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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

Nov exports value up 7.4%

The value of Hong Kong’s total exports increased to $386.6 billion in November, up 7.4% on the same month last year, the Census & Statistics Department announced today.

 

The value of goods imports increased 7.1% to $414.6 billion for the same period.

 

A trade deficit of $27.9 billion, or 6.7% of the value of imports, was recorded for November.

 

Comparing the three-month period ending November with the preceding three months on a seasonally adjusted basis, the value of goods exported rose 5.1%, while that of goods imported increased 5.5%.

 

The Government noted that the value of merchandise exports recorded a year-on-year increase due to a low comparison base. Exports to the Mainland rose, those to the US grew modestly, while those to the European Union fell visibly. Exports to other major Asian markets saw a mixed performance.

 

Looking ahead, it added that the challenging external environment will continue to weigh on Hong Kong’s export performance in the near term.


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