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'Silver economy' panel set up

The Commerce & Economic Development Bureau today established the Advisory Panel on Silver Economy and convened its first meeting with the aim of initiating research on the development of Hong Kong’s growing elderly population as a consumer segment.    Chairing the panel, Secretary for Commerce & Economic Development Algernon Yau said the elderly demographic was emerging as an important part of the city’s economy.    He highlighted that many products and services designed to enhance the quality of life enjoyed by elderly residents are spurring growth and business opportunities.    Mr Yau added that promoting such products and services can help to foster the development of the so-called silver economy and unleash business potential in the elderly market, whilst also catering to the aspirations and needs of elderly people. He said this would be the advisory panel’s focus.     At today’s meeting, the panel endorsed its terms of reference, reviewed statistics relating to

2nd trade webinar held

The second webinar on business development in Economic & Trade Co-operation Zones (ETCZs) located in Association of Southeast Asian Nations (ASEAN) member states was held today.    The event was jointly organised by the Commerce & Economic Development Bureau's Belt & Road Office and the Commercial Office of the Economic Affairs Department of the Liaison Office of the Central People's Government (LOCPG) in the Hong Kong SAR.    The webinar sought to enhance Hong Kong enterprises' understanding about prevailing local investment policies, facilities and supporting services as well as preferential terms of the ETCZs to encourage them to make the most of the Belt & Road Initiative by capitalising on the zones.   Commissioner for Belt & Road Denis Yip and Economic Affairs Department Deputy Director-General and Commercial Office of the LOCPG in the Hong Kong SAR Head Liu Yajun spoke at the webinar. Around 400 people had registered to participate.    Mr Yip said that in November last year, 15 economies comprising China, the 10 ASEAN member states, Australia, Japan, Korea and New Zealand signed the Regional Comprehensive Economic Partnership, the largest free trade agreement in the world covering about 30% of the world's total merchandise trade.    Against the global headwinds of protectionism, the pact's signing and implementation will facilitate economic integration in the region and provide a momentous drive to global economic recovery in the post-pandemic era, he added.    Mr Yip noted that the Hong Kong SAR Government has been seeking early accession to the partnership to further strengthen the economic and trade ties between Hong Kong and the participating economies, in particular the trade flows and co-operation with ASEAN.    The partnership will not only facilitate Hong Kong enterprises' investment and construction in the region, but also integrate, reshape and enhance the regional supply chain, opening up bigger and more stable markets for the trade, he said, adding that Hong Kong enterprises developing their businesses in relevant ETCZs will also benefit from the partnership.   Mr Yip also said the bureau and the Ministry of Commerce have been working closely on promoting Hong Kong's participation in the Belt & Road Initiative, adding that both parties plan to help Hong Kong and Mainland enterprises to go global together and visit the ETCZs after the pandemic subsides.
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