对于应如何解决当前网约车市场出现的返空费乱象，广东国鼎 律师事务所的代园星律师在接受采访时指出，最直接有效的方 法是管理部门出台相关的政策法规，禁止收取返空费，并设置 处罚条款。 作者：邹永勤 封图：图虫创意 什么？最高预估价仅约170元，实际要支付的打车费用却多达270元？ 相信很多乘客在使用网约车服务时，都遭遇过这种预估价和实际支付价差异较大的情形。这个时 候，你的第一反应是觉得平台的预估不靠谱，还是觉得司机的行为不靠谱？ 根据深圳市交通运输局发布的数据，2025年上半年，全市共查处网约车营运违章案件556宗，比去 年同期增加了73.21%；乘客有效投诉数量高达53526件，平均每天将近300件。当前网约车市场 的"乱"，由此可见一斑。 而在乘客对网约车乱象的争议中，"故意绕路"和"跨城返空费"被频频提及。经济观察报记者日前就 接到多位乘客爆料，称其在跨城打车时多次遭遇司机私下索要跨城返空费的情形。 途中，林司机向记者诉苦称，由于近两年单价持续走低，司机收入下降，生活压力增加，所以向乘 客索要跨城返空费已经是业内的"潜规则"，十分普遍。对此，记者表示异议，认为从乘客端来看， 这几年打车的单价并不见有下降的 ...

Core Viewpoint - Lyft announced a partnership with Waymo to launch autonomous taxi services in Nashville next year, aiming to better compete with Uber [1][2] Group 1: Lyft's Partnership with Waymo - The collaboration is expected to enhance Lyft's competitive position against Uber [1] - Lyft's stock initially surged nearly 28% in pre-market trading but closed with a 13% gain, indicating a shift from initial excitement to cautious evaluation of the partnership's potential benefits [1] - Analysts express caution, noting that while the partnership is beneficial, it may not be exclusive, as Waymo's orders will initially be fulfilled through its own app before transitioning to Lyft's platform [1] Group 2: Market Analysis and Implications - Morgan Stanley analyst Brian Nowak highlighted that the partnership showcases the value of Lyft's network, but Nashville is a small market that may not significantly impact Lyft's financial model [2] - The key factors for success will be Lyft's ability to generate strong demand for Waymo's fleet and whether the partnership can expand the overall addressable market for ride-hailing services [2] - Concerns remain regarding Uber's dominant position in the market, with potential pricing and market share pressures on Lyft, especially following Uber's significant market share gains post-pandemic [2]

Core Viewpoint - The article highlights the growing issue of discrepancies between estimated and actual fares in the ride-hailing market, particularly focusing on the controversial practice of drivers requesting "return empty fees" for cross-city rides, which has become a common yet problematic phenomenon in the industry [1][10]. Group 1: Market Conditions - In the first half of 2025, Shenzhen's transportation authority reported 556 violations related to ride-hailing operations, a 73.21% increase from the previous year, alongside 53,526 valid passenger complaints, averaging nearly 300 per day [1]. - The average daily order completion per vehicle in Shenzhen increased from 11.82 to 12.69 orders, with 57,111 vehicles completing at least 10 orders daily, up from 48,402 [3]. Group 2: Driver Practices - Drivers are increasingly requesting additional fees for cross-city rides, citing low income due to high platform commissions and the prevalence of order transfers between platforms [3][10]. - A driver reported that the practice of requesting return empty fees has become a "hidden rule" in the industry, reflecting the financial pressures faced by drivers [3]. Group 3: Passenger Experiences - Passengers have reported being pressured to pay return empty fees, with some agreeing to additional charges out of safety concerns during late-night rides [6][7]. - A passenger experienced a significant fare increase due to a driver deviating from the planned route after refusing to pay a return empty fee, resulting in a final fare of 315 yuan instead of the estimated amount [6][4]. Group 4: Platform Responses - Ride-hailing platforms like Meituan and Didi have stated that they do not permit drivers to request return empty fees, labeling such actions as deceptive [5][9]. - Didi's customer service confirmed that while drivers can negotiate return fees, the amount should not exceed the actual highway tolls incurred, which has raised concerns about the fairness and transparency of this practice [9]. Group 5: Legal and Regulatory Perspectives - Legal experts indicate that while the collection of return empty fees may be legally permissible under current regulations, it is deemed unreasonable due to the lack of standardized pricing and the potential for exploitation of passengers [10][11]. - Recommendations include the need for regulatory bodies to prohibit the collection of return empty fees and for platforms to take responsibility for managing driver compensation more effectively [11].

Core Insights - The ride-hailing industry has become a significant channel for absorbing labor in new employment forms, creating a large and flexible employment pool [1] Employment and Income Characteristics - As of October 2024, a total of 7.483 million ride-hailing driver licenses have been issued in China, with an average age of approximately 40 years among drivers, indicating a "middle-aged" demographic [2][3] - The average monthly income for ride-hailing drivers is 7,623 yuan, ranking second among six categories of blue-collar jobs, with drivers in first-tier cities earning an average of 11,557.1 yuan if they work at least 8 hours daily [7][8] - About 62.8% of drivers are the sole earners in their households, indicating significant economic responsibility, with around 80% of families experiencing financial pressure [4][5] Driver Demographics and Background - The majority of ride-hailing drivers are middle-aged males, with women making up less than 10% of the workforce, although this percentage is gradually increasing [3] - Over 90% of drivers have prior work experience in manufacturing, construction, or self-employment, showcasing diverse and mobile career backgrounds [3] Work Patterns and Flexibility - The average daily online working hours for drivers is approximately 6.41 hours, with a peak around 10 hours, while only about 30% of drivers are classified as "highly active" [4][5] - Many drivers transitioned from manufacturing jobs due to the transparent income structure, flexible working hours, and enhanced respect in their roles [5] Industry Challenges and Recommendations - The ride-hailing industry has seen a 159% increase in licensed drivers since 2020, with a corresponding 38.3% growth in monthly order volume, leading to intensified competition and price pressures [8] - The average commission rate for drivers is 18.9%, with most drivers experiencing rates between 18% and 20%, which impacts their income perception [8] - Recommendations include improving industry governance, ensuring algorithm fairness and transparency, and exploring diversified income growth models amidst market saturation [8]

Core Viewpoint - The ride-hailing industry has become a significant channel for absorbing labor in new employment forms, providing a large and flexible employment pool. The report reveals the multi-dimensional characteristics of ride-hailing drivers, highlighting their employment and income situations [3][4]. Group 1: Demographics and Employment Characteristics - As of October 2024, there are 7.483 million ride-hailing driver licenses issued in China, with an average driver age of approximately 40 years, indicating a "middle-aged" characteristic [3][5]. - The average monthly income of ride-hailing drivers is 7,623 yuan, ranking second among six types of blue-collar occupations. In first-tier cities, drivers working an average of 8 hours or more daily earn an average of 11,557.1 yuan [9][10]. - About 62.8% of drivers are the sole earners in their households, indicating significant economic responsibility. Over 80% of these households experience financial pressure, leading drivers to prefer jobs with immediate settlement and flexible hours [6][7]. Group 2: Employment Patterns and Job Satisfaction - The average daily online working hours for ride-hailing drivers is 6.41 hours, with a peak around 10 hours. However, only about 30% of drivers are classified as "highly active," indicating reliance on a core group of drivers for platform capacity [6][10]. - Many drivers transitioned from manufacturing or construction jobs, citing reasons such as transparent income, flexible working hours, and enhanced respect due to the dual evaluation system on platforms [7][11]. Group 3: Income Dynamics and Industry Challenges - The average commission rate for sampled drivers is 18.9%, with most drivers' commission rates concentrated between 18% and 20%. The industry has seen a 159% increase in licensed drivers since 2020, while monthly order volume has grown by approximately 38.3%, intensifying competition and price pressure [11][12]. - The report suggests the need for improved industry governance, advocating for fairness and transparency in algorithms and exploring diversified income growth models amidst market saturation [11][12].

Core Insights - The report highlights the significant role of the ride-hailing industry in providing flexible employment opportunities, with 7.4% of drivers being recent graduates [1][3] - The average monthly income of ride-hailing drivers is 7,623 yuan, ranking second among six blue-collar job categories [6][7] - The demographic profile of ride-hailing drivers shows a predominance of middle-aged males, with an average age of approximately 40 years [2][3] Employment Characteristics - As of October 2024, there are 7.483 million licensed ride-hailing drivers in China, indicating a substantial labor pool [1][7] - The majority of drivers (62.8%) are the sole earners in their households, highlighting their economic responsibilities [3][4] - The average daily online working hours for drivers is around 6.41 hours, with a peak around 10 hours, indicating a mix of full-time and part-time engagement [3][4] Income and Job Satisfaction - Ride-hailing drivers report a higher income satisfaction compared to traditional blue-collar jobs, with those in first-tier cities earning an average of 11,557.1 yuan per month when online for 8 hours or more daily [6][7] - The average commission rate for drivers is 18.9%, with most drivers experiencing a commission range of 18% to 20% [6][7] - Factors influencing driver income include fare rates, order volume, incentives, and operational costs [6][7] Industry Dynamics - The ride-hailing sector has seen a 159% increase in licensed drivers since 2020, with a corresponding 38.3% growth in monthly order volume, leading to intensified competition [7] - The industry faces challenges related to algorithm transparency and fairness, necessitating improved governance and diverse income models for drivers [7]

美国市场出现分歧：金融和工业指数支撑道琼斯指数，但增长/科技疲软打压纳斯达克指数和标准普尔指数。 波动性和收益率 美国主要指数 美联储降息25个基点至4.00%-4.25%的目标区间，为2025年首次降息。鲍威尔将其描述为应对劳动力市场疲软迹象的"风险管理"举措。 • VIX：▼ -3.91% 15.72 美元。美联储政策没有意外后波动性下降 AvaTrade爱华每日市场报告 2025-09-18，全球金融市场在美联储自2025年以来的首次降息后呈现出复杂走势。尽管美联储将利率下调25个基点至 4.00%-4.25%的区间，并将其定位为应对经济风险的"风险管理"举措，但市场反应却出现显著分化。美股涨跌互现，道指在金融和工业股支撑下收涨，而标 普500指数和纳斯达克100指数则受科技股拖累小幅回调，后者部分源于对中国限制采购高端人工智能芯片的担忧。与此同时，欧洲市场基本持平，英国高于 预期的通胀数据则强化了其对利率维持高位的预期。 | 4 | Today: Sep 18 | | | | | | --- | --- | --- | --- | --- | --- | | Date | 8:28am | | Cur ...

Core Viewpoint - The travel chain is showing structural highlights, particularly among strong channel and brand companies, with expectations for improvement driven by the National Day holiday and policy support [1][8]. Industry Review and Outlook - The experience economy and value-for-money consumption coexist, with service consumption policies being strengthened, AI iteration, and expansion into overseas and lower-tier markets creating growth opportunities [2]. - Four key characteristics of the travel chain: 1) Overall stable consumer market with a rising share of service consumption and a trend towards rational spending [2]. 2) Strong brands and channels are gaining market share, with online penetration in the hotel sector outpacing the industry [2]. 3) Clear differentiation among platforms, with leading companies focusing on building a closed-loop traffic ecosystem and improving monetization [2]. 4) Leading OTA and hotel companies are emphasizing increased cash dividends [2]. Segment Summary - The travel chain's overall revenue in Q2 2025 increased by 9% year-on-year, while net profit attributable to shareholders decreased by 65% [3]. - OTA and ride-hailing sectors are performing well, with stable market conditions leading to strong revenue realization [3]. - The hotel sector is showing improved performance, particularly for strong brand companies like Atour, with expectations for gradual stabilization in supply and demand [6]. Company Performance - Ctrip's Q2 revenue exceeded expectations, driven by growth in domestic hotel nights, while international business also saw over 16% growth for two consecutive quarters [4]. - Tongcheng's domestic hotel and flight business is expanding steadily, benefiting from outbound travel [4]. - The ride-hailing industry is experiencing improved profitability, with companies like Cao Cao Travel leveraging their own vehicle fleets for efficiency [5]. Investment Recommendations - The travel chain presents structural highlights, with strong channel and brand companies expected to benefit from upcoming holidays and policy support [8]. - Recommended companies for investment include Ctrip Group-S, Atour, and Tongcheng Travel among others [8].

Core Viewpoint - The Federal Reserve's decision to cut interest rates by 25 basis points does not indicate the start of a long-term easing cycle, which dampens market bullish sentiment [1][3]. Market Dynamics - The Dow Jones increased by 260.42 points (0.57%) to 46018.32, while the Nasdaq fell by 72.63 points (0.33%) to 22261.33, and the S&P 500 decreased by 6.41 points (0.10%) to 6600.35 [4]. - Among the 11 sectors of the S&P 500, the financial sector rose by 0.96%, and the energy sector increased by 0.28%, while the industrial sector fell by 0.47% and the information technology sector declined by 0.7% [4]. - In the ETF market, the semiconductor ETF dropped by 0.64%, while the energy ETF rose by 0.23% and the financial ETF increased by 0.97% [4]. Stock Performance - Major tech stocks showed mixed results, with Nvidia down 2.62%, Amazon down 1.04%, and Google A down 0.65%, while Microsoft rose by 0.19% and Apple increased by 0.35% [5]. - Lyft's stock surged by 13% following the announcement of a partnership with Waymo for autonomous taxi services in Nashville, while competitor Uber fell by 5% [6]. - Workday's shares rose by 7.25% after reports of Elliott Management acquiring over $2 billion in shares [7]. - StubHub's stock fell over 6% on its first day of trading, marking a reversal in the hot IPO market [8]. - Chinese concept stocks mostly rose, with the Nasdaq Golden Dragon China Index up 2.85%, including Baidu up over 11% and NIO up over 6% [8].

Core Viewpoint - Uber's stock has experienced notable fluctuations due to competitive pressures, particularly from Lyft's partnership with Waymo to launch autonomous taxi services by 2026, which has negatively impacted Uber's market position [1] Group 1: Stock Performance and Market Competition - On September 17, Uber's stock fell by 4.99%, marking a total decline of 5.97% over two days, primarily driven by increased competition in the ride-hailing and autonomous driving sectors [1] - Despite the recent downturn, Uber has seen a cumulative stock increase of 54.09% since the beginning of 2025, indicating a technical correction phase [1] - Internal trading activities, including multiple stock sales by CEO Dara Khosrowshahi on September 12, may have influenced investor confidence [1] Group 2: Innovations and Market Expansion - Uber is advancing its sustainability and technological initiatives in the freight sector by collaborating with Tesla to launch a dedicated electric vehicle fleet accelerator program, aimed at reducing barriers to electric truck adoption [2] - The partnership includes subsidized purchasing opportunities for Tesla Semi trucks and optimized charging infrastructure, reinforcing Uber's leadership in the freight market while promoting environmental benefits [2] - Additionally, Uber has introduced the Uber Safari service, focusing on adventure tourism and enhancing its presence in local markets, which not only increases tourism revenue but also creates opportunities for local travel agencies and guides [2] Group 3: Long-term Growth Potential - Despite facing competitive pressures, Uber's technological innovations and market diversification strategies, particularly in freight and tourism, provide new growth momentum [3] - Investors are encouraged to monitor Uber's ongoing innovation capabilities and market responses when evaluating investment opportunities, considering the growth potential across different business lines [3]