2nd June 2023 – (Hong Kong) Hong Kong’s public transportation system is set for an increase in fares, as the MTR Corporation announced the implementation of the new fare table for this year, which was developed in accordance with the jointly completed fare adjustment mechanism review with the government. The new fares will take effect on 25th June, with over 90% of passenger journeys seeing an increase of no more than 40 cents.
According to MTR, the overall fare adjustment for this year is +2.3% based on the fare adjustment mechanism review and a one-time special arrangement to support post-pandemic economic recovery. The weighted average of individual fares for MTR, Light Rail, and MTR Bus must be equal to the overall fare adjustment. After the fare adjustment, over 90% of passenger fares will be adjusted by 4 cents or less, with about 75% of passenger fares being adjusted by 2 cents or less. This includes 4% of passenger fares remaining unchanged, and approximately 18% of passenger fares increasing by 3 to 4 cents. For passengers using Octopus or QR code to take local rides (except Racecourse Station), the fare adjustment will be up to a maximum of 80 cents.
The MTR Corporation stated that the fare adjustment mechanism review was conducted in accordance with the established principles, and the new fare table aims to balance the needs of the public and the financial sustainability of the corporation. The company also emphasised its commitment to providing reliable and quality public transportation services to the people of Hong Kong.