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A total of 1,420 new companies were incorporated in Macao in the third quarter of 2018, an increase of 170 year-on-year, and their total value of registered capital rose by 118.7 percent to 254 million patacas (about 31 million U.S. dollars), the Macao Special Administrative Region's statistic department said on Tuesday.

The latest report from the Statistics and Census Service (DSEC) showed that the remarkable rise of total capital was attributable to the incorporation of new companies with large capital in financial services and transport sector.

Analyzed by industry, there were 485 newly incorporated companies operating in wholesale and retail, 309 in business services and 199 in construction. Meanwhile, companies in dissolution totaled 172 in the third quarter, and its value of registered capital amounted to 59 million patacas (about 7 million dollars).

As regards origin of capital, the majority of the capital came from Macao and the mainland. There were 995 new companies established solely by Macao shareholders, and 148 joint ventures constituted by shareholders from Macao and other countries or regions.

The report also said in the first three quarters of 2018, a total of 4,593 new companies were incorporated, up by 642 year-on-year. Total value of registered capital decreased by 90.6 percent to 710 million patacas (about 88 million dollars).

The number of companies in dissolution totaled 605 in the first three quarters, and the value of registered capital of companies in dissolution amounted to 226 million patacas (about 28 million dollars).

At the end of the third quarter of 2018, number of registered companies totaled 65,035, an increase of 4,990 year-on-year.