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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

August exports value up 25.9%

The value of Hong Kong’s total goods exports increased to $433.7 billion in August, up 25.9% on the same month last year, the Census & Statistics Department announced today.   The value of imports of goods jumped 28.1% to $460 billion for the same period.   A trade deficit of $26.3 billion, or 5.7% of the value of imports, was recorded for the month.   Comparing the three-month period ending August with the preceding three months on a seasonally adjusted basis, the value of exports increased 3.3%, while that of imports rose 3.7%.   The Government said the value of merchandise exports sustained notable year-on-year growth in August.   Exports to the Mainland, the US, the EU and many other Asian economies showed visible increases.   The total merchandise trade value amounted to $6.5099 trillion for the first eight months of the year, surpassing the high in the same period in 2018 by 12.8%, it added.   Looking ahead, the global economic recovery and vibrant regional trade flows should continue to support Hong Kong’s export performance in the near term.   However, the uncertainties on the economic outlook cast by the COVID-19 pandemic development, China-US relations and heightened geopolitical tensions also warrant attention, the Government noted.
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