Acknowledgements
This article is an excerpt from the authors’ research project on the privatization of water supply and sewage service in Hong Kong which was funded by the Hong Kong Centre for Economic Research. The authors would like to thank the editor and two referees for providing valuable comments on our case for privatization. Their comments have improved the structure and content of our paper. The first author would also like to thank Professor Paul Grout for sharing his extensive knowledge
in the field of government regulation of water utilities