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Water supply deal extended

December 14, 2017
Steady flow

Steady flow:  Secretary for Development Michael Wong (second right) signs a new agreement on the supply of Dongjiang water with Guangdong Department of Water Resources Director General Xu Yongguo.

Secretary for Development Michael Wong has signed a new agreement on the supply of Dongjiang water to Hong Kong.

 

He signed the deal today with Guangdong Department of Water Resources Director General Xu Yongguo in Hong Kong.

 

The agreement will guarantee Hong Kong a stable and flexible supply of Dongjiang water up to 2020.

 

Under the agreement, water prices will rise 0.3% annually. Hong Kong will pay fixed lump sums of $4.79 billion, $4.8 billion and $4.82 billion for 2018, 2019 and 2020.

 

The increases generally reflect changes of the price indices of Hong Kong and Guangdong and the exchange rate between the Hong Kong dollar and the renminbi.

 

Mr Wong also met Guangdong authorities to review Dongjiang water quality monitoring work and measures taken by the province to enhance water quality.

 

Both sides will continue to explore different payment approaches, such as certain combinations of a fixed lump sum for a guaranteed supply quantity, above which a variable sum will be made based on actual supply quantity.

 

Both sides will strive to complete this work before the next supply agreement.



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