BEIJING, Jan 17 (Alliance News): China’s population fell for the third year in a row in 2024, reaching 1.408 billion by year-end, according to data from Beijing’s National Bureau of Statistics.
This marks a continuation of the demographic downturn that began after more than six decades of growth.
While the drop is less severe than in 2023, when the decline more than doubled from the previous year, it underscores China’s struggle with an aging population and persistently low birth rates.
China had ended its one-child policy in 2016, allowing two children per family, and further eased restrictions in 2021 to permit three children.
However, these measures have failed to halt the demographic decline, which analysts attribute to high living costs, the rising number of women pursuing higher education, and workforce participation.
The aging population continues to grow, with those aged 60 and older reaching 310.31 million in 2024, accounting for nearly 25% of the total population. By 2035, they are projected to make up almost a third of the country, according to the Economist Intelligence Unit.
To address the challenge, China implemented a gradual increase in the statutory retirement age starting January 1, a move aimed at mitigating strain on the nation’s pension and healthcare systems.
The retirement age, one of the lowest in the world, had remained unchanged for decades despite improvements in living conditions and life expectancy.
China’s demographic shift comes at a time when the economy, the second largest globally, faces slowing growth and mounting pressure to adapt to a shrinking labor force and aging society.