Formerly | Mass Transit Railway Corporation (1972–2000) |
---|---|
Company type | Public; Government-owned corporation |
| |
Industry | |
Founded | 22 September 1972 |
Headquarters | 33 Wai Yip Street, Kowloon Bay, New Kowloon, Hong Kong |
Area served | Worldwide, including:
|
Key people | |
Revenue | HK$55.4 billion (December 2017) [1] |
HK$10.5 billion (December 2017) | |
Total assets | HK$263.768 billion (December 2017) |
Owner |
|
Number of employees | 28,053 (June 2017) |
Website | www |
MTR Corporation | |||||||||
---|---|---|---|---|---|---|---|---|---|
Traditional Chinese | 香港鐵路有限公司 | ||||||||
Simplified Chinese | 香港铁路有限公司 | ||||||||
Literal meaning | Hong Kong Railway Corporation Limited | ||||||||
|
MTR Corporation Limited is a majority government-owned public transport operator and property developer in Hong Kong which operates the Mass Transit Railway,the most popular public transport network in Hong Kong. It is listed on the Hong Kong Exchange and is a component of the Hang Seng Index. The MTR additionally invests in railways across different parts of the world,including franchised contracts to operate rapid transit systems in London,Stockholm,Beijing,Hangzhou,Macao,Shenzhen,Sydney,and a suburban rail system in Melbourne.
The Mass Transit Railway Corporation (Chinese :地下鐵路公司) was established on 22 September 1972 as a government-owned statutory corporation to build and operate a mass transit railway system to meet Hong Kong's public transport needs. On 30 June 2000,the MTRC was succeeded by the MTR Corporation Limited (MTRCL,地下鐵路有限公司). As with the MTRC,the MTRCL's principal business is to operate the mass transit railway system. Following a successful initial public offering,the MTRCL was listed on the Hong Kong Stock Exchange on 5 October 2000,however,the government is still the majority stakeholder in the MTRCL.
On 11 September 2000,the financial secretary of the Hong Kong Government,Sir Donald Tsang,announced the partial privatisation of MTR Corporation Limited. [2] The offering was for one billion shares,but this was increased to 1.15 billion due to high demand. [3] On 5 October 2000,the company was listed on the Hong Kong Stock Exchange with 600,000 shareholders. In June 2001,MTR was added to the Hang Seng Index.
At the time of the initial public offering,the company was operating with a surplus of HK$360 million (US$46.1 million),which had increased from a surplus of HK$278 million (US$35.6 million) in 1997. The MTR has continued to be one of the few profitable public transport systems in the world. [4]
There had been some discussion of merging the Kowloon-Canton Railway Corporation (KCRC),which was also government-owned and the MTRCL to make the territory's transport system more efficient. The MTRCL backed such a merger while the KCRC opposed the plan. In March 2004,the Hong Kong Government officially encouraged the two companies to merge.
On 11 April 2006,the Hong Kong Government officially announced the details of the proposed merger. Under the non-binding Memorandum of Understanding the government has signed with KCRC,KCRC would grant a service concession to the MTRCL to operate the Kowloon–Canton Railway (KCR) system,with an initial period of 50 years. The KCRC would receive a one-time upfront payment of HK$4.25 billion,a fixed annual payment of HK$750 million and a variable annual payment based on revenues generated from operation of the KCR system. In addition,MTRCL would make a payment of $7.79 billion for the acquisition of property and other related commercial interests. [5]
The KCRC's lines were less profitable than those of the MTRC,and the KCRC was less active in property development. It was widely considered that the government's choice was to avoid being criticised for selling assets of the KCRC,which it wholly owned,to MTRCL for an unreasonably low price. Leasing the operation rights of the KCR system to the MTRCL avoided actually selling the KCRC.[ citation needed ]
On 2 December 2007,the Chinese name of the MTRCL was changed to 香港鐵路有限公司 [6] (lit. "Hong Kong Railway Corporation Limited") after being granted the Service Concession while the English name will remain unchanged. [7] [8] The KCRC is now a holding company of the KCR system,without actual railway operations. The merger was approved by shareholders of the MTRCL on 9 October 2007. The merger is effective for 50 years. This also resulted in changing the system's Chinese name from "地鐵" ("Subway") to "港鐵" "(Hong Kong Railway").
All adult Octopus Card holders would be the first to benefit from the merger. [9] Student and concessionary Octopus holders would also benefit from the merger by further reducing $0.1 from their 50% off fares. [10] Student Octopus holders would continue to pay the current reduced concessionary fares on the MTR network. Elderly Octopus holders would be introduced to a new fare system which only the elderly can enjoy a $2 fare to anywhere on the MTR network (excluding Airport Express,Light Rail,and Cross-Boundary Stations). [11]
In July 2021,Liber Research Community,an NGO,produced a report which detailed the history of MTR's revenue model. [12] In it,it reported that the "Rail + Property" development model was originally formed to offset unexpected financial difficulties with creating the original MTR lines,with original estimates that MTR's property would account for approximately 20 per cent of its total revenue. [12]
The Executive Council also determined that since MTR had to apply for land grants from the government,it was the government's decision on how land above MTR stations should be allocated,stating "the grant of comprehensive development rights on land affected by railway installations will be discretionary". [12] Land above stations would not necessarily be used to build private housing to maximize MTR's revenue,but could be used to solve issues of housing in Hong Kong,such as by developing public housing instead. [12] The Executive Council also noted that "revenue from property development was not originally envisaged as being used as a means of financing the capital cost of the railway itself" and that revenue from property development was to be used for a "contingency reserve",such as for offsetting excessive construction costs. [12]
The report noted that as of 2017,40 per cent of MTR's revenue is from property and that the original intent of using property revenue for contingency purposes had shifted into a different,unsustainable model where property is used to subsidise operations and the construction of new stations. [12]
The position of Chief Executive was created in 1995.
On 5 October 2000 the operator of the MTR network,the Mass Transit Railway Corporation (MTRC),became Hong Kong's first rail company to be partially privatised,marking the beginning of the Hong Kong government's initiative to reduce its interests in public utilities. Prior to its listing on the Hong Kong Stock Exchange,the Mass Transit Railway Corporation (MTRC) was wholly owned by the Hong Kong government. MTR Corporation is responsible for the operation of MTR (and the Kowloon–Canton Railway since 2 December 2007). The rail lines are profitable,but the MTR Corporation derives most of its profits from property development (usually adjacent to railway stations) and other commercial activities in Hong Kong,including the letting of retail and poster advertising space,ATM banking facilities,and personal telecommunication services [ citation needed ].
Mass Transit Railway (MTR) is the rapid transit railway system in Hong Kong. Originally opened in 1979,the system currently (at September 2024) includes 271 km (168 mi) of rail with 167 stations,including 99 railway stations and 68 light rail stops. [13] [14] There are also several future projects.
Property is one of the main businesses of the MTR,generating most of its profits. In 2009,with a net profit of HK$7.3 billion,MTR made HK$3.55 billion from property and HK$2.12 billion from transport operations. [15] The MTR tries to develop suitable sites related to their new railway projects and their existing railway. For instance,the reclaimed land situated in West Kowloon owned by the MTR was developed into Union Square,a mixed-use development with residential,office,retail,and hotel space. The site includes the tallest commercial building in Hong Kong,the 118-storey International Commerce Centre.
Central's landmark International Finance Centre is managed by Premier Plus,MTR's elite property management brand. [16]
This section may be unbalanced toward certain viewpoints.(November 2021) |
The MTR Corporation invested heavily to develop large shopping centres around MTR stations. The most recent example is the PopCorn mall located at Tseung Kwan O station. It is connected to the adjacent malls, high-end housing and hotels. Another example of such a shopping centre is Maritime Square located at Tsing Yi station. Maritime Square is a nautical-themed mall in which there are supermarkets, boutiques, bookstores, a cinema, and restaurants. Since Tsing Yi station serves as the transport hub for Tsing Yi, Maritime Square is also easily accessible by other transport means including buses and taxis. Other shopping centres developed and managed by the corporation include CityLink, Elements, Hanford Plaza, Ocean Walk, Paradise Mall, Plaza Ascot, Sun Tuen Mun Shopping Centre, Telford Plaza, The Lane, the LOHAS, and Luk Yeung Galleria.
As of 2023, MTR Corporation owns 13 shopping malls across Hong Kong, classified into luxury, regional, and neighbourhood malls. [17]
MTR Nordic AB is a subsidiary of MTR Corporation UK based in Stockholm [39] that operates in the public transportation sector through various subsidiaries. The CEO of MTR Nordic is Henrik Dahlin. [40]
Current Operations (ending November 2025):
Former Operations:
Logo | Name | Founded | Website |
---|---|---|---|
Beijing MTR Corporation Limited | 16 January 2006 | mtr.bj.cn | |
Hangzhou MTR Corporation Limited | 6 September 2012 | mtrhz.com.cn | |
MTR Corporation (Shenzhen) Limited | 1 July 2010 | mtrsz.com.cn |
The company has also formed a joint-venture Beijing MTR Corporation Limited (Jinggang MTR) (49%) with Beijing Capital Group ("BCG") (49%) and the Beijing Infrastructure Investment Co ("BIIC") (2%) to build and operate for 30 years Line 4, Daxing line, Line 14, Line 16 and Line 17 [69] [70] of the Beijing Subway.
The company formed a new joint-venture Hangzhou MTR (Hanggang MTR) with Hangzhou Metro Group in 2012 to operate Line 1 of the Hangzhou Metro for 28 years, in which MTR holds 49% of the stock, while Hangzhou Metro Group holds the other 51% of the stock. Line 5 of the Hangzhou Metro is operated by Hangzhou MTR Line 5 Ltd., which MTR holds 60% of the stock.[ citation needed ]
The company concluded initials concession agreement to build phase 2 of the Line 4 of the Shenzhen Metro, and to operate the whole line on a BOT basis for 30 years from 1 July 2010. The phase 2 of Line 4 have been in operation for passengers since 16 June 2011. Line 13, which is currently under construction, is also confirmed to be operated by MTR Corporation (Shenzhen). [71]
Company type | Public company |
---|---|
Industry | Transport |
Founded | 11 April 2018 |
Headquarters | Taipa , Macau |
Area served | Taipa |
Website | MTR (Macau) |
MTR Railway Operations (Macau) Company Limited, a wholly owned subsidiary of MTR Corporation, operates the Taipa Line of the Macau Light Rapid Transit (MLRT or MLM) in Macau since the line's opening on 10 December 2019. MTR will operate and maintain the line for 80 months. [72]
The Mass Transit Railway (MTR) is a major public transport network serving Hong Kong. Operated by the MTR Corporation (MTRCL), it consists of heavy rail, light rail, and feeder bus services, centred around a 10-line rapid transit network, serving the urbanised areas of Hong Kong Island, Kowloon, and the New Territories. The system encompasses 245.3 km (152.4 mi) of railways, as of December 2022, with 179 stations—including 99 heavy rail stations, 68 light rail stops and 1 high-speed rail terminus.
The Kowloon–Canton Railway was a railway network in Hong Kong. It was owned and operated by the Kowloon–Canton Railway Corporation (KCRC) until 2007. Rapid transit services, a light rail system, feeder bus routes within Hong Kong, and intercity passenger and freight train services to China on the KCR network, have been operated by the MTR Corporation since 2007.
The Kowloon-Canton Railway Corporation is a Hong Kong wholly government-owned railway and land asset manager. It was established in 1982 under the Kowloon-Canton Railway Corporation Ordinance for the purposes of operating the Kowloon–Canton Railway (KCR), and to construct and operate other new railways. On 2 December 2007, the MTR Corporation Limited (MTRCL), another railway operator in Hong Kong, took over the operations of the KCR network under a 50-year service concession agreement, which can be extended. Under the service concession, KCRC retains ownership of the KCR network with the MTRCL making annual payments to KCRC for the right to operate the network. The KCRC's activities are governed by the KCRC Ordinance as amended in 2007 by the Rail Merger Ordinance to enable the service concession agreement to be entered into with the MTR Corporation Limited.
SJ AB is a state-owned passenger train operator in Sweden. SJ was created in 2001, out of the public transport division of Statens Järnvägar, when the former government agency was divided into six separate state-owned limited companies. In 2018, SJ carried 31.8 million passengers.
The West Rail line was a rapid transit line that formed part of the Mass Transit Railway (MTR) system in Hong Kong until 27 June 2021. Coloured magenta on the MTR map, the line ran from Tuen Mun to Hung Hom, with a total length of 35.7 kilometres (22.2 mi), in 37 minutes. The railway connected the urban area of Kowloon and the new towns of Yuen Long, Tin Shui Wai and Tuen Mun in the northwestern New Territories.
The Light Rail, also known as the Light Rail Transit (LRT), officially the North-West Railway, is a light rail system in Hong Kong, serving the northwestern New Territories, within Tuen Mun District and Yuen Long District. The system operates over 1,435 mmstandard gauge track, using 750 V DC overhead power supply. It was once one of four systems comprising the KCR network in Hong Kong, before the MTR–KCR merger in 2007. It has a daily ridership of about 483,000 people. The line is colour warm yellow on the map, formerly deep orange before the MTR–KCR merger.
The East Rail line is one of the ten lines that form MTR, the mass transit system in Hong Kong. The railway line starts at Lo Wu or Lok Ma Chau, both of which are boundary crossing points into Shenzhen and joins in the north at Sheung Shui and ends at Admiralty station on Hong Kong Island. At approximately 46 km (29 mi), the line is the second longest line within the network, behind the Tuen Ma line. The line's colour is light blue, formerly navy blue before the KCR/MTR merger.
The Ma On Shan line was a rapid transit line that formed part of the Mass Transit Railway (MTR) system in Hong Kong. Coloured brown on the MTR map, the line acted as a branch of the East Rail line that connects the new towns of Sha Tin and Ma On Shan in the northeastern New Territories.
Citylink Plaza is a building that stands above Sha Tin station on the MTR East Rail line in Hong Kong. It was developed and is owned by the Kowloon-Canton Railway Corporation (KCRC). The building, as well as the railway station, is connected to New Town Plaza, which is one of the largest shopping centres in Sha Tin District.
MTR Bus is a public non-franchised bus service in Hong Kong operated by the MTR Corporation, serving the northwestern part of the New Territories. It comprises a network of 22 feeder bus routes for the convenience of passengers using the MTR rapid transit network, providing access to and between many MTR stations on the Tuen Ma line and Light Rail.
The Sha Tin to Central Link was an expansion project of the MTR public transport network in Hong Kong. It was divided into two sections and expanded the network’s heavy rail lines.
Kwu Tung is a planned underground infill station on the Lok Ma Chau spur line of the East Rail line of the MTR rapid transit network in Hong Kong. The station will be situated near Kwu Tung in North District, New Territories.
Arriva UK Trains Limited is the company that oversees Arriva's train operating companies in the United Kingdom. It gained its first franchises in February 2000. These were later lost, though several others were gained. In January 2010, with the take-over of Arriva by Deutsche Bahn, Arriva UK Trains also took over the running of those formerly overseen by DB Regio UK Limited.
The SP1900 EMU / SP1950 EMU or IKK Train is a model of train that runs on Hong Kong's Tuen Ma line. It was the second model of electric multiple unit rolling stock of the Kowloon-Canton Railway Corporation (KCRC), though they have been operated by MTR Corporation (MTRC) after it merged with KCRC in 2007.
On 2 December 2007, the two major railway companies in Hong Kong, the Kowloon-Canton Railway Corporation, which operated the Kowloon-Canton Railway, and the MTR Corporation, which operated the MTR, merged their operations.
London Overground Rail Operations Limited was a train operating company contracted to operate the London Overground train service on the National Rail network, under the franchise control of Transport for London. The company was a 50/50 joint venture between Arriva UK Trains and MTR Corporation.
The Tuen Ma line is a rapid transit line that forms part of the Mass Transit Railway (MTR) system in Hong Kong. Coloured brown on the map, the Tuen Ma line is 56.2 kilometres (34.9 mi) in length, making it the longest line of the MTR network. It has a total of 27 stations, more than any other in the MTR system.
Rapid transit in Hong Kong began in 1979 with part of the Modified Initial System of the MTR entered service. The section, then ran only between Shek Kip Mei and Kwun Tong stations, was subsequently extended and new lines were added by the operator, the Mass Transit Railway Corporation.
Hong Kong's rail network mainly comprises public transport trains operated by the MTR Corporation Limited (MTRC). The MTRC operates the metro network of the territory, the commuter rail network connecting the northeastern, northwestern and southwestern New Territories to the urban areas, and a light rail network in northwestern New Territories. The operations of the territory's two leading railway companies, MTRC and the Kowloon-Canton Railway Corporation (KCRC), were merged in 2007 on grounds of economies of scale and cost effectiveness. The Hong Kong Government has an explicit stated transport policy of using railways as its transport backbone.