The Hong Kong economy further expanded by 3.5% year-on-year in 2025, mainly driven by strong performance in the external sector and improved domestic demand. The Government forecasts a growth of 2.5% to 3.5% in real terms for 2026.

Economic and Trade Information: Hong Kong

<div draggable="false" data-rmip-type="RMIPRow" class="gjs-row"><div draggable="false" data-rmip-type="RMIPCell" class="gjs-cell"><div data-rmip-type="RMIPText" class="rmip-generic"><p><strong>Executive Summary</strong></p></div></div></div><div draggable="false" data-rmip-type="RMIPRow" class="gjs-row"><div draggable="false" data-rmip-type="RMIPCell" class="gjs-cell"><div data-rmip-type="RMIPTextAroundImage" class="rmip-textaroundimage c2147"><div data-rmip-type="RMIPImageAndCaption" class="rmip-imageandcaption c2155"><img data-gjs-type="RMIPImageWithCaption" data-rmip-type="RMIPImageWithCaption" src="https://img-rmip.hktdc.com/eyJidWNrZXQiOiJjbXMtaW1nbGliLXByZCIsImtleSI6IlJNSVAvMjAyNjAzMTAvanlvNGlzYTctVWtVdE1qQXlOaTAzTmpKZlVtVndiM0owWDBOdmRtVnlYMFZPLmpwZWciLCJyZWdpb24iOiJhcC1zb3V0aGVhc3QtMSIsImZvcm1hdCI6ImpwZWciLCJxdWFsaXR5IjoxMDAsImVkaXRzIjp7fX0=" alt="Please click the image to download the report." data-img-is-not-enlarge="true" data-img-link="C:\Users\ctchng\OneDrive - HKTDC\PECO(C)_Wing\20250331 China silver economy\Publication" data-link-is-new-window="true" class="image"/><p data-gjs-type="RMIPCaption" data-rmip-type="RMIPCaption" class="caption">Please click the image to download the report.</p></div><div data-rmip-type="RMIPText" class="rmip-generic c2190"><p>At a time when global population ageing is accelerating, China is one of the countries with the most extensive senior population. By the end of 2025, there were 320 million seniors aged 60 and above on the Chinese Mainland, accounting for about 23% of the population. The Mainland’s elderly population has become a huge group and one with strong demands for various quality consumer goods and services. The Mainland’s silver economy is currently valued at about RMB7 trillion, accounting for roughly 6% of GDP. By 2035, this figure is projected to reach RMB30 trillion[1]&nbsp;, indicating the huge development potential of the silver market.</p><p>The 15th Five‑Year Plan also stipulates that proactive measures should be taken to address population ageing. In fact, the Chinese Mainland has been gradually improving the policy mechanisms for the co-ordinated development of elderly care businesses and sectors. It has also been optimising the provision of basic elderly care services and developing their integration with medical services. The Mainland is also progressively raising the statutory retirement age and optimising age-related policies in the employment, social security and other related areas to actively tap the economic potential of the elderly. From this, it can be seen that the silver economy is one of the important components in the Chinese Mainland’s new round of economic development.</p><p>To get a better understanding of the market situation, the&nbsp;<em>HKTDC</em>&nbsp;conducted a questionnaire survey in 2025 on the Mainland to explore the consumption habits and the needs of its middle-class and higher-income elderly population. The respondents included people in their 50s who are beginning to plan for their retirement, consumers in their 60s who are gradually entering retirement age and those aged 70 and above. The results of the survey were as follows:</p><p><strong><u>The silver generation represents a consumption “blue ocean”</u></strong></p><ul><li><strong>A</strong><strong>ctive consumption:</strong>&nbsp;The Chinese Mainland’s middle-class and higher-income elderly possess considerable spending power. Their average monthly spending on daily consumer goods and services alone reaches RMB7,000[2]&nbsp;. The younger ones, in particular, have even higher average monthly consumption expenditure (more than RMB7,300). For those living in first-tier cities, the average monthly expenditure can be as high as RMB8,000.</li></ul><ul><li><strong>Daily essentials, health and leisure-focused consumption:&nbsp;</strong>The elderly population most frequently buys food and beverages (23.3%), home products (12.6%) and clothing (12.5%). The services they most frequently seek are body wellness (20.3%), beauty and personal care (16.7%), and leisure activities and entertainment (13.1%).</li></ul><ul><li><strong>Happiness is the priority:&nbsp;</strong>In their consumption decisions, the silver generation prioritises leisure and happiness (65%), reasonable pricing and good value for money (63%), and the practicality and reliability of products and services (62%).</li></ul><ul><li><strong>Spend mostly in physical stores:&nbsp;</strong>The elderly shop online less often, only turning to digital platforms for specific products and services. such as home safety aids, leisure activities and entertainment, and paid online cultural and entertainment services.</li></ul><p><strong><u>More than half of elderly consumers have purchased Hong Kong products and services</u></strong></p><ul><li>61% of the surveyed consumers have purchased Hong Kong products in the past year, including health foods (24%), luxury goods (18%), beauty and personal care products (17%).</li></ul><ul><li>54% of respondents have used Hong Kong services in the past year, such as beauty and personal care services (25%), travel access to Hong Kong/Macao/Taiwan (22%), and financial and wealth management services (20%).</li></ul><p><strong><u>Hong Kong brands enjoy a good reputation</u></strong></p><ul><li><strong>Mainland elderly consumers generally consider Hong Kong products authentic and its services professional:</strong>&nbsp;78% and 84% of respondents said they were willing to pay a premium for Hong Kong products and services. The average premium they are willing to pay is 16.4% for products and 15.4% for services. Elderly consumers in first-tier cities show the most willingness to pay premiums for various Hong Kong products and services.</li></ul><ul><li><strong>Hong Kong health foods, food and beverages remain popular.</strong>&nbsp;The Hong Kong products most frequently considered for purchase in the coming year include health foods, and leisure food and beverages.</li></ul><ul><li><strong>Hong Kong's body wellness, beauty and personal care continue to lead.</strong>&nbsp;The Hong Kong services most frequently considered for purchase in the coming year include those related to body wellness, and beauty and personal care.</li></ul><p>The survey results show that the Mainland’s most senior generation is a vibrant, quality-conscious and enjoyment-embracing mature consumer group. Among them, those aged from 50 to 69 and those from first- and second-tier cities are the main consumer power. Not only do they have the financial capability but they are also willing to pay for enjoyment, health and quality. In terms of products, Hong Kong’s food and beverages, and health foods hold definite advantages. In terms of services, personal care, and beauty and personal care are favoured.</p><p>Overall, Hong Kong companies should capitalise on the long-established reputation and professional strengths of the “Hong Kong Brand” by focusing on target groups with stronger spending power, such as elderly consumers in first- and second-tier cities and those who are younger. They should enhance offline experiences and build reputation while improving the product’s value for money and information transparency to stand out in the Mainland’s rapidly growing silver economy.</p></div></div></div></div><div draggable="false" data-rmip-type="RMIPRow" class="gjs-row"><div draggable="false" data-rmip-type="RMIPCell" class="gjs-cell"><div data-rmip-type="RMIPImageAndCaption" class="rmip-imageandcaption"><img data-gjs-type="RMIPImageWithCaption" src="https://img-rmip.hktdc.com/eyJidWNrZXQiOiJjbXMtaW1nbGliLXByZCIsImtleSI6IlJNSVAvMjAyNjAzMTIveWdhaWw0d3ItYzJsc2RtVnlMV2R5WVhCb0xXVnVJRFFnS0RFcC5qcGVnIiwicmVnaW9uIjoiYXAtc291dGhlYXN0LTEiLCJmb3JtYXQiOiJqcGVnIiwicXVhbGl0eSI6MTAwLCJlZGl0cyI6e319" alt="Chart: Capitalise on Hong Kong's Advantages to tap Chinese Mainland sliver economy opportunities" data-rmip-type="RMIPImageWithCaption" data-img-is-not-enlarge="false" data-img-link="" data-link-is-new-window="false" class="image"/><p data-gjs-type="RMIPCaption" data-rmip-type="RMIPCaption" class="caption"></p></div></div></div><div draggable="false" data-rmip-type="RMIPRow" class="gjs-row"><div draggable="false" data-rmip-type="RMIPCell" class="gjs-cell"><div data-rmip-type="RMIPText" class="rmip-generic"><p>Please click the image to download the <a data-cke-saved-href="https://portal.hktdc.com/resources/RMIP/20260409/lz5ytd9i-TWFpbmxhbmQgU2lsdmVyIEVjb25vbXkgT3Bwb3J0dW5pdGllcy1Db25zdW1lciBTdXJ2ZXkgUmVwb3J0LUVuZ19GdWxsX0xPQ0s=.pdf" target="_blank" href="https://portal.hktdc.com/resources/RMIP/20260409/lz5ytd9i-TWFpbmxhbmQgU2lsdmVyIEVjb25vbXkgT3Bwb3J0dW5pdGllcy1Db25zdW1lciBTdXJ2ZXkgUmVwb3J0LUVuZ19GdWxsX0xPQ0s=.pdf">report</a>.</p><hr><p>[1] Source:&nbsp;<em>Blue Book on the Silver Economy: China’s Silver Economy Development Report (2024)</em></p><p>[2] All monetary units in this report are in RMB unless otherwise specified.</p></div></div></div>

At a time when global population ageing is accelerating, China is one of the countries with the most extensive senior population. By the end of 2025, there were 320 million seniors aged 60 and above on the Chinese Mainland, accounting for about 23% of the population. The Mainland’s elderly population has become a huge group and one with strong demands for various quality consumer goods and services.

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