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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

FS meets leaders at global forum

Financial Secretary Paul Chan met various political and business leaders and gave two speeches at the ongoing World Economic Forum (WEF) Annual Meeting in Davos, Switzerland yesterday.


Mr Chan attended bilateral meetings with a number of financial and economic officials from the Middle East and Central Asia.


These included Bahrain’s Minister of Finance & National Economy Shaikh Salman bin Khalifa Al Khalifa and its Minister of Industry & Commerce Abdulla Adel Fakhro. He also met Qatar’s Minister of Finance Ali bin Ahmed Al Kuwari and Kazakhstan’s Minister of National Economy Alibek Kuantyrov.


Mr Chan invited countries in the Middle East and Central Asia to make use of Hong Kong’s highly efficient and robust financial market to facilitate the development, promotion and financing of enterprises and projects.


He also met Minister of Economy & Finance of Italy Giancarlo Giorgetti and Governor of the Central Reserve Bank of Peru Julio Velarde Flores. They exchanged views on the current global financial environment and geopolitical situation, as well as on green transformation.


During a keynote speech at a lunch event, Mr Chan said that China continues to be open to the world and will continue to create strong momentum for the development of the world economy.


He added that through leveraging the unique advantages of “one country, two systems”, Hong Kong is striving to enhance its position as an international financial centre, and acts as a bridge between the Mainland and the world to forge win-win co-operation.


The finance chief then joined a China-themed event in the evening. He delivered a speech at the dinner outlining Hong Kong’s role as a connector and a gateway in assisting the economic development of China and Asia.


Mr Chan also gave interviews to Hong Kong, Mainland and international media.

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