What does MTR mean in Companies & Firms?
This page is about the meanings of the acronym/abbreviation/shorthand MTR in the Business field in general and in the Companies & Firms terminology in particular.
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What does MTR mean?
- The Mass Transit Railway is the rapid transit railway system in Hong Kong. It is the most profitable system in the world, with a high farebox recovery ratio of 186%. Opened in 1979, the system now includes 218.2 km of rail with 152 stations, including 84 railway stations and 68 light rail stops. The MTR system is operated by MTR Corporation Limited. Under the government's rail-led transport policy, the MTR system is a common mode of public transport in Hong Kong, with over five million trips made in an average weekday. It consistently achieves a 99.9% on-time rate on its train journeys. As of 2012, the MTR has a 46.4% market share of the franchised public transport market, making it the most popular transport option in Hong Kong. The integration of the Octopus smart card fare-payment technology into the MTR system in September 1997 has further enhanced the ease of commuting on the MTR. Construction of the MTR was prompted by a study, released in 1967, commissioned by the Hong Kong Government in order to find solutions to the growing road congestion problem caused by the expansion of the territory's economy.