Hong Kong Commerce and Economic Development Bureau: Hong Kong government continues to promote the development of the "silver industry" to serve the rapidly growing elderly market.

On May 14th, the Commissioner for Innovation and Technology in Hong Kong, Greg So, mentioned that the potential of the silver economy in Hong Kong should not be underestimated. The market for elderly products and services is continuously expanding, bringing business opportunities to companies. Government departments and innovative technology public organizations in Hong Kong will continue to promote the development of the "silver industry". For example, relevant technological innovation institutions will support the development of technology for the elderly, as well as facilitate cooperation between companies involved in elderly technology and the elderly care industry, hospitals, clinics, etc. The government will continue to promote the use of elderly products in households. Greg So pointed out that in the next 20 years, the aging population in Hong Kong will increase significantly. By 2046, more than one in three people living in Hong Kong will be aged 65 or above. With the rapid growth of the silver market, the demand for elderly products and services continues to increase. Introducing new products and services can meet the needs of the elderly, improve their quality of life, and bring business opportunities to companies. In the 2024 Policy Address, the Chief Executive announced the establishment of a task force led by the Deputy Secretary for Administration to promote the silver economy. The task force has been actively engaging with the industry and stakeholders since its establishment, and last May, implemented 30 measures in five categories to promote the silver economy. These measures involve various policy bureaus working together with different sectors and organizations. For example, in promoting "silver consumption", the Commerce and Economic Development Bureau continues to encourage the industry to incorporate elements of the silver economy in various exhibitions. This includes providing discounts for the elderly and focusing on showcasing silver products. The bureau also co-organized the Elderly Tech Expo and Summit with the industry to promote exchanges between local exhibitors in Hong Kong and exhibitors from mainland China and overseas, further expanding business opportunities for the industry. The government also expands the sales network for elderly products through e-commerce platforms, enabling local companies to seize opportunities in the Greater Bay Area and overseas markets. In promoting "silver quality assurance", with the support of the Commerce and Economic Development Bureau, the "Generic Requirements for Healthy Eating (Elderly Care Food)" has been officially included in the "Greater Bay Area Standard" list in September 2025. The Hong Kong General Chamber of Commerce and the Hong Kong Quality Assurance Agency have launched the "Hong Kong Q Mark Happy Aging Program" and the "Hong Kong Registered - Elderly Friendly Series" respectively to certify elderly products and services. Through these certification programs, different elderly products are further promoted in the retail market, providing higher-quality choices for elderly consumers and helping the business sector expand their sales network. In promoting "silver financial and security arrangements", the Financial Services and Treasury Bureau leads the industry in launching or optimizing financial products and services suitable for the elderly, such as "HKMC Retirement 3 Treasure" and savings-focused insurance products, as well as enhancing banks' functions in detecting and preventing scams. In releasing "silver production power", the Labour Department's "Re-employment Subsidy Pilot Scheme" has attracted nearly 75,000 participants and close to 46,000 employment cases, with about a quarter involving participants and cases aged 60 and above. The Labour Department is currently conducting a midterm review of the scheme to explore further measures to encourage elderly employment. In response to the challenges posed by the aging population, the Chief Executive announced the establishment of a Social Aging Strategy Task Force led by the Deputy Secretary for Administration in the 2025 Policy Address. Members of the task force cover all 15 policy bureaus and discuss how to effectively utilize social resources and market forces, promote cross-sector collaboration, harness the synergies between government policies and private initiatives, formulate timely responses, and actively promote the vibrant development of Hong Kong's silver economy. Regarding the motion proposed by lawmakers on the standards for elderly care services in the Greater Bay Area and mutual recognition systems, the "Greater Bay Area Standards" have been published with several standards related to elderly care services and management of elderly institutions. Hong Kong encourages the industry to refer to these standards and explore the feasibility of mutual recognition of relevant standards to fully leverage the potential for coordinated development in the Greater Bay Area.