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Approval of the MTR superstructure to make huge profits Ye Liu Chung sets the allowable rate of return Chen Fan: No plan

2021-07-14T06:38:42.569Z


The Legislative Council held a general meeting today (14th). The New Democrat Party’s chairman and member of the guild, Ip Lau Suk-yee, pointed out that the MTR Corporation is responsible for the construction and operation of new railways under the “ownership” and “railway plus property development” model.


The Legislative Council held a general meeting today (14th). The New Democrat Party’s chairman and member of the guild, Ip Lau Suk-yee, pointed out that the MTR Corporation is responsible for the construction and operation of new railways under the “ownership” and “railway plus property development” models, and has been approved by the government The right to develop properties above railway stations is used to subsidize railway construction costs. The MTR Corporation has made huge profits from property development for many years. She urged the government to specify the permitted rate of return for MTR Corporation’s property development.


The Secretary for Transport and Housing, Chen Fan, said that the inclusion of the permitted rate of return will improve the operating mechanism of the MTR. He pointed out that the government has no plans to change the relevant operating model.

Suk-yee Ip bluntly said that she was very disappointed with Chen Fan's response. She denounced the government for lack of new thinking and stated that she would not give up the requirement to regulate the MTR operating mode.


Ye Liu Shuyi, chairman of the New Democratic Party.

(Profile picture)

Chen Fan pointed out that the MTR "takes Hong Kong as its roots"

Ip Liu Suk-yee pointed out that the British Hong Kong government initially introduced the "railway plus property development" model to subsidize the funding gap for railway construction. She described the practice as reflecting "the British population is very well populated", but now the MTR superstructure project has brought huge profits to the MTR. Since the merger of the two railways, the MTR has monopolized the construction of railways and "the most beautiful" real estate. Recently, it has also bid for land with other real estate developers, believing that it is necessary for the government to regulate the MTR.

Chen Fan responded by saying that he understands the perceptions of the Parliament and the community. He emphasized that if there are railway projects in the future that are independent of the current railway network, the government will introduce competition through tenders. He emphasized that the MTR Corporation should serve Hong Kong first, and the government will remind the MTR The interests of Hong Kong people are put first.

The establishment "squad leader" Liao Changjiang pointed out that the property on the Wong Chuk Hang station which was recently launched for sale by the MTR has a price of 30,000 yuan per square foot, and that it is worth exploring to cap the rate of return.

Liu Guoxun from the Democratic Alliance for the Betterment of Hong Kong criticized that MTR had bid for a piece of land in Central with other real estate developers, and asked whether it represented the MTR Corporation and it had been converted from the MTR Development Corporation to the developer.

The Federation of Trade Unions Lu Chung-hsiung believes that the MTR superstructure brings high profits to the MTR, but the current profit-sharing mechanism is only a small favor to the public.

He believes that the government can set a cap on the property profits earned by the MTR, return the profits that exceed the cap to the government, or introduce property profits into the fare adjustment mechanism.

Chen Fan reiterated that the MTR is a railway company in Hong Kong. The authorities will urge and point out that the MTR must be based on Hong Kong and the interests of the people of Hong Kong. However, he will also understand that MTR, as a listed company, has elements of commercial autonomy. , In the free market, expanding business is understandable.

The salary of Immigration Assistant Yip is on par with other troops. Nie Dequan has not paid: working hours are lower. MTR He Tun Ma Line opens at 2 pm and will send 100,000 one-way tickets. 3 steps of online registration. Quickly grab one step

Source: hk1

All news articles on 2021-07-14

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