Abstract: As an economically free haven, where east meets west, Hong Kong is aging fast. Since recent years, especially the post colonial period, Hong Kong has developed a special welfare system for the elderly. This paper introduces oldage security and elderly services in Hong Kong in detail. Nowadays the elderly welfare system in Hong Kong is closely related to its economic, political, social and cultural context. Faced with challenges, it is foreseeable that elderly welfare reforms should correspond to present situations and public opinions in Hong Kong as well. As a conclusion, it argues that the oldage security and elderly welfare system which is provided by the HKSAR government, is meaningful to mainland China in the sense that the mainland is developing and aging rapidly.