BOC Life, Shenzhen Wellbeing and Wellness Group, and Bank of China Shenzhen Branch Establish Tripartite Strategic Partnership to Pioneer New Cross-Boundary Elderly Care Model between Hong Kong and Shenzhen, Promoting New Retirement Finance Practice in GBA

In response to the national retirement finance policies and the integration of the Greater Bay Area (GBA), BOC Group Life Assurance Company Limited (BOC Life), Shenzhen Wellbeing and Wellness Group Company Limited (Shenzhen Wellbeing and Wellness Group), and Bank of China Limited Shenzhen Branch (Bank of China Shenzhen Branch) today signed a Tripartite Strategic Partnership Agreement. By leveraging their respective strengths in financial services and wellness resources, the three parties will jointly develop innovative and comprehensive cross-boundary “Finance + Wellness” retirement solutions, enabling GBA residents to enjoy security, fulfillment, and peace of mind in their golden years. This initiative marks a new chapter in cross-boundary wellness for the seniors.

Seizing the opportunities brought by the “Going North for Retirement” trend and addressing the key challenges of cross-boundary elderly care

As the “one-hour living circle” within the GBA has become more mature with the increased policy support for cross-boundary retirement, the demand among Hong Kong residents to retire in the Chinese Mainland has risen significantly. With the complementary advantages of Guangdong and Hong Kong, deepening cross-boundary elderly-care collaboration has become an important direction for GBA integration. As a pioneer in driving the development of Hong Kong’s retirement-finance market, BOC Life draws on the Group’s strong customer base across the Mainland and Hong Kong to build a distinctive retirement ecosystem. Shenzhen Wellbeing and Wellness Group, a leading force in Shenzhen’s health and wellness development, provides a comprehensive network of residential, community-based, and home-based elderly-care resources delivered with professional service quality. Bank of China Shenzhen Branch, leveraging on the Bank’s global presence and integrated strengths, offers a wide range of personal cross-boundary financial products and services. Through this tripartite strategic partnership, the three parties will combine their strengths to pilot solutions that address the key challenges of cross-boundary elderly-care, jointly exploring and delivering comprehensive retirement services and solutions. This initiative opens up new retirement options for Hong Kong residents and contributes to deepen the GBA integration .
 

Three pillars of collaboration to deliver comprehensive solutions
The strategic partnership between BOC Life, Shenzhen Wellbeing and Wellness Group, and Bank of China Shenzhen Branch will focus on three core areas:
 

1. One-stop personal cross-boundary financial services 
   Guided by the “Financial products + Non-Financial Services Entitlements” design concept, the partnership will provide GBA residents with convenient cross-boundary retirement protection, retirement financial planning, and one-stop services for cross-boundary account opening, fund management, and payment solutions, meeting the diverse financial needs from daily cross-boundary living.
2. Full-life-cycle professional cross-boundary elderly-care services 
   A professional elderly care and daily-living support system will be offered across all life stages, including but not limited to retirecation stays, residential care, community-based elderly care, and home-based elderly care, this will offer Hong Kong residents more comprehensive and high-quality options for retiring in the Chinese Mainland.
3. Comprehensive engagement in the silver-economy sector 
   The three parties will jointly build a new Hong Kong-Shenzhen cross-boundary elderly care model, empowering the elderly-care sector through diversified services and advancing innovation practices in retirement finance across the GBA.

Through deep integration of resources, the tripartite strategic partnership is committed to delivering a one-stop, high-quality cross-boundary elderly-care experience, setting a new benchmark for Hong Kong–Shenzhen collaboration in cross-boundary elderly care services.

Leading innovation to drive silver economy development in the GBA
Mr. Wilson Tang, Chief Executive of BOC Life, stated: “We actively support the national retirement finance policies and the GBA integration strategy. Leveraging the competitive strength of Bank of China Group’s ‘BOC Silver Age’ brand mission, we are committed to safeguarding seniors’ retirement assets while serving the seniors. The accelerating integration of the GBA has given rise to the emerging trend of ‘Going North for Retirement.’ Building on our previous cross-boundary healthcare collaboration, this partnership with Shenzhen Wellbeing and Wellness Group and Bank of China Shenzhen Branch aims to establish a distinctive cross-boundary elderly care model that integrates ‘Finance + Wellness’ to enhance the quality of life for seniors. We look forward to fostering the well-being of GBA residents by leveraging complementary strengths and shared resources, facilitating cross-boundary retirement arrangements, and promoting the efficient alignment of retirement resources between Hong Kong and Shenzhen.”

Mr. Yuan Yang, Vice President of Shum Yip Group; Chairman of Shenzhen Wellbeing and Wellness Group, remarked: “This collaboration represents an innovative integration of elderly care services with financial and insurance solutions. It is also an important initiative in support of the national strategy for the GBA development, and a key step in deepening cooperation in people’s livelihood between Shenzhen and Hong Kong. Shum Yip Group has been long supporting the development of Shenzhen-Hong Kong integration, while Shenzhen Wellbeing and Wellness Group has already established multiple elderly care, childcare, and medical service projects across Shenzhen. Together, the three parties will spearhead innovative collaboration in the ‘Finance + Wellness’ areas, exploring one-stop cross-boundary elderly care solutions. We look forward to taking this signing ceremony as a starting point to build a benchmark for cross-boundary collaborative innovation in the GBA’s livelihood sectors, offering replicable models for integrating services to improve people’s livelihoods between Shenzhen, Hong Kong, and the GBA. It helps providing human warmth and economic vitality into Shenzhen-Hong Kong cooperation and GBA development.”

Mr. Gao Wenming, Deputy General Manager of Bank of China Shenzhen Branch, said: “Adhering to the mission of ‘Serving Society and Benefiting People’s Livelihoods,’ Bank of China Shenzhen Branch is dedicated to become the most trusted financial partner for our customers. In this GBA retirement finance collaboration, we will fully harness our bank’s strengths in capital facilitation, resource allocation, technological innovation, and customer service. The signing of this strategic partnership not only marks a new beginning but also a significant responsibility. Guided by Bank of China’s ‘BOC Silver Age’ retirement finance brand, we will work closely with our partners, offering our utmost sincerity, optimal resources and concrete actions to ensure the full implementation of the agreement and deliver meaningful results. Together, we strive to write a new chapter in the high-quality development of retirement finance.”

This partnership signifies a new milestone in the development of cross-boundary elderly care services in the GBA. BOC Life regards this as the first important step in advancing cross-boundary elderly care initiatives. Looking ahead, it will continue to deepen cross-sector collaboration, integrate financial and wellness resources, and explore innovative service models to build a more comprehensive cross-boundary elderly care ecosystem. By joining forces, the three parties will not only provide seniors with efficient, convenient, and high-quality cross-boundary elderly care solutions, but also establish a new benchmark for collaborative development in elderly care services, further promoting the prosperity of the silver economy development in the GBA.

Mr. Wilson Tang, Chief Executive of BOC Life, stated: “This partnership with Shenzhen Wellbeing and Wellness Group and Bank of China Shenzhen Branch aims to establish a distinctive cross-boundary elderly care model that integrates ‘Finance + Wellness’, improving the well-being of GBA residents by leveraging complementary strengths and shared resources, facilitating cross-boundary retirement arrangements, and promoting the efficient alignment of retirement resources between Hong Kong and Shenzhen.”

Mr. Gao Wenming, Deputy General Manager of Bank of China Shenzhen Branch, said: “In this GBA retirement finance collaboration, Bank of China Shenzhen Branch will fully harness the bank’s strengths in capital facilitation, resource allocation, technological innovation, and customer service. The signing of this strategic partnership not only marks a new beginning but also a significant responsibility. ”

(From the left) Mr. Stephen Chan, Deputy Chief Executive of Bank of China (Hong Kong), Mr. Wilson Tang, Chief Executive of BOC Life, Mr. Hu Yueming, General Manager of Shenzhen Wellbeing and Wellness Group, Mr. Yuan Yang, Vice President of Shum Yip Group; Chairman of Shenzhen Wellbeing and Wellness Group, and Mr. Gao Wenming, Deputy General Manager of Bank of China Shenzhen Branch attended the signing ceremony of the Tripartite Strategic Partnership Agreement. 

(From the left) Mr. Hu Yueming, General Manager of Shenzhen Wellbeing and Wellness Group, Mr. Yuan Yang, Vice President of Shum Yip Group; Chairman of Shenzhen Wellbeing and Wellness Group, Mr. Stephen Chan, Deputy Chief Executive of Bank of China (Hong Kong), Mr. Wilson Tang, Chief Executive of BOC Life, and Mr. Gao Wenming, Deputy General Manager of Bank of China Shenzhen Branch officiated at the “Finance + Wellness” cross-boundary elderly care collaboration ceremony. 

(From the left) Mr. Zhang Shuaiyi, Chief Officer of Shenzhen Wellbeing and Wellness Group, Mr. Ni Chidan, Deputy General Manager of Shenzhen Wellbeing and Wellness Group, Mr. Hu Yueming, General Manager of Shenzhen Wellbeing and Wellness Group, Mr. Yuan Yang, Vice President of Shum Yip Group; Chairman of Shenzhen Wellbeing and Wellness Group, Mr. Stephen Chan, Deputy Chief Executive of Bank of China (Hong Kong), Mr. Wilson Tang, Chief Executive of BOC Life, Mr. Alfred Cheung, Deputy Chief Executive and Chief Sales Officer of BOC Life, Ms. Shelley Li, Head of Project and Strategic Planning of BOC Life celebrated the signing of the Tripartite Strategic Partnership Agreement among BOC Life, Shenzhen Wellbeing and Wellness Group, and BOC Shenzhen Branch.