Core Viewpoint - The development of the silver economy in Hong Kong is crucial for the overall economic transformation, impacting various sectors such as consumption, dining, elderly products, technology, and finance, while creating significant economic and social benefits [1] Group 1: Silver Economy Development - The Hong Kong government is focusing on the development of the "silver industry," which includes promoting the research, marketization, and industrialization of elderly products [1] - Over 120 elderly technology companies are currently gathered in the Hong Kong Science Park and Cyberport, raising over HKD 150 million in funding over the past three fiscal years [1] Group 2: Collaboration and Innovation - The Hong Kong Applied Science and Technology Research Institute has signed a memorandum of understanding with Po Leung Kuk Hospital to collaborate on various research projects, including advanced AI platforms for health analysis and smart personal care systems [2] - The Logistics and Supply Chain Multi-Technology R&D Centre is working with a local property management company to provide smart robotic services for residents in public housing, including the elderly [2] Group 3: Financial Support and Technology Application - The government has allocated an additional HKD 1 billion to the Elderly and Rehabilitation Technology Application Fund for the 2024-25 fiscal year, expanding its use to suitable home-use elderly technology products [3] - Eligible service units can purchase appropriate technology products for elderly individuals and caregivers to use at home, thereby extending the reach of elderly products from institutions to home environments [3]

Group 1: Elderly Population Growth and Government Initiatives - The elderly population in Hong Kong aged 65 and above is projected to increase from 1.45 million in 2021 to 2.74 million by 2046, representing 36% of the total population [1] - The Hong Kong government is implementing a "home-based care" policy to provide long-term care services for frail elderly individuals, ensuring they receive appropriate care in the community or care homes [1] - A working group led by the Deputy Financial Secretary has developed a plan for "elderly-friendly building design," focusing on accessibility, flexible residential designs, enhancing elderly well-being, and facilitating the use of technology [1] Group 2: Healthcare System Reforms - The Hong Kong government is reforming the healthcare system with a focus on "prevention first, community-based" care, including a pilot program for chronic disease management that offers partial subsidies for screening services [2] - The voluntary health insurance scheme, launched in April 2019, guarantees renewal of coverage until age 100, providing peace of mind for middle-class elderly individuals seeking private healthcare [2] Group 3: Cross-Border Elderly Care and Medical Cooperation - The "Guangdong Residential Care Service Program" offers additional options for eligible Hong Kong elderly individuals, with 15 participating care homes in six Greater Bay Area cities [3] - The Hong Kong government is expanding the "Elderly Medical Voucher Pilot Program" to allow eligible seniors to use medical vouchers at 21 service points across nine cities in the Greater Bay Area [3] Group 4: Retirement Financial Planning - The Hong Kong government has introduced various retirement financial products, including annuity plans and reverse mortgage schemes, to help retirees convert assets into stable monthly income [4] - Reforms to the Mandatory Provident Fund (MPF) system aim to streamline administration and encourage employees to actively manage their retirement savings [4] Group 5: Silver Economy Initiatives - The Hong Kong government has established a working group to promote the silver economy, implementing 30 measures to enhance the quality of life for elderly consumers and stimulate economic activity [5][6] - Initiatives include promoting "silver consumption" and "silver quality assurance" to encourage the development of high-quality products and services for the elderly [6] Group 6: Innovation and Technology in Elderly Care - The Hong Kong government is encouraging public research centers to support R&D projects related to elderly technology, aiming to commercialize innovative solutions for elderly care [6] - The "Elderly and Rehabilitation Technology Application Fund" has been expanded to include suitable home-use elderly technology products for eligible care service units [6]