So here's a fun one this week. Government's finally moving on the taxi medallion mess, the fixed licences, about 18,000 of them, that decide who's legally allowed to pick you up in a cab. Problem is half of Hong Kong's actual point-to-point traffic runs through ride-hail apps and drivers nobody's checked a licence on in years. The medallion holders, plenty of them investors who never drive a metre, have been sitting on an asset. Everyone else just orders a car on their phone like it's 2026, because it is.

Now there's an enforcement push. Which sounds tough until you ask what "enforcement" means when the queue for a real taxi at Central on a Friday night is still twenty deep and the app car shows up in four minutes. You can fine as many unlicensed drivers as you want. The reason they're there is the licensed ones aren't. Fix the medallion price, or fix why nobody wants to be a taxi driver in this city, and the crackdown stops being theatre. Do neither, and it's just paperwork with flashing lights.