Information from the Statistics and Census Service (DSEC) indicated that inward direct investment flows to the Macao Special Administrative Region (Macao SAR) dropped by 43.5% year-on-year to MOP 6.20 billion in 2025, owing to a decrease in reinvestment by foreign direct investors and repayments of large loans by some enterprises. Inward direct investment primarily flowed into Financial Activities (MOP 7.81 billion) and the Construction Sector (MOP 1.41 billion). Meanwhile, investment flows into the Macao SAR came mainly from the Chinese mainland (MOP 5.62 billion) and the Hong Kong Special Administrative Region (MOP 7.47 billion).
Inward direct investment income amounted to MOP 42.51 billion in 2025, of which investment income in the Gaming Sector reached MOP 33.42 billion, while investment income in Financial Activities and Wholesale & Retail Trade stood at MOP 12.67 billion and MOP 5.57 billion respectively.
As regards outward direct investment, Macao SAR enterprises registered a negative flow of MOP 1.93 billion in 2025, as some of them adjusted their investment strategies in the Chinese mainland. Meanwhile, new investments from Macao SAR enterprises engaged in Wholesale & Retail Trade and the Banking sector totalled MOP 1.38 billion and MOP 602 million respectively.
As at the end of 2025, inward direct investment stock totalled MOP 403.70 billion, while outward direct investment stock amounted to MOP 106.50 billion. The stock of outward direct investment in the Chinese mainland totalled MOP 78.82 billion, of which the Greater Bay Area cities accounted for 76.6%.
Direct Investment Statistics aims to provide an overview of direct investments between the Macao SAR and other economies. Direct investment refers to investment with a holding of 10% or more of the equity share capital in an enterprise. Principal statistical indicators include stock (the accumulated value of direct investment over the past years) and flows (the amount of change in direct investment in the reference year), which include financial data of enterprises such as equity capital, income and loans.
For statistical purposes, the Chinese mainland and the Macao SAR are considered as two economies. Statistical results are obtained from the Enterprise Survey, which covers Macao SAR enterprises engaged in Industrial Sector; Construction; Wholesale & Retail Trade; Hotels, Restaurants & Similar Activities; Transport, Storage & Communications; Financial Activities; Gaming; Real Estate Development, Leasing & Sale Activities and so forth; however, individuals are excluded. The statistical unit is an enterprise. If an enterprise has one or more establishments engaged in different economic activities, the industry of the enterprise will be classified according to its main economic activity as reported in the questionnaire. For example, data on hotels, restaurants and other establishments of a gaming enterprise are incorporated into the statistics of the Gaming Sector.
