Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
SMIC Profits Soar to $138m in Second Quarter
Foldable Phone-Maker Plans Shenzhen IPO, Dispelling Rumors of U.S. Listing
Astra Inks Oxford Vaccine Production Deal with China’s Kangtai
Trending Story: Are Any New Graduates Really Worth 2 Million Yuan a Year? Netizens Discuss!
Trending in China: Popcorn or Cheaper Tickets - What Would Make You Return to the Cinema?
Tesla Challenger Xpeng Raises $400 Million Before Planned U.S. IPO
CATL Announces it Will Supply Batteries for Mercedes-Benz New Electric Sedan
TikTok Sees No Slowdown in Global Popularity Despite Indian Ban and U.S. Threats
Baidu Search, Sina Weibo on ‘Secret List’ of Chinese Apps Banned in India’s Latest Purge
Trending in China: Choosing a College Major - For Love or Money?
Evergrande Health Forges Ahead With Six New Electric Vehicles
Trending in China: How Cute Rabbit Ears Are On the Frontline in Fight Between Delivery Firms
Chinese Company Files Lawsuit Against Apple’s Siri for Patent Infringement Worth Billions
China Home to Six of the World’s Top 10 Unicorns, Hurun Report Says
Trending in China: Can Music Streamers Help Users’ Depression?
Core Parts of China’s Beidou Satellite System ‘100% Made in China’
Trending in China: Xiaomi CEO’s Shows How Best To Harness China’s Social Media Humor for Serious Business
Apple Takes Down Over 30,000 Apps from China Store Amid Government Crackdown
Chinese Chipmaker SMIC to Establish Joint Venture for Wafer Production
Microsoft Said Plan to Acquire TikTok Will Continue
Uber Abandons Plan to Move Regional Headquarters to Hong Kong

Ding Yi / Jul 31, 2020 07:01 PM / World

Uber has abandoned a plan to relocate its Asian-Pacific headquarters to Hong Kong from Singapore because of its inability to persuade the Hong Kong government to enact legislation for the ride-hailing industry.

In a statement issued Thursday, the U.S. company said that it will keep Singapore as a regional hub for the medium term and will continue with its efforts to seek legislation to regulate the ride-hailing business in Hong Kong.

The announcement comes a month after Beijing imposed a national security law on Hong Kong, a move that has dampened some tech firms’ confidence in the city’s future as a hub for international business.

In May, Uber announced that it was ready to move its regional headquarters from Singapore to Hong Kong and planned to build an innovation and engineering hub in the former British colony on condition that the Hong Kong government removed regulatory hurdles.

Since entering Hong Kong six years ago, Uber has faced strong resistance from local policy stipulating that drivers must obtain a hire-car permit before using their private vehicles to transport passengers for profit.

According to a report by Nikkei Asian Review, such permits cost HK$5 million ($645,157) each at open auction as the Hong Kong government has not issued new permits since 1998 to reduce traffic and air pollution.

In addition, Uber has also encountered boycotts from drivers working for taxi companies.

Currently, Uber, which sold its Chinese mainland business to local rival Didi Chuxing in 2016, operates across the Asian-Pacific region in Hong Kong, Taiwan, India, Bangladesh, Sri Lanka, Japan, South Korea, Australia and New Zealand.

Contact reporter Ding Yi (yiding@caixin.com)

Related: Didi to March Into 20 New Australian Cities Next Month

 


Share this article
Open WeChat and scan the QR code