On May 27, 2025, the Deputy Chief Secretary Cheuk Wing-hing announced a comprehensive set of 30 measures aimed at promoting the silver economy in Hong Kong. This initiative recognizes the growing importance of the elderly population, not only as a demographic group but also as a significant consumer base with unique needs and preferences. The measures are strategically categorized into five key areas: boosting silver consumption, developing the silver industry, promoting quality assurance of silver products, enhancing financial and security arrangements for seniors, and unleashing silver productivity.
One of the primary focuses of these measures is to boost silver consumption. The government acknowledges the substantial potential for consumption among the elderly, particularly in sectors such as catering, personal hygiene, and healthcare. To stimulate this consumption, a variety of initiatives will be implemented. For instance, exhibitions will be organized to showcase products and services tailored for seniors, while retail concessions will provide discounts and incentives for elderly consumers. Additionally, the introduction of e-commerce platforms will facilitate easier access to goods and services, allowing seniors to shop from the comfort of their homes. A Silver Summit is also planned, which will serve as a platform for stakeholders to discuss and promote silver economy initiatives. Specialized catering options designed specifically for seniors will be developed, ensuring that their dietary needs are met. Furthermore, measures to protect the rights of elderly consumers will be put in place, ensuring that they are treated fairly and with respect in the marketplace.
The development of the silver industry is another critical area of focus. The government recognizes the significant demand for products and services that cater to the health and daily needs of the elderly. This has led to the emergence of what are termed “silver products,” which include innovations in gerontechnology—technology designed to assist the elderly in their daily lives. By fostering the growth of this industry, the government aims to create a robust market that not only meets the needs of seniors but also generates economic opportunities for businesses.
Quality assurance for silver products and services is deemed essential for increasing their acceptance and attractiveness among consumers. By promoting standards and certifications, the government aims to build brand value and expand sales networks for these products. This focus on quality will help ensure that seniors can trust the products they are purchasing, ultimately leading to greater satisfaction and loyalty.
Financial security is another key objective of the silver economy measures. Given the substantial wealth held by seniors in Hong Kong, the government aims to assist them in effectively utilizing their financial resources. This includes providing access to financial management tools and resources that can help seniors make informed decisions about their finances. Additionally, measures will be implemented to protect the financial security of elderly individuals, ensuring that they can enjoy their retirement years without undue financial stress.
To unleash silver productivity, the government is committed to encouraging senior citizens to participate in the labor market. This will be achieved through various employment support initiatives, including training programs designed to equip seniors with the skills needed to thrive in today’s job market. The promotion of elderly-friendly employment practices will also be a priority, ensuring that workplaces are accommodating and supportive of older workers. By facilitating greater participation of seniors in the workforce, the government aims to enhance their quality of life and provide them with a sense of purpose and fulfillment.
The announcement of these 30 measures highlights the significant business opportunities that exist within the silver economy. As the population of seniors continues to grow, so too does the potential for businesses to cater to their needs. The government anticipates that through joint efforts between various sectors and stakeholders, the silver economy will expand, ultimately enhancing the quality of life, contentment, and happiness of seniors in Hong Kong.
In summary, the measures unveiled by the Deputy Chief Secretary represent a proactive approach to addressing the needs of the elderly population in Hong Kong. By focusing on consumption, industry development, quality assurance, financial security, and productivity, the government is laying the groundwork for a thriving silver economy that benefits both seniors and the broader community. As these initiatives take shape, they promise to create a more inclusive and supportive environment for the elderly, ensuring that they can lead fulfilling and dignified lives.
