Latest news with #silver economy
South China Morning Post
3 days ago
- Business
- South China Morning Post
ByteDance helps jewellery firm Lao Feng Xiang push AI glasses to China's elderly
Advertisement Lao Feng Xiang debuted their initial line of wearable gadgets at Wednesday's opening of the International Exhibition of Senior Care, Rehabilitation Medicine and Healthcare, the world's biggest senior care expo, that is being held in the company's home city of Shanghai until Friday. Powered by ByteDance's AI model Doubao , Lao Feng Xiang's hi-tech eyewear – marketed on the mainland as a 'smart assistant' for the elderly – can help translate menus, interpret instructions about medication and chat with users, according to Wednesday's WeChat post by the jewellery store chain operator. 'In the future, Lao Feng Xiang will continue to plough resources into the field of science and technology for the silver economy,' company chairman Yang Yi said at the Shanghai expo. The so-called silver economy refers to a new market that serves the needs of the country's rapidly ageing population. The company's foray into smart glasses reflects a surge of fresh interest in this wearables segment on the mainland, as new capabilities are made possible by AI to cater to the country's greying population. Lao Feng Xiang chairman Yang Yi, right, tries on a pair of the company's new line of smart glasses powered by ByteDance's artificial intelligence technology. Photo: Handout Yang said Lao Feng Xiang would continue to optimise its new products and cater to 'more consumers'.
South China Morning Post
27-05-2025
- Business
- South China Morning Post
Hong Kong targets elderly consumers with new ‘silver economy' drive
Hong Kong's leader has announced that a working group would unveil five measures to boost consumption among the older population on Tuesday afternoon, with an aim to address the needs of the city's burgeoning elderly market. Chief Executive John Lee Ka-chiu explained that the Working Group Promoting Silver Economy, led by deputy chief secretary Warner Cheuk Wing-hing, would coordinate various service areas within the emerging elderly consumption market to stimulate Hong Kong's economy. '[The working group] would combine the strength of the government, society, commerce and other sectors to echo and serve the needs of the silver-haired, increasing their quality of life and bringing momentum to Hong Kong's economic development,' Lee said ahead of his weekly meeting with the government's top decision-making Executive Council. Lee said that the working group's five policy areas would include bolstering elderly consumption, developing industries that cater to the needs of older people, promoting quality assurance in 'silver economy' products, establishing financial safeguards for the elderly, and unleashing productivity among older individuals. Cheuk and representatives from the working group were expected to outline their policies on Tuesday afternoon. Lee added that the silver economy represented a consumer market with significant potential, as the government estimates that by 2043, people aged 65 or over will constitute more than a third of the city's population.
