Hong Kong may set ride-hailing floor price to prevent involution, Post learns

Hong Kong authorities may use their right to control ride-hailing prices to prevent excessive and reductive competition, or involution, the Post has learned, but a lawmaker warned that this could cause legal problems and suggested regulation through controlling the number of licences issued instead.
A source familiar with the matter told the Post that the government may, under an existing section within the Road Traffic Ordinance, set a minimum price for ride-hailing services to avoid involution…