Cheung Wing-hing: Seize the opportunities brought by the silver economy and drive the overall economic development of Hong Kong.

On June 17th, Hong Kong's Secretary for Administration and Deputy Director, Tsowo Wing Hing, attended the founding ceremony and roundtable meeting of the Silver Economy Development Alliance. He stated that the aging population is becoming increasingly serious globally, with Hong Kong's situation being particularly concerning. In the face of the new situation brought about by changes in the population structure, it is necessary to actively address the various challenges brought about by aging and seize development opportunities. He emphasized the need to explore new industries in biomedical engineering, new business models, and to open up new opportunities in Hong Kong amidst changing circumstances. In line with this, the Chief Executive proposed in the 2024 Policy Address the establishment of a working group to promote the silver economy, with Tsowo Wing Hing taking on the role of Vice-Chairman of the working group along with the Secretary for Commerce and Economic Development. Following in-depth discussions and consultations with industry stakeholders, the working group recently announced 30 measures in five key areas. He expressed hopes that the working group and the Development Alliance can work together to promote initiatives that benefit the elderly population, take advantage of the opportunities presented by the silver economy, boost overall economic development, enhance the quality of life for the elderly in various aspects, and increase their sense of fulfillment and happiness.