More than 30 taxi owners gathered outside the SAR government headquarters to push for enforcement action to be stepped up against illegal ride-hailing services on Friday.

They dispersed after handing over a petition signed by more than 5,000 taxi licence holders.

Cheong, who has had a licence for more than 20 years, said many owners are now facing negative equity.

She also pointed out that taxi owners operate under strict regulations, saying it’s unfair that illegal ride-hailing operators don’t need to abide by similar responsibilities.

The Transport and Logistics Bureau said earlier on Friday that it will meet with ride-hailing platforms later in the day to remind them that their operations must comply with the law.

But the taxi owners said they are not satisfied with that and are urging authorities to speed up regulatory moves for ride-hailing platforms.

Lam Chi-Chung, speaking on behalf of an informal group of taxi owners, said the more than 5,000 owners who signed the petition are demanding immediate action.

If they do not get a satisfactory response from officials, he said, the group may consider further actions, including applying for a judicial review to challenge the administration's handling of the issue.

“Within the group there are professionals, including accountants and lawyers who have preliminarily assessed that pursuing a judicial review is feasible,” Lam said.

"But the detailed plans have yet to be finalised.

“There have also been some more radical suggestions within the community.

"We have advised caution and urged restraint.”

The taxi owners said they will also file complaints with the Office of The Ombudsman.

The government held a two-hour meeting with the taxi trade on Thursday and reiterated its determination to crack down on illegal ride-hailing services.

In the meeting, Commissioner for Transport Angela Lee said the government would draft legislative proposals for regulating online ride hailing platforms by this year, including licensing requirements for vehicles and drivers.