'Bus Franchise System Should Be Changed'

"); jQuery("#212 h3").html("

"); });
2021-06-13 HKT 15:22
The Democratic Party, which has no representative joining the upcoming Legislative Council discussion about bus franchises, on Sunday called on the government to stop its piecemeal approach to saving worsening yet ever more costly bus services.
The Chief Executive approved a rise in bus fares in March to cover the operators’ huge losses in recent years, and bus companies have also reduced services and routes to save money.
The party pointed out that these approaches could lead to a “vicious cycle”, whereby less people will be travelling by bus due to inconvenience, leading to even more routes being cut.
“That is a very imminent problem that we are facing. The bus companies could run out of cash very soon, and services will be deteriorating in a matter of maybe a few years,” the party’s chairman Lo Kin-hei said.
He also pointed out that bus companies are facing huge competition from expanding railway lines.
As the franchises of operators running routes in the New Territories and Kowloon will expire in 2023, the group suggested a switch to a publicly-owned but privately-run model.
He said such a model would free bus operators from worrying about their survival and let them focus more on the quality of their services.
“The risks the bus companies face would be much less. We would try to limit the factors that will affect the operation of the bus companies. For example, the purchasing of their buses, or their factories, the land they are using,” he said.
Lo said they hope to see the government subsidising unpopular yet necessary routes reaching places other transport cannot, such as hospitals and schools, as well as introducing a formula for amending bus fares which takes inflation into account.
Airwallex Yield Service Goes Live In Hong Kong
Airwallex has officially launched Airwallex Yield in Hong Kong on 18 June 2025, which it advertises to offer businesses... Read more
Alipay And Rokid Launch AR Glasses Payment Function For In-Store Payments In China
Rokid has launched its latest augmented reality device, Rokid Glasses. In China, the Rokid AR payment glasses support i... Read more
InvestHKs Gulf Cooperation Council Fintech Visit Spurs Strategic Partnerships
Invest Hong Kong (InvestHK) reinforced its role as a global business hub through a strategic visit to the Gulf Cooperat... Read more
Can Crypto Firms Catch Up On Compliance Gaps As Regulations Evolve?
As crypto adoption accelerates, regulators are ramping up enforcement of the Financial Action Task Force’s (FATF) Tra... Read more
OneDegree Eyes Global Growth With Middle East, Europe And Africa Next
Hong Kong virtual insurer OneDegree has made significant progress in the Middle East, securing 20 contracts since enter... Read more
IFAST Introduces Bondsupermart Live With Stock-like Trading Experience For Bond Investors
To address structural inefficiencies in bond markets, iFAST introduced Bondsupermart Live, a digital bond trading servi... Read more