A new chapter in point-to-point transportation (Dr. Yip Man-hon)

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go through Hong Kong Economic Times July 17, 2024

This articleauthorDr. Yip Man-honis the chairman of the Asian Marketing Technology Association and writes a column for the Hong Kong Economic Times“The Words of God“.

In recent years, online ride-hailing platforms such as Uber have flourished in cities around the world, providing more options for citizens to travel. With the development of society and the improvement of living standards, passengers are no longer satisfied with basic travel needs. They crave safe, comfortable and personalized riding experiences. The advancement of technology allows passengers to make reservations in advance, choose models, specify routes, and even use electronic payments, meeting the market’s requirements for point-to-point transportation today.

Some economists said that the authorities should not suppress online ride-hailing services for the sake of taxi survival, especially since online ride-hailing platforms have been operating in Hong Kong for many years and have proven to be effective. Looking at Asian cities such as Singapore, after introducing online ride-hailing services, through a sound legal environment, on the one hand, they regulate the operation of online ride-hailing services and provide passengers with more safe and legal transportation options; on the other hand, they promote reforms in the taxi industry to encourage it to improve service quality and meet passenger needs.

Some economists said that the authorities should not suppress online ride-hailing services for the sake of the taxi industry’s survival, not to mention that online ride-hailing platforms have been operating in Hong Kong for many years and have proven to be effective. (Photo courtesy of Hong Kong Economic Times)

The SAR government has just announced the general direction of regulating online ride-hailing platforms, which is an important step to catch up with the trend of online ride-hailing. However, it did not specify in detail when and how to issue licenses to online ride-hailing services, nor did it specify the number of licenses to be issued. One of the successes of online ride-hailing services is flexibility. When the government studies how to regulate, it should regulate from aspects such as service and vehicle safety, rather than setting limits on quantity or too many requirements, so that the market can flexibly adjust itself in response to supply and demand, meet the daily travel needs of citizens, and at the same time move Hong Kong towards becoming a smart city.

Hong Kong’s point-to-point transportation service will open a new chapter, which is the inevitable result of social development and technological progress. Drawing on the experience of Asian cities such as Singapore, which allow online car-hailing and traditional taxi services to coexist, only when the government, the taxi industry and passengers work together can we break the dilemma and create a better future for Hong Kong’s transportation. Passengers can enjoy a safe, comfortable and satisfactory riding experience, such as using the various car models and personalized services provided by online car-hailing platforms; taxi drivers can also get reasonable income and a good working environment; Hong Kong’s transportation system will also be more diverse and efficient.