'High-level Talks Secured Tunnel Toll Deal'

"); jQuery("#212 h3").html("

"); });
2019-01-19 HKT 11:22
The private-sector operator of the Western Harbour Tunnel needed top-level persuasion to agree to vary its tolls and is unlikely to accept further changes, Transport Secretary Frank Chan has revealed.
Speaking on a radio programme, Mr Chan said that Chief Executive Carrie Lam had to fly to Beijing for talks with top executives over the Western Harbour Tunnel before its operators agreed to reduce tolls, while fees at two other harbour crossings are increased.
Chan did not say who Lam met in Beijing, but major shareholders in the tunnel include Citic Limited, an offshoot of state-owned Citic Group.
Under the plan put together by the government, tolls for a private car at the Western Harbour Tunnel would be reduced by HK$20 to HK$50. Tolls at two other, government-operated crossings would be increased to HK$40. The hope is that it will reduce congestion, especially at the busiest and cheapest crossing, the Cross-Harbour Tunnel from Hung Hom to Causeway Bay.
Lawmakers will take an indicative vote on the plan on Wednesday, but both government-friendly and pan-democratic camps have criticised the scheme. Chan admitted the government faced "quite a challenge" to win Legislative Council support, but remained hopeful.
"What we are talking about is not just the rationalisation of toll fares," he said. "We are talking about the efficiency, the ease of transport infrastructure; it's not meant only for private cars, but for everyone in Hong Kong."
TOPPAN Edge And Partisia Partner For Fully Privacy-Focused Digital Identity Solution
TOPPAN Edge is partnering with Partisia to develop a fully privacy-focused digital identity using Partisia’s Decentr... Read more
Livi Bank Achieves HKD2.9B In Customer Deposit Growth
livi Bank reported a total operating income of HK$220 million in 2024 in its latest annual report results, marking a 76... Read more
OSL And Ant Digital Partner To Drive Real-World Asset Tokenisation
OSL Group (863.HK), a publicly listed company for digital assets, and Ant Digital Technologies signed a Memorandum of U... Read more
WeLab Bank Hits Profit In 2025 With HKD750M Revenue
WeLab Bank achieved profitability in Q1 2025*, continuing from 2024 when it achieved breakeven within four years of its... Read more
Adoption Of GenAI Rises In Hong Kongs Financial Sector, Though Focus Remains On Internal Operations
In Hong Kong, financial institutions are increasingly adopting generative artificial intelligence (genAI), aiming for e... Read more
HKMA Forms CargoX Expert Panel To Modernise Trade Finance
On 28 April 2025, the Hong Kong Monetary Authority (HKMA) announced the creation of an Expert Panel on Project Cargox. ... Read more