China’s population has decreased for the third consecutive year, according to the latest data from the National Bureau of Statistics (NBS). The country’s population stood at 1.412 billion at the end of 2024, marking a decline of 1.1 million from the previous year.
This continued decline has sparked concerns among policymakers and experts, who warn that China’s aging workforce and shrinking population could have significant implications for the country’s economic growth and social stability.
The decline in population is attributed to a combination of factors, including a low fertility rate, aging population, and declining number of women of childbearing age. China’s fertility rate, which measures the average number of children a woman has during her reproductive years, has been below the replacement rate of 2.1 since the 1990s.
The Chinese government has implemented various policies to encourage families to have more children, including cash incentives, tax breaks, and expanded parental leave. However, these measures have had limited success, and the population decline is expected to continue in the coming years.
The implications of China’s population decline are far-reaching. A shrinking workforce could lead to labor shortages, reduced economic growth, and increased burden on the pension system. Additionally, the aging population could put pressure on the healthcare system and social services.
To address these challenges, the Chinese government is exploring new policies and strategies, including increasing immigration, investing in automation and artificial intelligence, and promoting education and training programs to upskill the workforce.
As China’s population continues to decline, the government and policymakers face significant challenges in ensuring the country’s economic and social stability.
Sources:
¹ Bloomberg: “China’s Population Declines for Third Year as Births Fall”
² Reuters: “China’s population falls for third consecutive year”
³ National Bureau of Statistics of China: “Statistical Communiqué on the 2024 National Economic and Social Development”
⁴ The New York Times: “China’s Population Is Shrinking, and It’s a Big Problem”
