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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

$55m controlled medicines seized

Customs today said it detected a case of attempted illegal export of suspected controlled medicines worth about $55 million and arrested several people.   In the operation mounted from September 28 to October 5, customs officers seized about 1.6 million tablets of the controlled medicines at the Hong Kong International Airport, a post office and an industrial unit in Hung Hom and a logistics centre in Sheung Wan.   Over 70% of the seizures were controlled virility products and five people believed to be connected to the case were arrested.   Initial investigation revealed that the arrestees might have laundered the crime proceeds through fund transfers via bank accounts and money service operators to conceal the crime proceeds from overseas areas.   Customs believes it has smashed a syndicate that tried to illegally export controlled medicines, which also involved money laundering of about $20 million in crime proceeds.   People may call 2545 6182 or send an email to crimereport@customs.gov.hk to report suspected illicit activities.
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