Chinese Company Wins Hong Kong Taxi Fight
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From Reuters
HONG KONG — A Chinese company bought 168 taxis for $14 million on Friday, giving it control of Hong Kong’s biggest taxi fleet.
The Pearl River Shipping Co., owned by the provincial government of the southern Chinese province of Guangdong, won a government tender after outbidding rivals with a price of $77,000 per taxi. The market price for a taxi is about $70,000.
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