The new regulation has been prompted by safety concerns which have stemmed from incidents involving existing hailing apps such as Didi and Uber.

The new regulations would require cars to be registered on accredited platforms, and only vehicles with transportation permits will be able to sign up.

Private car owners who want to get a permit would need to re-register their vehicles.

Once they've done that, their vehicles have to be scrapped after 8 years. Cars for private use face no such deadline.

The Economic Information Daily, quoting industry insiders, reports the new regulations could come as early as the beginning of May.