Press release

1.8 EY, Golden Age Foundation and HKUST Institute for Emerging Market Studies sign MoU to advance “Smart Ecosystem for the Silver Population” in the Guangdong-Hong Kong-Macao Greater Bay Area

Press release

2025年8月1日

 

EY, Golden Age Foundation and HKUST Institute for Emerging Market Studies sign MoU to advance “Smart Ecosystem for the Silver Population” in the Guangdong-Hong Kong-Macao Greater Bay Area

(Hong Kong, 1 August 2025) EY[1], Golden Age Foundation and HKUST Institute for Emerging Market Studies have jointly announced the signing of a Memorandum of Understanding (MoU) to officially activate the development of the “Smart Ecosystem for the Silver Population” in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). This initiative aims to promote the development of the region’s elderly care industry. The signing ceremony, held during the “BOC Life 10th Golden Age Expo and Summit,” was witnessed by Mr. Ho Kai Ming, JP, Under Secretary for Labour and Welfare of the Hong Kong Special Administrative Region.

 

The “silver economy” is rapidly emerging as a growth engine and driving regional economic transformation and innovation. The GBA holds enormous potential for the silver market. This MoU will focus on four key areas of collaboration: strategic planning, empowerment of the elderly, cross-sector collaboration and piloting innovation practices for the future. The objectives include enhancing the financial management skills and technological literacy of the elderly, unleashing their productivity, and promoting innovative solutions in healthcare, technology and social fields. This initiative aims to foster a silver-inclusive society and drive innovation in the smart ageing industry.

 

Jasmine Lee, EY Hong Kong and Macau Managing Partner, says: “The silver economy is gaining remarkable momentum across the GBA, bringing transformative shifts to the elderly care sector, including innovative breakthroughs in cross-border integration. To fully harness the immense potential of the GBA’s vast smart-aging market, cross-sector collaboration among healthcare, technology and finance is critical. In line with government policies advocating for the silver economy, we are honored to unite the strengths of industry, academia and research to build a dynamic smart aging ecosystem. Leveraging our extensive resource network, we will contribute our strategic insights and professional capabilities to pioneer new frontiers in elderly care and seize emerging opportunities presented by the evolving silver economy.”

 

Professor Rebecca Yung Choy, Golden Age Foundation Founder and Chair, says:

“The Golden Age Foundation is honored to collaborate with EY and HKUST Institute for Emerging Market Studies. This marks a significant milestone in our efforts to promote the coordinated development of the silver ageing industry in the GBA. Through collaborations across academic research and professional services, we aim to foster a more inclusive and desirable living environment for the golden agers and unleash the enormous potential of the silver economy.”

 

Professor Tam Kar Yan, Vice-President for Administration and Business and Acting Director of Institute for Emerging Market Studies of The Hong Kong University of Science and Technology, says: “Technology must drive ‘joyful aging’ in response to the global challenge of aging populations. HKUST is committed to translating cutting-edge research into practical solutions, such as the world’s first blood test for early Alzheimer’s detection and FDA-approved AI health monitoring systems. This tripartite collaboration aims to connect these innovations with the Greater Bay Area’s Silver Economy needs, enhancing the quality of life for seniors and co-creating a ‘Smart Aging Ecosystem’ that embodies HKUST’s mission to transform research into real-world influence, delivering tangible social impact.”

 

EY | Building a better working world

EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets.

Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.

EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.

 

All in to shape the future with confidence.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients, nor does it own or control any member firm or act as the headquarters of any member firm. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

About Golden Age Foundation

Golden Age Foundation (GAF) is a multi-sector platform that fosters the development of smart ageing cities in Asia. By generating innovative ideas that bring positive impact to society and developing the golden age movement with creative events and training programmes, GAF empowers golden agers – individuals aged 45 and above – to continue to contribute to society and lead purpose-driven lives. GAF advocates for a paradigm shift to empower golden agers to plan ahead for the second half of their lives and become society’s new driving force. By organising the golden age movement imbued with innovative life-long learning programmes and community engagement activities, GAF creates new opportunities for individuals to rewire their perception of retirement by establishing healthy and positive ageing mindsets and actions that benefit society.

About The Hong Kong University of Science and Technology

The Hong Kong University of Science and Technology (HKUST) (https://hkust.edu.hk/) is a world-class university that excels in driving innovative education, research excellence, and impactful knowledge transfer. With a holistic and interdisciplinary pedagogy approach, HKUST was ranked 3rd in the Times Higher Educations Young University Rankings 2024, 19th Worldwide and No.1 in Hong Kong in Times Higher Educations Impact Rankings 2025. Thirteen HKUST subjects were ranked among the worlds top 50 in the QS World University Rankings by Subject 2025, with Data Science and Artificial Intelligence holding the 17th place, maintaining its position as first in Hong Kong. Our graduates are highly competitive, consistently ranking among the worlds top 30 most sought-after employees. In terms of research and entrepreneurship, over 80% of our work was rated Internationally excellent or world leading in the latest Research Assessment Exercise 2020 of Hong Kongs University Grants Committee. As of May 2025, HKUST members have founded over 1,800 active start-ups, including 10 Unicorns and 17 exits (IPO or M&A).

 

For Media enquiries, please contact

 

Golden Age Foundation

Sandy Ip

Tel: 9323 1098

E-mail: sandy.ip@goldenage.foundation