HK$14.4 billion a year for water: can Hong Kong strike a better deal on supply from mainland China?
Guangdong has agreed to review the price formula after 2020 but critics are sceptical of city’s bargaining power in talks
Hong Kong may get a more favourable water import deal with mainland China after 2020, following an agreement between authorities from both sides to review the current price formula.
The details on water supply from Guangdong are contained in a document to be tabled for discussion at the Legislative Council’s panel for development next Tuesday.
One option put forth by Hong Kong officials was to explore the payment of a fixed sum for a guaranteed amount of water from across the border, with a flexible rate for additional imports based on volume.
At present, Hong Kong is under a HK$13.5 billion deal to buy water from Guangdong until the end of the year. According to the Development Bureau paper, taxpayers will then have to fork out more for a HK$14.4 billion deal – an increase of 6.7 per cent – for water imports from next year until 2020.
Hong Kong lawmaker Claudia Mo Man-ching, from the newly formed pan-democratic group Council Front, had expressed disappointment with the pricier water deal after this year.
