Legislators Blast MTR Over 'unfair Fares'
"); jQuery("#212 h3").html("

"); });
2021-06-04 HKT 13:07
The MTR Corporation was questioned by lawmakers on Friday over why passengers using the new Tuen Ma Line after it fully opens on June 27 will pay more for some journeys than others travelling further.
The legislators noted that people going from Hung Hom to Hin Keng will be charged HK$3.4 more than those who travel one station further and get off at Tai Wai.
The railway operator's CEO Jacob Kam told the council that the length of the journey is not the only consideration when they set fares.
"Other than the distance of the journey, we also talk about the market factors, like the convenience as well as the journey time," he explained.
He said he hoped to resolve the issue by adjusting the fares in the future, but did not give a timetable.
Meanwhile, Amy Wong, the deputy secretary for transport and housing, said the government is not considering waiving rents for the MTRC to help it cut fares.
"It would be equivalent to using public money to subsidise the MTRC for cheaper fares," she said.
Wong said it is more appropriate for the government to provide transport subsidies for the public.
ZA Bank Brings Nasdaq Data To Hong Kong, Expanding US Stock Access And Investor Education
ZA Bank and Nasdaq have announced a collaboration aimed at enhancing digital wealth management in Hong Kong and interna... Read more
Hong Kong To Study One‑Stop Infrastructure For Equities, Bonds And Digital Assets
The Hong Kong Monetary Authority’s (HKMA) CMU OmniClear and the Hong Kong Exchange (HKEX) are set to begin a study on... Read more
Hong Kong To Issue First Stablecoin Licenses In March, Expand Crypto Regulation
Hong Kong will issue its first licenses for fiat-referenced stablecoin issuers in March and introduce new legislation l... Read more
MSIG Joins US$6B IFC Credit Insurance Facility To Boost Emerging Market Lending
MSIG USA and Mitsui Sumitomo Insurance (MSI Japan), together referred to as MSIG, have joined a new insurance-ba... Read more
Why The $2 Trillion Stablecoin Prediction Is Too Low
McKinsey estimates the stablecoin market will hit $2 trillion by 2028. But according to Sam Lin, COO of dtcpay, even th... Read more
RedotPay Eyes US IPO With Potential US$1 Billion Raise
RedotPay is reportedly exploring an IPO in the US that could raise more than US$1 billion, according to people famili... Read more