HKUST Institute for Emerging Market Studies, EY and Golden Age Foundation Sign MoU to advance “Smart Ecosystem for the Silver Population” in the Guangdong-Hong Kong-Macao Greater Bay Area
A group photo of the representatives of the three parties, Prof. TAM Kar-Yan, HKUST Vice-President for Administration and Business and Acting Director of Institute for Emerging Market Studies (front row, right), Ms. Jasmine LEE (front row, left), EY Hong Kong and Macau Managing Partner, and Prof. Rebecca YUNG CHOY, Golden Age Foundation Founder and Chair (front row, middle), and the witness, the Under Secretary for Labour and Welfare Mr. HO Kai-Ming (back row).
The Hong Kong University of Science and Technology (HKUST) Institute for Emerging Market Studies, EY1 and Golden Age Foundation 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.
Professor TAM Kar-Yan, HKUST Vice-President for Administration and Business and Acting Director of Institute for Emerging Market Studies stated, “Confronting the global challenge of aging populations, technology must become the driving force behind “joyful aging”. HKUST has been committed to translating cutting-edge research into practical solutions—from pioneering the world's first blood test for early-stage Alzheimer's detection to developing FDA-approved AI health monitoring systems. We are redefining elderly care through innovation. This tripartite collaboration will connect these technological breakthroughs with the Silver Economy needs of the Greater Bay Area. By empowering seniors through health tech, smart aging solutions, and financial inclusion initiatives, we aim not only to enhance quality of life for older adults but to co-create a “Smart Aging Ecosystem” where research delivers tangible social impact. This embodies HKUST's mission to transform research into real-world influence.”
Ms. Jasmine LEE, EY Hong Kong and Macau Managing Partner said “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 said, “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.”
1Footnote: EY member firms in Hong Kong
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 Education’s Young University Rankings 2024, 19th Worldwide and No.1 in Hong Kong in Times Higher Education’s Impact Rankings 2025. Thirteen HKUST subjects were ranked among the world’s 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 world’s 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 Kong’s 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)
About HKUST Institute for Emerging Market Studies
Established in 2013, HKUST Institute for Emerging Market Studies (IEMS) provides thought leadership on issues facing businesses and policymakers in emerging markets. Building on the research strengths of the faculty at the Hong Kong University of Science and Technology, the research Institute focuses its research and activities in relation to Greater Bay Area; Belt and Road, ESG, human capital, employment, and structural change; firms strategies, innovation and entrepreneurship; global economic integration; and financial development. The Institute supports world-class faculty research by providing funding, developing collaboration with research partners worldwide, and disseminating evidence-based insights to the academic and public policy communities through events, research publications and online channels.
About EY
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.
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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.
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