A total of 1,720 new companies were incorporated in Macao in the second quarter of 2018, an increase of 491 year-on-year and mainly in wholesale business and retail, the special administrative region (SAR)'s statistics service said here on Monday.

Macao's Statistics and Census Service said in its latest report that analyzed by industry, there were 556 new companies operating in wholesale and retail and 505 in business services. The total registered capital of new companies in second quarter reached 221 million patacas (about 27 million U.S. dollars).

Companies in dissolution totaled 169 in the second quarter, and the value of registered capital of companies in dissolution amounted to 50 million patacas (about 6.2 million dollars).

Analyzed by size of registered capital, there were 1,331 new companies (77.4 percent of total) registered with capital under 50,000 patacas (about 6,200 dollars), and the total value of capital was 34 million patacas (about 4.2 million dollars).

On the other hand, there were 29 new companies registered with capital of 1 million patacas (about 124,000 dollars) or over, and the total value of capital amounted to 138 million patacas (about 17 million dollars).

As regards origin of capital, the majority of the capital came from Macao (47.51 percent) and the Chinese mainland (28.96 percent). Capital from Hong Kong SAR accounted for 14.03 percent of the total.