater Bay Area. Analysed by combination of shareholders, 1,477 new companies were established solely by Macau shareholders, while 86 were joint ventures between shareholders from Macau and other countries or regions.
In the first three quarters of 2020, a total of 4,158 new companies were incorporated, down by 11.6% year-on-year; total value of registered capital fell by 88.2% to 464 million patacas. Number of companies in dissolution totalled 503, and the value of registered capital of these companies amounted to 170 million patacas. At the end of the third quarter of 2020, number of registered companies in the SAR totalled 75,095, an increase of 4,852 from a year earlier. LV