165
166
Table 33: Stock of inward direct investment by country/territory of direct investors
Unit: Million MOP
2016
r2017
r2018
rTotal Total Total Total Difference
Total 250 490 270 071 286 042 346 628 60 586 British Virgin Islands 59 028 70 330 81 895 89 304 7 410 Hong Kong 68 633 85 335 79 649 86 769 7 121 Cayman Islands 54 375 41 857 45 747 80 077 34 329 Mainland China 39 071 46 918 51 177 59 194 8 017
Portugal 9 052 8 897 9 153 9 739 586
Bermuda 4 369 5 717 6 124 6 408 284
United Kingdom 4 022 4 045 4 580 6 368 1 789 United States 5 401 2 981 2 924 2 735 (188)
Singapore 593 1 056 1 676 1 859 183
Italy 616 706 899 987 88
Taiwan 3 952 202 481 816 335
France 517 522 586 586 0# Netherlands 306 219 174 189 15
Others 59 583 71 614 82 873 90 900 8 027
2019
Country/Territory Notes: r Revised figures 0# Magnitude less than half of the unit employed As from 2017, the coverage has been extended to “Real Estate Development, Leasing & Sale Activities” and the industrial classification of some enterprises has been adjusted. Source: DSEC Of the total inward direct investment stock from mainland China, MOP 49.93 billion (84.3%) was from Beijing, MOP 4.11 billion (6.9%) from Guangdong province and MOP 3.31 billion (5.6%) from Shanghai. Table 34: Stock of inward direct investment from mainland China by province or municipality Unit: Million MOP2016
r2017
r2018
r Total Total Total Total Difference Total 39 071 46 918 51 177 59 194 8 017 Beijing 35 122 38 651 43 318 49 930 6 612 Guangdong 2 088 4 905 4 343 4 109 (233)Shanghai 1 689 2 355 2 555 3 314 759
Anhui 875 885 891 1 773 883
Zhejiang 24 54 116 201 85
Fujian 89 139 149 155 7
Henan 7 7 (1) (1) 0# Hubei 12 6 7 10 3
Mainland province
2019
or municipality
Notes: r Revised figures 0# Magnitude less than half of the unit employed
As from 2017, the coverage has been extended to “Real Estate Development, Leasing & Sale Activities” and the industrial classification of some enterprises has been adjusted.
Source: DSEC
167
Stock of inward direct investment from Portuguese-speaking countries amounted to MOP 9.75 billion in 2019, up by 6.4% on-year. Investment stock from the nine provinces of the Pan-Pearl River Delta Region went down by 8.9% year-on-year to MOP 3.87 billion.
Table 35: Stock of inward direct investment by direct investors from selected territories
Unit: Million MOP
2016
r2017
r2018
rTotal Total Total Total Difference
European Union 15 026 14 790 15 565 18 073 2 508
Portuguese-speaking countries 9 059 8 907 9 162 9 747 585
Portugal 9 052 8 897 9 153 9 739 586
Belt and Road countries/territories 112 884 11 336 12 899 1 563 Nine Provinces of Pan Pearl River Delta Region 2 227 4 923 4 243 3 865 (379)
Guangdong 2 088 4 905 4 343 4 109 (233)
Fujian 89 139 149 155 7
Others 50 (121) (248) (400) (152)
Mainland cities in Greater Bay Area 1 990 4 778 4 323 4 111 (213)
2019
Territory Notes: r Revised figures 1. The Belt and Road countries/territories include countries/territories that have signed cooperation agreements with China under the Belt and Road Initiative framework during the reference year. 2. As from 2017, the coverage has been extended to “Real Estate Development, Leasing & Sale Activities” and the industrial classification of some enterprises has been adjusted. Source: DSEC In 2019, stock of outward direct investment of Macao enterprises amounted to MOP 55.49 billion, up by 9.4% year-on-year. Analysed by investment destination, investment stock in mainland China increased by 10.4% to MOP 45.55 billion, while that in Hong Kong inched down by 0.1% to MOP 10.56 billion. Investment of Macao enterprises in the nine provinces of the Pan-Pearl River Delta Region accounted for 77.2% of the stock of outward direct investment in mainland China, which was mainly concentrated in Guangdong province, with investment stock rising by 11.0% year-on-year to MOP 33.47 billion. Table 36: Stock of outward direct investment of Macao enterprises by investment destination Unit: Million MOP2016
r2017
r2018
r Total Total Total Total Difference Total 15 402 29 409 50 704 55 485 4 781 Mainland China 5 964 16 882 41 270 45 547 4 277 Nine Provinces of Pan Pearl River Delta Region 4 793 10 801 31 844 35 157 3 313 Guangdong 4 268 10 256 30 149 33 472 3 324 Greater Bay Area cities 4 268 10 203 29 444 32 864 3 420 Hong Kong 6 489 13 183 10 576 10 562 (14)British Virgin Islands (666) (1 138) (2 129) (2 776) (647)
Portuguese-speaking countries # (141) (228) (203) 25
2019
Country/Territory
Notes: r Revised figures # Confidential data
1. As from 2017, the coverage has been extended to “Real Estate Development, Leasing & Sale Activities” and the industrial classification of some enterprises has been adjusted.
2. As from 2018, the coverage has been extended to include data on direct investment made by Macao enterprises in mainland China that were collected by field staff of DSEC based on the information published by the Mainland authority.
Source: DSEC
168
In 2019, new enterprises with capital from Macao in Guangdong province totalled 918, with contracted foreign capital of USD5.07 billion and realised foreign capital of USD1.47 billion. Enterprises with capital from Macao in Zhuhai predominated, accounting for 71.0% of the total in Guangdong province; contracted foreign capital and realised foreign capital of these enterprises took up 86.2% and 90.4% of the respective total.
Table 37: Number of investment projects / enterprises in Guangdong province with capital from Macao, amount of contracted foreign capital and amount of realised foreign capital by city
2016 2017 2018 2019 2016 2017 2018 2019 2016 2017 2018 2019
Guangdong Province 589 756 1 127 918 3 211.9 5 631.4 1 482.1 5 073.3 644.3 559.9 1 187.5 1 467.0 Guangzhou 14 17 43 66 5.7 46.6 166.3 348.8 1.1 23.1 1.0 0.4 Zhuhai 482 604 800 652 2 870.5 4 384.4 998.2 4 373.9 579.1 419.5 1 110.7 1 325.6 Jiangmen 16 24 50 54 124.3 115.6 30.2 51.3 17.4 14.4 11.5 15.7 Zhaoqing - 1 4 3 16.5 0.7 59.4 29.6 6.8 9.9 15.8 25.2 Heyuan 1 1 16 4 0.3 8.0 10.2 9.4 - 6.4 0.3 3.2 Meizhou - - 1 1 2.2 0.3 0.8 0.4 0.1 0.1 - 0.3
Shanwei 1 - - - 1.4 - - -
-Dongguan 2 17 9 3 (16.1) 5.5 11.7 0.9 8.0 7.1 0.7 0.3
Maoming - - 15 - 1.7 - 11.4 - - 0.3 -
-Qingyuan 1 - 13 2 0.7 - 5.1 7.2 - - -
-Shaoguan - - 18 2 1.2 10.6 4.4 1.2 - 1.2 - 0.6 Shenzhen 27 24 43 25 (65.7) 898.5 48.2 32.0 2.1 2.4 0.5 -Foshan 9 17 25 33 236.6 (1.7) 23.6 88.0 8.4 21.2 6.4 14.3 Huizhou 1 3 10 1 0.1 66.3 7.7 0.1 - 1.1 3.3 1.8 Yangjiang 2 - 9 8 0.5 - 11.3 10.9 0.7 1.6 0.7 -Zhongshan 30 47 68 59 30.4 92.5 86.7 125.0 12.7 47.5 36.8 78.9 Yunfu 3 1 2 5 1.5 4.2 6.3 (5.4) 8.2 4.0 - 0.6
Jieyang - - - - 0.1 - - -
-Shantou - - 1 - - - 0.4 - - - - 0.1
Chaozhou - - - 0.4 - - - -
-Territory
Projects / Enterprises * (No.)
Contracted foreign capital
（Million USD）
Realised foreign capital
（Million USD）
Notes: * The figures for 2018 and 2019 refer to number of new enterprises with capital from Macao.
- Absolute value equals zero
Source: Statistics Bureau of Guangdong Province
169
Besides the investments made by Macao enterprises in countries/territories outside Macao, some investments with capital from Macao (enterprises and individuals) were made abroad either in the name of the Macao enterprises or by setting up other companies. It is learnt that Guangdong province accounted for a significant share of this kind of investment in mainland China.
Macao-invested Enterprises Operating in Guangdong Province
According to the results from the Fourth National Economic Census, a total of 8,836 Macao-invested enterprises were operating in Guangdong province in 2018, of which 2,344 were engaged in wholesale & retail trade, 2,103 in the
manufacturing sector and 1,416 in renting & business activities. Total receipts of these enterprises amounted to RMB 158.25 billion in 2018, with the manufacturing sector and wholesale & retail trade accounting for 59.7% and 20.9% of
the total respectively. Meanwhile, there were 216,751 persons engaged in the Macao-invested enterprises, and 75.2% of them were engaged in the manufacturing sector.
Table 38: Economic activity statistics of Macao-invested enterprises in Guangdong province
Enterprise (No.)
Person engaged (No.)
Receipts ('000 RMB)
Total 8 836 216 751 158 246 771
Agriculture, forestry, animal husbandry & fishery 7 10 707 Mining & quarrying 3 208 212 119
Manufacturing 2 103 162 954 94 540 060
Production and supply of electricity, fuels and water 16 336 1 035 708
Construction 257 1 482 928 847
Transport, storage & post 211 3 866 10 486 884 Information transmission, software & information technology services 890 5 543 3 530 781 Wholesale & retail trade 2 344 12 148 33 131 703 Accommodation & restaurants 144 9 846 1 867 970
Finance 148 4 768 3 070 502
Real estate 456 5 366 6 732 127
Renting & leasing activities and business services 1 416 4 934 1 674 659 Scientific research, technological services & geological prospecting 664 3 492 790 538 Water conservancy, environment & public facilities management 13 123 34 572 Resident services & other services 62 913 108 981
Education 22 89 13 193
Health, social security & social welfare 8 32 882 Culture, sports & entertainment 72 641 86 538
Economic activity
2018
Notes: (1) Macao-invested enterprise refer to an enterprise with investment from enterprises or individuals in Macao in the form of cash or in kind, with no specific requirement on the percentage share of equity ownership.
(2) The statistics were compiled based on the Fourth National Economic Census.
(3) Data for 2019 have yet to be released, and will be uploaded to the thematic webpage “Statistical Indicator System for Moderate Economic Diversification of Macao” of DSEC as they become available.
Sources: Statistics Bureau of Guangdong Province and Guangdong Province Administration for Industry & Commerce
170
Foreign investments in Macao can also be reflected from newly incorporated companies.
Newly Incorporated Companies
In 2019, a total of 6,140 new companies were incorporated in Macao, an increase of 187 year-on-year. Analysed by combination of shareholders, 4,119 new companies were established solely by Macao shareholders, 593 solely by Mainland shareholders and 443 solely by Hong Kong shareholders. On the other hand, there were 711 joint ventures between shareholders from Macao and other countries or territories, including 429 joint ventures between shareholders from Macao and mainland China.
Table 39: Newly incorporated companies by combination and country/territory of shareholders
Company
(No.) Change (%)
Company
(No.) Change (%)
Company
(No.) Change (%)
Company
(No.) Change (%) Total 4 392 (12.6) 5 177 17.9 5 953 15.0 6 140 3.1
Shareholders from single country/territory
3 858
(12.0) 4 358 13.0 5 202 19.4 5 339 2.6
Macao 2 943 (11.6) 3 390 15.2 4 196 23.8 4 119 (1.8) Mainland China 369 (20.5) 433 17.3 498 15.0 593 19.1 Hong Kong 286 (23.9) 378 32.2 357 (5.6) 443 24.1 Other Asian countries or
territories
71
(1.4) 46 (35.2) 48 4.3 85 77.1
Europe 63 (8.7) 68 7.9 40 (41.2) 44 10.0 Americas 112 83.6 24 (78.6) 38 58.3 41 7.9 Others 14 7.7 19 35.7 25 31.6 14 (44.0) Shareholders from Macao and
other countries/territories
460
(16.8) 740 60.9 649 (12.3) 711 9.6
Macao and:
Mainland China 264 (10.5) 324 22.7 391 20.7 429 9.7 Hong Kong 135 (25.4) 356 163.7 194 (45.5) 218 12.4 Other Asian countries or
territories
25
4.2 29 16.0 20 (31.0) 33 65.0
Others 36 (32.1) 31 (13.9) 44 41.9 31 (29.5) Other combinations 74 (12.9) 79 6.8 102 29.1 90 (11.8)
2019
Combination and country / territory of shareholders
2016 2017 2018
Source: DSEC
171
Newly incorporated companies with capital from mainland China totalled 1,097 in 2019, of which the nine provinces of the Pan-Pearl River Delta Region accounted for 857, including 770 from Guangdong province and 43 from Fujian province. Moreover, there were 84 new companies with capital from Shanghai and 70 from Beijing.
Table 40: Newly incorporated companies with capital from mainland China by province or municipality
Company
(No.) Change (%)
Company
(No.) Change (%)
Company
(No.) Change (%)
Company
(No.) Change (%) Total 686 (15.8) 815 18.8 965 18.4 1 097 13.7
Nine Provinces of Pan Pearl River Delta Region
505
(14.7) 608 20.4 754 24.0 857 13.7
Guangdong Province 427 (17.2) 518 21.3 627 21.0 770 22.8 Jiangxi Province 9 (18.2) 8 (11.1) 10 25.0 9 (10.0) Yunnan Province 2 100.0 8 300.0 3 (62.5) 9 200.0 Sichuan Province 14 (26.3) 14 - 18 28.6 6 (66.7) Fujian Province 37 32.1 39 5.4 68 74.4 43 (36.8) Hainan Province 3 50.0 3 - 4 33.3 4 - Guangxi Province 17 54.5 18 5.9 19 5.6 12 (36.8) Hunan Province 15 (25.0) 29 93.3 26 (10.3) 29 11.5 Guizhou Province 9 200.0 1 (88.9) 5 400.0 7 40.0 Beijing 49 (27.9) 69 40.8 65 (5.8) 70 7.7 Shanghai 57 26.7 47 (17.5) 47 - 84 78.7 Tianjin 9 80.0 4 (55.6) 4 - 11 175.0 Chongqing 6 20.0 2 (66.7) 11 450.0 10 (9.1) Zhejiang Province 27 22.7 26 (3.7) 21 (19.2) 37 76.2 Jiangsu Province 25 (32.4) 27 8.0 31 14.8 24 (22.6) Hubei Province 16 14.3 19 18.8 11 (42.1) 14 27.3 Liaoning Province 15 (11.8) 10 (33.3) 16 60.0 9 (43.8) Anhui Province 10 11.1 7 (30.0) 8 14.3 10 25.0 Henan Province 10 (56.5) 7 (30.0) 12 71.4 16 33.3 Others 39 (37.1) 49 25.6 60 22.4 74 23.3
2019
Province / Municipality
2016 2017 2018
Notes: A company will be counted more than once if it has capital from various places. - Absolute value equals zero Source: DSEC