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| New tracks speed Hong Kong to Shenzhen travel ( 01/02/2004 ) | |||||||||
The agreement, which includes development of the land above the underground stations, is the company's first rail investment outside Hong Kong, and marks a further stage in the MTRC's "go international" strategy. MTRC has already introduced its advanced transport smart card technology to the public transport system in the Netherlands. [Click for more.] . "China is our key market," said chief executive of MTRC, Mr C K Chow. " We will look for more direct investments in other mainland cities." According to the MTRC, about 11 billion yuan (HK$11.06 billion) will be spent on property development along the railway line. "The rail-plus-property development has been a highly successful business model for Hong Kong's MTR, by not only providing funds for the construction of new railway lines, but also creating an environment for high quality city living, so we are applying this to Shenzhen," said Mr Chow. Related links: | |||||||||
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