LCQ16: Promoting the development of silver economy
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Question:
The Chief Executive announced in the 2024 Policy Address that a Working Group on Promoting Silver Economy, chaired by the Deputy Chief Secretary for Administration, would be set up to implement measures in five areas to develop the silver economy. In this connection, will the Government inform this Council:
(1) whether it has conducted any survey focusing on the consumption habits, potential and preferences of Hong Kong elderly persons; if so, set out the survey findings by age of the elderly persons; if not, the reasons for that;
(2) of the specific measures to be put in place by the Government to encourage local enterprises to develop the silver economy industry, such as whether it will follow the practice of other regions to introduce tax concessions or subsidy policies; if so, of the respective specific policy directions and timetables; if not, the reasons for that;
(3) as there are views that there is a problem of inadequate elderly care services and related ancillary facilities in Hong Kong, whether the Government will consider discussing with elderly care organisations on the Mainland to follow the operation and management mode of the Hong Kong Housing Society to set up "elderly care buildings" specifically for Hong Kong elderly persons or further developing "Hong Kong-style elderly care towns" in other Mainland cities of the Guangdong-Hong Kong-Macao Greater Bay Area; if so, of the details; if not, the reasons for that;
(4) as there are views that at present, there is a shortage of talents engaging in silver economy-related industries in Hong Kong, whether the Government will consider bringing in relevant talents or enhancing the training of local talents, such as by subsidising the relevant course programmes or strengthening the co-operation with Mainland institutions and organisations in jointly nurturing professional talents; if so, of the details; if not, the reasons for that; and
(5) whether it will consider strengthening the co-operation and co-ordination of public and private sectors, so as to jointly create a sound ecosystem for the silver economy; if so, of the modes of co-operation being explored or implemented by the authorities at present; if not, the reasons for that?
Reply:
President,
The Government attaches great importance to the development of silver economy. The Working Group on Promoting Silver Economy (Working Group), as announced by the Chief Executive (CE) in his 2024 Policy Address, was set up in November 2024. The Working Group is chaired by the Deputy Chief Secretary for Administration, with the Secretary for Commerce and Economic Development as Vice Chairman. At present, the Working Group is proactively formulating work plans and implementation details along five areas, including boosting "silver consumption", developing the "silver industry", promoting "quality assurance of silver products", enhancing "silver financial and security arrangements" and unleashing "silver productivity".
Upon consulting the relevant policy bureaux in the Working Group, the reply to Hon Stanley Li's question is as follows:
(1) As predicted by the Census and Statistics Department, the number of Hong Kong persons aged 65 or above will increase from 1.64 million in 2023 to 2.67 million in 2043, and such proportion out of the total population will increase from about 23 per cent in 2023 to around 35 per cent in 2043. In other words, more than one-third of Hong Kong's population will be elderly by then. The relevant market potential should not be overlooked. On the other hand, the Working Group noted that local universities and their research centres, professional associations, and trade bodies had conducted various surveys on topics such as the consumption, savings habit, and retirement expenses of the local elderly population. Additionally, the Working Group observed that Mainland China and overseas regions had also undertaken different studies and surveys in this area.
The Working Group will continue to make reference to researches and surveys conducted by various institutions or organisations when formulating and implementing relevant measures, and take into full consideration the views of the Legislative Council, the business sector, relevant institutions or organisations, as well as different stakeholders (including the elderly as well as their families and caregivers) to map out the way forward. Members of the Working Group will also, as necessary and in collaboration with the relevant institutions or organisations, conduct surveys and researches on specific issues related to silver economy, with a view to assisting the Government and the industry in developing or optimising the measures.
(2) In the area of developing the "silver industry", the Government will, through promoting marketisation and industrialisation of products catering to the elderly and consolidating funding resources, support product provision and market expansion by the business sector. The Innovation, Technology and Industry Bureau (ITIB) has all along been dedicated to enhancing the innovation and technology (I&T) ecosystem, thereby supporting the development of different technology industries (including gerontechnology). In this connection, the ITIB actively encourages public research and development centres to support and facilitate the realisation and commercialisation of gerontechnology-related projects. Meanwhile, the Hong Kong Science and Technology Parks Corporation (HKSTPC) and Cyberport, as Hong Kong's I&T flagships, have been committed to providing start-ups, including those engaged in gerontechnology, with infrastructure facilities, incubation programmes and one-stop support services. The HKSTPC and Cyberport will also continue to assist the start-ups in establishing connection with the industry through organising different events, strengthening the matching of demand and supply of gerontechnology, and providing a platform for showcasing innovative digital solutions that satisfy the daily needs of the elderly, thereby promoting the development of the "silver industry".
(3) and (4) Developing silver economy involves talents from various fields, including those engaging in industries such as gerontechnology and elderly homes. Various policy bureaux have been maintaining close liaison with the relevant industries and formulating corresponding measures based on the latest industry development and manpower situation, including rolling out talent training schemes for different industries to enrich local manpower resources.
For instance, in nurturing more dedicated care talents, measures implemented by the Social Welfare Department (SWD) include subsidising home managers, health workers and care workers of all residential care homes for the elderly (RCHEs) and residential care homes for persons with disabilities (RCHDs) in Hong Kong to enrol in training courses recognised under the Qualifications Framework; subsidising students to attend the Enrolled Nurse (General) Training Programme for Welfare Sector with the requirement to work as Enrolled Nurse (General) in welfare service organisations recognised by the SWD for a minimum of two or three consecutive years after completion of the training; and planning to establish a new professional rank of Health&Care Practitioner which specialises in providing care services in RCHEs, RCHDs and other elderly/rehabilitation welfare service units. Meanwhile, to enlarge the local I&T talent pool and promote the development of I&T (including gerontechnology), the Innovation and Technology Fund has also devised schemes to facilitate nurturing local talents and attracting I&T talents to Hong Kong.
Regarding opinions on elderly care services and other services for the elderly, various policy bureaux will continue to engage in discussions with the Legislative Council, the business sector, relevant institutions or organisations, and different stakeholders (including the elderly as well as their families and caregivers).
(5) For better co-ordination of each area of work in developing silver economy, apart from the Deputy Chief Secretary for Administration and the Secretary for Commerce and Economic Development being the Chairman and Vice Chairman of the Working Group respectively, members of the Working Group also include the Secretary for Financial Services and the Treasury, the Secretary for Innovation, Technology and Industry, the Secretary for Labour and Welfare and the Secretary for Health. The Working Group will also invite other policy bureaux or departments to discuss related work on a need basis. The Working Group has convened several meetings since its establishment, and attended the Legislative Council Ante Chamber Exchange Session on January 8, 2025, to hear the Legislative Council Members' views on developing silver economy.
The Working Group has been maintaining communication with the trade and stakeholders when formulating measures. It will continue to strengthen cross-bureau co-ordination and leverage joint public-private efforts of the community, the business sector and other relevant fields in order to promote the development of silver economy for addressing the daily needs and preference of the elderly while driving Hong Kong's economic growth. The Working Group is drawing up implementation details of various measures in full steam, and will announce such measures and brief the relevant Panel of the Legislative Council in good time after reporting work progress to the CE.
Ends/Wednesday, May 7, 2025
Issued at HKT 15:01
Issued at HKT 15:01
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