Macao experienced a net increase of 824 companies in the second quarter of 2025, according to data from the Statistics and Census Service (known by its Portuguese initials DSEC). A total of 1,107 new companies were incorporated during the period, predominantly in the wholesale and retail trade (380) and business services (326). Concurrently, 283 companies were dissolved.
The total registered capital for newly established companies in the second quarter reached 98 million patacas (US$12.1 million). Capital sources included 33 million patacas (US$4.1 million) from the Chinese mainland, representing 34.1 percent of the total, and 42 million patacas (US$5.2 million) from Macao, accounting for 43.3 percent. Capital from mainland cities within the Greater Bay Area totalled 12 million patacas (US$1.5 million), with Zhuhai contributing 45.3 percent of this amount. Additionally, 19 million patacas (US$2.3 million) in capital originated from Hong Kong.
[See more: Macao could be in for a record tourism performance in 2025, says academic]
In terms of registered capital size, 791 new companies, representing 71.5 percent of the total, were registered with capital under 50,000 patacas (US$6,180). The combined value of this capital was 20 million patacas (US$2.5 million), making up 20.8 percent of the total. Conversely, 12 new companies were registered with capital of 1 million patacas (US$23,600) or more, with their combined capital of 39 million patacas (US$4.8 million) constituting 39.4 percent of the total.
For the first half of 2025, there were 2,020 newly incorporated companies and 469 dissolutions, resulting in a net increase of 1,551 companies. Total registered capital for the first half of the year reached 303 million patacas (US$37.4 million).
Monetary and financial statistics
Separately, the Monetary Authority of Macao reported that broad money supply continued to grow in June, with both resident deposits and loans increasing from the previous month.
Currency in circulation saw a slight decrease of 0.2 percent month-on-month, while demand deposits rose by 4.5 percent, leading to a 3.2 percent increase in M1 money supply (the sum of money in circulation and that held in demand deposits).
Quasi-monetary liabilities increased by 0.9 percent. As a result, M2 (the sum of M1 and quasi-monetary liabilities), increased by 1.1 percent to 824.8 billion patacas (US$101.9 billion). The shares of patacas, Hong Kong dollars, renminbi, and United States dollar in M2 were 32.1 percent, 46.4 percent, 6.7 percent, and 12.8 percent respectively.
Resident deposits increased by 1.1 percent from May to reach 803.8 billion patacas (US$99.4 billion), while non-resident deposits grew by 6.5 percent to 373.9 billion patacas (US$46.2 billion). Public sector deposits with the banking sector also increased by 1.6 percent to 219.7 billion patacas (US$27.1 billion). Consequently, total deposits in the banking sector rose by 2.6% to 1,397.3 billion patacas (US$172.7 billion). The shares of patacas, Hong Kong dollar, renminbi, and United States dollar in total deposits were 18.8 percent, 46.7 percent, 8.3 percent, and 24.4 percent respectively.
[See more: Macao’s GDP grows more than 5 percent in the second quarter]
Domestic loans to the private sector saw a 2.8 percent month-on-month increase, reaching 512.6 billion patacas (US$63.3 billion).
By economic sector, loans to restaurants, hotels and similar businesses, and to the electricity, gas and water supply sector, grew by 34.3 percent and 18.6 percent respectively compared to the previous quarter. In contrast, loans to the wholesale and retail sector and construction sector saw declines of 11.7 percent and 1.2 percent respectively.
External loans increased by 5.5 percent from the preceding month to 522.6 billion patacas (US$64.6 billion). Overall, total loans of the banking sector rose by 4.2 percent to 1,035.2 billion patacas (US$127.8 billion). The shares of pataca, Hong Kong dollar, renminbi, and United States dollar in total loans were 21.4 percent, 44.1 percent, 11.2 percent, and 20 percent respectively.
At the end of June, the loan-to-deposit ratio for the resident sector increased to 50.1 percent from 49.3 percent at the end of May. The ratio for both resident and non-resident sectors increased from 73 percent to 74.1 percent. The one-month and three-month current assets to liabilities ratios stood at 67.3 percent and 56.6 percent respectively. The non-performing loan ratio decreased to 5.4 percent.
This article was drafted by AI before being reviewed by an editor.
