Business Hong Kong

Cost of local stamps to rise to HK$2, as Hongkong Post cites ‘severe’ competition

Hongkong Post announced on Wednesday that postage rates will be increased from January 1, 2018. it is the first price rise in four years.

central post office

Central Post Office. File photo: In-Media.

In 80 per cent of cases, the increase will be within HK$1 “in order to offset escalating operating costs, in particular increases in major cost components such as staff costs and terminal dues payments,” Hongkong Post said.

The cost of sending a letter locally will rise from HK$1.70 to HK$2. Airmail letters weighing under 20 grams to places such as China or Taiwan will be adjusted from HK$2.90 to HK$3.40. Other airmail destinations will rise from HK$2.90-HK$3.80 to HK$3.70-HK$5.

The government department – which is operated as a trading fund – cited “severe” challenges such as the development of information technology, electronic communication and competition from other delivery companies.

A full overview of the prices rises may be found here.

Comments

Cost of local stamps to rise to HK$2, as Hongkong Post cites 'severe' competition