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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

6,000 get Newborn Baby Bonus

The Government announced today that it has started to disperse the one-off Newborn Baby Bonus of $20,000 to the first batch of about 6,000 eligible parents.


This comes following the completion of the required internal procedures after it obtained the Legislative Council Finance Committee’s funding approval on January 19.


The eligible parents’ applications were submitted between October 25 last year and mid-January this year. Upon disbursement, payees will be notified by SMS messages through a designated telephone number, (852) 5928 7409.


The Government reminded the public that no hyperlink will be included in the SMS notifications of bonus disbursements, and added that people should stay vigilant against Newborn Baby Bonus scams.


Separately, it pointed out that from now on, provided that the information provided by eligible applicants is correct, the applicants will receive the Newborn Baby Bonus via their designated bank account in about two to three weeks from the time of application.

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