Hong Kong's Chief Executive John Lee stated that the cap on ride-hailing vehicle licenses must balance market needs with passenger experience, with legislation to be submitted soon.

The number of ride-hailing vehicle licences will be determined based on Hong Kong’s unique conditions and the need to maintain passenger experience, the city’s leader has said, adding that the proposed subsidiary legislation will be submitted for approval on schedule. Chief Executive John Lee Ka-chiu also said on Tuesday that a mechanism would be established to monitor market operations and data, as well as to conduct dynamic assessments and reviews of quotas. His remarks were made after...