Hangzhou Metro
The company formed a new joint-venture Hangzhou MTR with Hangzhou Metro Group in 2012 to operate Line 1 of the Hangzhou Metro for 28 years, in which MTR holds 49% of the stock, while Hangzhou Metro Group holds the other 51% of the stock. Line 5 of the Hangzhou Metro is operated by Hangzhou MTR Line 5 Ltd, which MTR holds 60% of the stock.