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Transport

conducted for these priority projects. At the same time, 158 projects under the original scope of the programme are being implemented.

Public Transport

Hong Kong's transport system is modern, efficient and provides affordable, comfortable and safe travel on a wide choice of carriers.

Railways

Hong Kong's railways are run by the MTR Corporation Limited (MTRCL), a public listed company of which the government is the majority shareholder.

The MTR system comprises:

the Kwun Tong Line (Tiu Keng Leng · Yau Ma Tei);

―

• the Tsuen Wan Line (Tsuen Wan - Central);

• the Island Line (Chai Wan

Sheung Wan);

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* the Tung Chung Line (Hong Kong — Tung Chung);

⚫ the Tseung Kwan O Line (Po Lam/LOHAS Park North Point);

⚫ the East Rail Line (Hung Hom - Lo Wu/Lok Ma Chau);

• the West Rail Line (Tuen Mun

Hung Hom);

- Tai Wai); and

⚫ the Ma On Shan Line (Wu Kai Sha

⚫ the Disneyland Resort Line (Sunny Bay - Disneyland Resort).

There are 82 stations in the 175-kilometre network. The MTRCL also operates the 35.2-kilometre Airport Express Line and a 36.2-kilometre Light Rail network which has 68 stops in the northwest New Territories. Light Rail feeder bus services provide rail passengers with a more comprehensive service network. The entire system carries an average of around five million. passengers each day.

In addition, the MTRCL provides cross-boundary through-train services from Hong Kong to Beijing, Shanghai and cities in Guangdong.

The Review of Fare Adjustment Mechanism of MTRCL

The government and the MTRCL completed the five-yearly review of the Fare Adjustment Mechanism (FAM) of MTRCL in April 2013 and the new FAM took effect in June. It adopts a new, objective and transparent methodology for calculating the Productivity Factor (PF). The new PF value will moderate any fare increase by an additional 0.5 percentage points each year from

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