Hong Kong’s MTR Corp unafraid of competition, would ‘welcome’ move to open rail market: chairman
- Rex Auyeung tells Post introducing other operators would ‘strengthen competitiveness’, notes some mainland Chinese firms could have interest
- But critics say government caveats, including limiting competition to lines independent of existing rail network, make the possibility of real change to the monopoly unlikely
Hong Kong’s MTR chief has shrugged off the threat presented by a possible break-up of the operator’s railway monopoly, saying it would be unfazed if the government decides to open up the market.
In an interview with the Post, Rex Auyeung Pak-kuen, chairman of the MTR Corporation, said the organisation welcomed potential competition.
“I think this would strengthen the competitiveness of MTR Corp,” he said on Wednesday. “In fact, I welcome any move to open up the market and certainly won’t say no to it.”
His first public remarks on the subject follow transport minister Frank Chan Fan recently saying authorities would not rule out introducing new operators if there were railway projects independent of the existing rail networks they were capable of operating.
Chan’s comments came in response to critics’ calls for the introduction of competition for the MTR Corp as well as changes to a corporate culture in place during a spate of project blunders, mishaps and high-profile setbacks over the past few years.