Hong Kong authorities have unveiled highly anticipated proposals to regulate ride-hailing services, marking a significant milestone for a sector that has existed locally in a grey area for a decade. However, unanswered questions remain on the proposed new regulatory regime, with figures for quotas on ride-hailing vehicles, a levy on trips and assorted fees not…
Hong Kong stocks rose for a fifth straight day amid signs of easing US-China tensions after Nvidia said it would resume sales of some chips to China. The Hang Seng Index advanced 1 per cent to 24,832.43 at 9.50am local time, the highest level since March 19. The Hang Seng Tech Index jumped 2.8 per…
Hong Kong stocks rose by the most in two weeks on Tuesday after China’s second-quarter economic growth came in above expectations. The Hang Seng Index advanced 1.4 per cent to 24,545.57 at 10am local time, the most since June 24, adding to the 0.3 per cent increase on Monday. The Hang Seng Tech Index jumped…
China is set to showcase its artificial intelligence (AI) prowess, as well as its vision of how to manage the disruptive technology, at a conference in Shanghai as the country is stepping up its competition against the US for AI supremacy. The annual three-day World Artificial Intelligence Conference (WAIC), which starts on July 26, would…
Chinese artificial intelligence (AI) stocks are expected to defy a slowdown across industries, as the mainland relies on the technology to boost business efficiency and revive economic growth, according to investors and analysts. Companies including Meituan and Xiaomi were set to benefit from a wave of AI integration that would transform business models, according to…
A mainland Chinese visitor has been remanded in custody pending his trial in Hong Kong for allegedly offering ride-hailing services without a hire car permit. Ye Hai, 41, was escorted to Kowloon City Court on Wednesday to face three charges after police scooped up the defendant a day earlier in a sting operation targeting private…
Nearly 80 per cent of 4,800 Uber drivers polled in Hong Kong are worried that a strict quota or high licensing fees under coming new regulations for ride-hailing platforms will threaten their livelihoods. The results of the poll conducted by platform operator Uber in June were revealed on Tuesday, just days after Secretary for Transport…
One of China’s biggest portable power bank makers has suspended production for at least six months and closed its stores on major Chinese e-commerce platforms after a massive recall of its products and the decision by the country’s civil aviation authority to ban unlicensed power banks on flights. Shenzhen-based Romoss Technology, which sells its products…
A regulatory proposal on ride-hailing services in Hong Kong will be submitted to the legislature before the end of the month, the transport minister has said, months earlier than the original plan amid calls to accelerate the process. Secretary for Transport and Logistics Mable Chan said on Sunday that the authorities would provide more comprehensive…
A Hong Kong court has quashed a government decision to refuse hire car permits to two prospective Uber drivers seven years ago, rejecting authorities’ contentions that the move could open the floodgates for ride-hailing services and private vehicles to operate as “pseudo-taxis”. In a written judgment handed down on Thursday, the High Court found the…