About 40 per cent of all capital from newly registered companies in Macau during the first quarter of this year hailed from Henan Province, data from the Statistics and Census Bureau (DSEC) indicates.
A total of 1,517 new companies were incorporated in the first quarter of 2021, more 471 than the same period of last year, but with the total value of registered capital of the new companies dropping by 12 per cent year-on-year to MOP219 million.
Of the total registered capital, Mainland China contributed MOP122 million with MOP86 million coming from just Henan Province, one of the least developed Chinese provinces economically, with most of the land-locked economy revolving around agriculture, aluminium, coal, and heavy industries.
However, the province saw its foreign trade grow 16.4 per cent year on year to a yearly record high of nearly RMB665.5 billion in 2020 despite the pandemic.
Cities in the mainland side of the Greater Bay Area contributed with a total of MOP20 million, of which Shenzhen accounted for 60 per cent, with capital from Macau and Hong Kong amounted to MOP70 million and MOP24 million respectively.
About 1,110 companies were established solely by Macau shareholders, while 131 were joint ventures between shareholders from Macau and other countries or regions.
Some 1,142 new companies or 75.3 per cent of the total were registered with capital under MOP50,000, while 14 new companies were registered with capital of MOP1 million or over, with an aggregated value of MOP139 million or 63 per cent of the total.
Overall by end of the first quarter of 2021, there were a total of 77,715 companies registered in Macau.