China’s population also declines in second year

For the second consecutive year, China's population has recorded a decline, raising concerns about the growth of the world's second-largest economy.

As of the end of 2023, the population stands at 1.409 billion, reflecting a drop of 2.08 million compared to 2022. This decrease, twice the magnitude of the previous year, is attributed to the growth of the urban class and a historically low birth rate.

Despite government initiatives aimed at promoting childbirth, such as the relaxation of the one-child policy in 2015, economic factors like the cost of living and career priorities, exacerbated by the pandemic, continue to deter young couples from expanding their families.

China is currently grappling with various economic challenges, including a property crisis, declining consumer spending, and elevated youth unemployment.