On May 27, the Hong Kong special administrative region government’s”Working Group on the promotion of Silver Development Economy” held a press conference and announced a number of specific measures to promote silver development economy, it aims to transform population ageing challenges into new opportunities for economic and social development.
(image: govhk)
Speaking at the meeting, the Deputy Secretary for administration, Zhuo Yongxing, pointed out that according to the Census and Statistics Department forecast, more than one in every three people in the 2043 would be elderly. In this context, the development of the silver economy can not only stimulate local economic vitality, but also help foster high-quality silver products and service models, ensuring that the elderly share the fruits of social development.
Working group from”Silver consumption”, “Silver industry”, “Silver quality assurance”, “Silver financial and security arrangements”, “Silver production power” five dimensions of systematic measures. On”Silver consumption”, it covers 11 initiatives, including encouraging the exhibition industry to set up thematic exhibitions on”Silver Economy” and guiding the retail industry to provide exclusive concessions for the elderly, and through the Hong Kong Trade Development Council in the e-commerce platform to promote age-appropriate products. The development of the”Silver Industry” focuses on technological innovation, with the Hong Kong Science and Technology Parks Corporation, Cyberport and other institutions supporting enterprises to develop gerontechnology, and through logistics and supply chain multi-technology R & D Center to accelerate the commercialization of results.
In the area of financial protection, the working group plans to expand cross-boundary pension insurance products, strengthen financial management and anti-fraud education for the elderly, and formulate a guideline on elderly-friendly banking services. At the same time, the government will encourage older persons to participate in the labour market and unleash their labour potential through employment support and training programmes.
Zhuo Yongxing stressed that the relevant measures were implemented by various bureaux in collaboration with cross-sector organisations, the objectives include promoting the consumption of the”Silver-haired people”, improving the quality of products and services, ensuring the financial safety of the elderly and enhancing social productivity. He concluded: “The silver-haired economy is a huge business opportunity. With the concerted efforts of the government and all sectors of society, the quality of life of the elderly can be enhanced and their sense of fulfillment and happiness enhanced.”