Ageism and other discrimination

Having rejoined the workforce in 2010 after running my own business for a decade, I now need to find a new job because funding for my position in an NGO had ended. Other positions in the org and similar orgs have been advertised requiring Chinese. Even those wanting a native English speaker also wanted someone who could read Chinese. And the people hired seem to mostly be young mainland Chinese with overseas postgrad degrees. Facing my 48th birthday, I am wondering what opportunities I can look for as a permanent resident with a humanities PhD and publications. I want to leave but my wife wants to stay. I applied for many jobs including English language tutor and couldn't get an interview. Some friends say go back into business, but I would prefer working for somebody else.

Is it me or has the labor market changed in the last 10 years? Are employers only hiring young people?

There is always a little bit of that. Given similar qualifications, employers likely will favor the younger candidate.

However, my guess is that at 48, it is not that bad in HK.

Keep trying, and good luck.