Thank you, Deputy President. In the face of the challenges posed by an ageing population and labour shortage, we need to adopt strategic thinking to formulate a long-term population policy which can both increase the population and lower the age of Hong Kong’s population. I would like to thank Ir Dr LO Wai-kwok for proposing the original motion and the other Members for their amendments, which enable us to have in-depth discussions and put forward proposals to resolve the current population crisis and inject new impetus into Hong Kong’s economy in the future.
First of all, we have to face up to the pressing problem of an ageing population in Hong Kong. As at the end of 2024, the total number of people aged 60 or above was about 2.4 million, accounting for more than 31% of the total population. As at the end of March 2024, there were nearly 200 000 households with all members aged 60 or above, accounting for 25% of the total number of public rental housing (“PRH”) households under the Hong Kong Housing Authority. The rising proportion of elderly people in the population has led to manpower shortages in various industries, increased the burden on the healthcare system, and directly affected the vitality of the labour market and consumption. Economist Prof Richard WONG has pointed out that Hong Kong needs not only to increase its population to 10 million, but also optimize the age structure of its population. In the long run, the only way out for Hong Kong is to attract talents to settle in the city to increase the labour force and economic momentum.
It is suggested that the Government should adopt a two-pronged strategy to continue to optimize the Greater Bay Area (“GBA”) retirement scheme, introduce measures to encourage elderly people aged 65 or above to retire voluntarily in GBA cities, and even explore and pilot more proactive approaches, such as subsidizing elderly people who are willing to surrender their PRH units to purchase properties in the Mainland. At present, PRH units must be surrendered upon death of the tenants. However, subsidizing elderly people to purchase properties in GBA will enable them to own assets which can be passed on to their next generation. This will definitely attract more elderly people to move to GBA. A large number of elderly people surrendering their flats will expedite the circulation of PRH units and even enable the redevelopment of old housing estates or their conversion into talent apartments. Hence, the public funds saved will definitely outweigh the subsidies paid, which is “a smart move”.
In regard to increasing the young population, I suggest that the Government should continuously optimize the Top Talent Pass Scheme in the short term to specifically attract professionals aged 30 or above, as they are at the prime of their careers. This will not only inject vitality into Hong Kong’s economy, but also boost household consumption and education needs.
On the other hand, consideration can be given to redeveloping old districts or amending legislation to allow buildings on existing commercial sites to be converted into talent apartments or hostels with supporting facilities to facilitate their integration into society as soon as possible, thereby creating a liveable environment for internationally competitive talents and attracting talents aged 30 or above to come to Hong Kong to work and settle here.
Population directly impacts Hong Kong’s long-term competitiveness. We must study and formulate a population policy framework as soon as possible, in order to enhance Hong Kong’s attractiveness in regional competition for talents and build a solid talent base for future economic transformation. Effective population planning will enable Hong Kong to maintain stronger consumption power and more vibrant innovation capabilities.
I so submit.