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HomeEconomyWith ageing population, China faces new demographic challenges

With ageing population, China faces new demographic challenges

Population ageing will cause labour shortage, making China lose its demographic dividends, with the retirement of the 1960s “baby boomers”, posing a daunting challenge to the pension system, as meeting their needs could greatly raise debt.

China’s falling birth rate and rapidly ageing population can also be attributed to improved living standards. Unlike the period prior to 1979 when the government introduced its strict family-planning policy, Chinese people today are less willing to have children, leading to declining total fertility rate. China’s demographic trend is similar to that in other East Asian countries, which have not adopted any family-planning policies.

The declining number of women of childbearing age and the unwillingness of most couples to have more than one child because of the high costs of raising kids have further aggravated the situation. To address the problem of an ageing population, the government needs to…

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