Due to an aging population, expenditure on social welfare would continue to rise in Hong Kong. The report provides a detailed analysis of the issue and advocates the development of Pay-for-Success, an innovative financial policy which can relieve the long-term financial burden of the Government and maintain the welfare of the society through the collaboration of the Government, businesses and community.

Currently, Pay-for-Success is prevalent in the US and the UK as an alternative financial instrument utilized by governments or social enterprises to raise private funds for preventive social projects, the investment return of which hinges on the outcomes of the social services.