MTR Corp, the operator of Hong Kong's metro system, is hoping to gain more concessions in the mainland as part of the central government's practice to encourage the public-private partnership business model to diversify economic structure and improve public services. Beijing MTR Co, an MTR joint venture in the mainland, will start operating the second phase of Beijing's Metro Line 14 in the second half of this year. The concession lasts 30 years, and MTR will invest 2.2 billion yuan ($355.2 million) on metro trains, vehicle maintenance and operational facilities. Unlike metro operators in the mainland and other parts of the world, MTR has a wide business portfolio, including residential and commercial development project, property leasing and management, advertising, telecommunications and international consultancy services, in addition to its railway operations. Raymond Chien, MTR's chairman, said bringing expertise in railway development and property management to the mainland is a core component of the company's strategy for continued growth. "Because Shenzhen is closer to Hong Kong and has favorable policies to support foreign investment compared with other parts of the country, we will focus on developing our business in this city and also in fast-growing cities like Beijing, Hangzhou and Tianjin, as...
