Chief Executive John Lee Ka-chiu revealed that the Working Group Promoting Silver Economy, under the leadership of deputy chief secretary Warner Cheuk Wing-hing, will spearhead efforts to coordinate services and boost economic activity related to elderly consumers.

According to Lee, the working group will leverage resources from the government, community organizations, businesses, and other sectors to cater to the needs of the aging population, with the goal of enhancing their quality of life and driving economic growth in Hong Kong.he made these remarks prior to his regular meeting with the Executive Council.

The five key policy areas that the working group will focus on include increasing elderly spending, fostering industries that serve older individuals, ensuring quality in products and services for the “silver economy,” establishing financial safeguards for seniors, and promoting productivity among older adults, according to Lee.

Details of the “silver Economy” Plan

Warner Cheuk and other members of the Working Group Promoting Silver Economy are expected to provide further details on the specific policies later today.

“[The working group] would combine the strength of the government, society, commerce and other sectors to echo and serve the needs of the silver-haired.”

Lee emphasized the significant potential of the silver economy as a consumer market, noting that government projections indicate that individuals aged 65 and above will represent over one-third of Hong Kong’s population by 2043.