Digital Desk: Even though China stands to have the highest population globally, data has shown a drop in China's birth rate. Reports have shown that Mainland China's birth rate declined to a record low in 2021.
China tossed its year-old one-child policy in 2016. Instead, the nation has introduced a two-child policy to avoid the economic risks from a rapidly ageing population. Yet, the high rate of urban lifestyle has prevented couples from having more children.
China's birth rate reports last year indicated to be lowest since 1949. The 2021 birth rate was recorded to have 7.52 births per 1,000 individuals. The National Statistics Bureau collected this data. The bureau has added further added pressure on officials to encourage more births.
According to the data, the biological maturation rate of China's population, which excludes migration, was solely 0.034% for 2021, the lowest since 1960.
"The demographic barrier is well general but the rate of population aging is indeed quicker than anticipated," stated Zhiwei Zhang, chief economist at Pinpoint Asset management.
"This indicates China's total population may have attained its height in 2021. It also demonstrates China's potential change is probably hindering quickly than anticipated," Zhang added.
In complement to allowing partners to have three children, China has been embracing approaches to ease the financial responsibility of raising kids, including prohibiting for-profit after-school education, a huge enterprise, last year.
Reports also indicated that the nation's working-age population is dropping. This indication will pressure the nation's ability to spend and manage for an increasingly aged nation.
The data revealed 10.62 million births in 2021, corresponding with 12 million in 2020. However, Huang Wenzheng, a demography specialist with the Beijing-based Center for China and Globalization, voiced that China's birth rate fluctuate in the 10 million range before dropping further without more guideline modifications.
"Though guidelines will deliver more significant asset for the birth rate in the more elongate run," Huang expressed.
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