UBER - Uber's Hong Kong Operations In Limbo As Government Plans Regulation For Ride-Hailing Services | Benzinga
The Hong Kong government has announced its intent to regulate ride-hailing services, including Uber Technologies Inc. (NYSE:UBER), casting a shadow of uncertainty over Uber’s operations in the city.
What Happened: The Transport and Logistics Bureau of Hong Kong plans to license platforms like Uber and enforce stricter penalties for rule violations. The bureau also intends to upgrade taxi services by introducing premium fleets, Bloomberg reported on Tuesday.
The proposal, however, lacks clarity, raising concerns. Oliver Chan, an assistant professor at the Chinese University of Hong Kong, pointed out that if the number of hire-car permits isn’t increased, ...