MTR Corporation, the public transport operator in Hong Kong, announces that fares for the 2025/26 period will remain unchanged in accordance with the Fare Adjustment Mechanism (FAM).
While freezing fares, the Corporation will continue offering ongoing fare concessions, benefiting passengers across various demographics, including the elderly, children, eligible students, and persons with disabilities. Last year, these concessions amounted to over HKD 3.1 billion (USD 400 million). Additionally, the Corporation will extend various fare promotions, including the “City Saver” scheme and the $0.5 interchange discount for all Green Minibus routes. The “Monthly Pass” and “Early Bird Discount” will also be renewed for another year.
MTR fares are adjusted annually based on a direct-driven formula under the FAM, which incorporates objective data reflecting Hong Kong’s overall economic conditions. The mechanism also includes an “Affordability Cap” arrangement to ensure that fare adjustments do not exceed the change in the median monthly household income (MMHI) over the same period.
“The freezing of MTR fares this year demonstrates the mechanism’s considerations of public affordability. For instance, in the previous FAM cycle from 2017 to 2022, there were three fare freezes and one fare reduction under the mechanism, clearly showing its responsiveness to economic situation. With our mission to ‘Keep Cities Moving,’ MTR Corporation remains committed to provide high-quality, reliable, and efficient railway services and balance financial sustainability. At the same time, we invest in railway asset renewal and maintenance, and progress new railway projects to continuously contribute to community development and create enduring value for Hong Kong’s future,” said Ms Jeny Yeung, Managing Director – Hong Kong Transport Services of MTR Corporation.
The fare adjustment rate for 2025/26 was calculated at +1.45%, based on figures released by the Census and Statistics Department (C&SD) today. These include the year-on-year change in the Nominal Wage Index (Transport) (NWI(T)) for December 2024 (+3.1%) and the year-on-year change in the Composite Consumer Price Index (CCPI) for December 2024 (+1.4%), along with a 0.8% reduction due to the Productivity Factor.
As this adjustment rate falls within the ±1.5% range stipulated by the mechanism, it will be rolled over to the following year and incorporated into the fare adjustment for 2026/27. Additionally, a total rate of +1.91% due for recoupment this year will also be carried forward to 2026/27.
Since the Rail Merger, MTR’s average annual fare adjustment rate has remained lower than the average year-on-year inflation rate in Hong Kong over the same period.
Share on:
