Hong Kong to spend HK$15 billion on fresh water from mainland China over next three years
- New three-year deal for water from the Dongjiang in Guangdong province has highest annual price increase since 2018
- Hong Kong officials say new figure takes into account exchange rate between renminbi and Hong Kong dollar
Hong Kong will need to spend HK$15 billion (US$1.9 billion) over the next three years to buy fresh water from mainland China under a new deal which includes an annual 2.39 per cent price rise, the highest rate since 2018.
The Development Bureau revealed on Wednesday that the three-year contract between Hong Kong and mainland authorities for water from the Dongjiang, or East River, in Guangdong province would run from January 1 until the end of 2026.
Water prices will rise by 2.39 per cent annually from 2024 to 2026, up from the 1.33 per cent a year used between 2021 and 2023.
The annual rate of increase was 0.3 per cent between 2018 and 2020.
A government spokesman said the new rate took into account changes in the price indexes of Guangdong and Hong Kong and the exchange rate for the renminbi and Hong Kong dollar.
