Has Hong Kong’s minibus trade reached the end of the road?

For most of his adult life, 67-year-old Chi-hung* has driven a minibus or operated a fleet of the vehicles in Hong Kong, but now the unprofitability of the business is forcing him to end his career.

Earlier this year, he decided to surrender to his bank the last of his once proud fleet of 13 agile minibuses, known for their speed and flexible service, because he could not repay the installments on a loan for HK$20 million (US$2.56 million).

Even in defeat, he still faces another decade of making instalments, his licence once commanding millions of Hong Kong dollars now worth just a fraction of that amount.

“It’s a great pity but I have no other way out,” he said with a sigh. “Public light buses in Hong Kong have completed their historical mission. Without any government support, the minibus trade is now dead and over.”

The elderly resident is among a generation of drivers confronted with a far-reaching shift in how Hongkongers navigate the city, one fuelled by expanding rail and franchised bus networks, new roads and bridges, and changes in tolls and how locals spend their leisure time.

While many drivers concede the best days are over, they are adamant minibuses can still play a vital role in the city’s transport network, provided the right sort of help is provided, although some experts argue market realities should prevail and allow certain routes to die a natural death.

A shrinking asset

According to a Facebook page set up by residents working in the industry, a bank recently took action against minibus owners who had received HK$4 million to HK$5 million in loans to buy their vehicles or cover other related expenses. Some owners opted to simply abandon their vehicles at route stops or left them in the countryside.