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Opinion | Does Hong Kong want a ‘silver economy’ or to send seniors to the mainland?

The city needs a coherent approach if it wants to tap into the economic potential of its senior citizens

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Chief Executive John Lee Ka-chiu speaks with elderly residents at Lek Yuen Estate in Sha Tin, on September 28. Photo: Edmond So
Despite Chief Executive John Lee Ka-chiu’s repeated calls for change, the government has yet to show signs it is walking its own talk. The most evident example is how it is dealing with Hong Kong’s rapidly ageing society. And no, it did not just dawn on our bureaucrats that we have an ageing population. We have been encouraging senior citizens to retire across the border for a decade.
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The message has basically been: why not go where there’s more space, many entertainment options and lower living costs? Of course, that’s all without taking into account the familial support seniors might need. The subtext of this message is clear: Hong Kong is short on space so, having contributed to the city’s development, make room for those who can be more productive.

Nowadays, it’s not just seniors supposedly enjoying more space, better service and lower costs across the border. The weekend exodus of Hongkongers to the mainland has become a given. It’s unrealistic and inappropriate to try and prevent Hongkongers from spending their cash in mainland China, the chief executive said after his latest policy address.
Just last year, Lee had said that those who leave the city to spend on the mainland only accounted for a small percentage of the total population so we shouldn’t consider this trend to be “exporting consumption”. Lee now seems to have changed his tune. As far as the government is concerned, consumers have altered their behaviour and it’s up to local businesses to reinvent themselves.
And since so many locals travel to the mainland to shop now, they can visit elderly residents during their trips, Secretary for Labour and Welfare Chris Sun Yuk-han said last week. Sun called the government’s push for the elderly to seek greener pastures up north a “win-win” situation. It’s indeed a win-win situation in terms of exporting consumption and senior citizens.

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Hongkongers hunt for roast chicken, soap and more bargains at US warehouse store in mainland China

Hongkongers hunt for roast chicken, soap and more bargains at US warehouse store in mainland China
Yet, in the latest policy address, we find that the government is trying to develop the “silver economy”, something the chief executive has mentioned before. Last year, the Lee administration seemed to have finally found the silver lining in the ageing “problem”.
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