KCRC chairman Michael Tien Puk-sun has promised to discuss with other transport companies transfer concessions for passengers, but hinted there was no room for fare cuts.
Mr Tien said compared with other cities, public transport fares in Hong Kong were reasonable.
His comments came as Kowloon Motor Bus and New World First Bus announced they would extend Octopus bus-to-bus interchange schemes to Tseung Kwan O routes from Sunday.
The Kowloon-Canton Railway Corporation chief was speaking after receiving a petition from the Democratic Alliance for Betterment of Hong Kong for a 10 per cent cut to train fares.
Political pressure for public transport companies to cut fares has grown following comments by Secretary for Environment, Transport and Works Sarah Liao Sau-tung last week that she would lobby companies for cheaper fares.
Mr Tien said: 'Fare prices for any one mode of transportation in Hong Kong are very reasonable in comparison to other major cities.'
But he admitted that costs for passengers who have to connect to different types of transport were a heavy burden.
