Gov’t sets up 'Silver Economy' panel

The panel will explore the economic potential of Hong Kong's growing elderly population.

The Commerce and Economic Development Bureau has established the Advisory Panel on Silver Economy tasked to focus on Hong Kong's burgeoning elderly population as a consumer segment.

Chaired by Secretary Algernon Yau, the panel aims to explore business opportunities in products and services catering to the elderly, aligning with the city's evolving economic landscape. 

Yau noted the rising significance of the elderly demographic in the city's economy and the demand for products and services aimed at enhancing the quality of life for elderly residents, which, in turn, presents growth opportunities in business.

In its first meeting, the panel approved its terms of reference, examined statistics regarding the silver economy and government policies, and formulated research priorities.

The panel's establishment was announced in last year's Policy Address by the Chief Executive, with members representing various relevant sectors.