Competition Commission Chairman Samuel Chan stated today (Feb. 25) that he fully supports the government's regulation of ride-hailing platforms and the establishment of relevant frameworks or legislation.
He emphasized that competition benefits consumers and that good regulation is advantageous for both taxi drivers and licensed ride-hailing drivers. Since 2019, the Competition Commission has repeatedly recommended regulation to allow taxis and ride-hailing services to compete in a fair environment, enhancing service efficiency and encouraging innovation.
Chan also mentioned that, like many Hong Kong citizens, he has used ride-hailing platforms in Shenzhen and other mainland cities, witnessing how competition improves efficiency, service quality, and the overall riding experience.
He noted that the Commission has a dedicated team monitoring and addressing anti-competitive enforcement issues both in mainland China and internationally.
"If any abuse of market power or violations of competition laws are discovered, and there is solid evidence, the Commission will initiate an investigation."
On the other hand, Secretary for Commerce and Economic Development Algernon Yau stated that as of the end of last year, there were approximately 10,000 companies from outside Hong Kong operating in the city, marking a 10% increase from the previous year— the highest recorded number to date.
Yau believes this growth reflects the international community's trust and confidence in Hong Kong. He pointed out that as an international financial and trade center, Hong Kong attracts a significant number of foreign enterprises, which not only promotes the city's economic development but also brings greater international perspectives and opportunities to Hong Kong.
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