Analysis of the Current Situation and Countermeasures for Aging Finance in the Guangdong-Hong Kong-Macao Greater Bay Area
Abstract
New York and San Francisco Bay Areas, ranking among the top globally. However, with the accelerating aging population (the proportion
of people aged 65 and above reaching 13.6%), aging finance has become a crucial tool to address pension challenges and achieve sustainable development.
??This paper analyzes the current state of aging finance in the GBA. The nine mainland cities have established a system centered on
pension finance, elderly care service finance, and elderly care industry finance, while Hong Kong and Macao rely on multi-pillar pension
systems and market-oriented investment strategies. Additionally, the paper explores how the GBA enhances financial practicessuch as
economic security for the elderly, service accessibility, and resource allocationthrough diversified financial products, cross-border collaboration, technology empowerment, and industrial integration. Nevertheless, aging finance in the GBA still faces four major challenges:
insufficient policy and regulatory coordination, an imperfect pension system, structural imbalances in financial products, and uneven distribution of elderly care resources.
??To address these issues, this paper proposes five strategic recommendations: improving the policy and regulatory framework by establishing cross-border coordination mechanisms and legal details; promoting product and service innovation by developing differentiated, fintechenabled financial products; strengthening cross-border cooperation to facilitate capital flows and harmonize service standards; fostering market development and investor education to raise awareness of retirement planning; and optimizing the development environment by enhancing
infrastructure and industrial integration. Through these measures, the GBA can build a multi-tiered, cross-regional aging finance ecosystem,
providing financial support to tackle aging challenges while driving high-quality regional economic development.
Keywords
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DOI: http://dx.doi.org/10.70711/frim.v3i8.6948
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