XN000022-1996-11-06 — Page 48

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Taxi licencing systems differ from cities to cities

Following is a question by Dr the Hon Law Cheung-kwok and a written reply by the Secretary for Transport, Mr Gordon Siu, in the Legislative Council today (Wednesday):

Question:

Reply:

Will the Government inform this Council:

(a)

(b)

Mr President,

of the respective numbers of urban, New Territories and Lantau Island taxi licences issued, as well as their respective tender premiums, in each of the past three years; and

whether the urban taxi licence premium in the territory is higher than that in other cities?

The last taxi licence tender exercise was conducted in September 1994. On that occasion, 300 urban taxi licences were issued at an average premium of $1.7 million and 100 NT taxi licences at an average premium of $1.1 million,

Different cities have different taxi licensing systems. For instance, taxi licences in London, Singapore and Shanghai are not transferable and hence do not have any transfer value.

·

Taxi licences in New York City are issued through public auction and are transferable. The current market price for a licence permitting an owner-driver to operate on a single shift is about HK$1.6 million (US$200,000), and that for a licence permitting a company to operate a service on more than one shift is about HK$3.6 u million (US$460,000).