The declining birth rate in China is a major concern for policymakers, who are worried about the potential impact on the economy. Ma Jiantang, a prominent economist and former party secretary at the Development Research Centre of the State Council, has called for urgent action to address this issue. He highlighted the challenges posed by a low birth rate, an ageing population, and a declining proportion of young people in the country.
Official government statistics reveal that there were only 9.02 million births in 2023, half as many as in 2017. With 11.1 million deaths in the same year, China’s population shrank by 2.08 million in 2023. This trend continued from the previous year, where the population decreased by 850,000. Mr. Ma emphasized that these changes have a significant impact on the economy, with the workforce shrinking by 60 million over 12 years.
In a speech in Shenzhen on May 19, Mr. Ma urged for immediate action to address structural changes in the population and their potential impact on the economy. He proposed policies promoting assisted reproductive technology, registration of children born out of wedlock, improved birth insurance, extended maternity leave, and more childcare centers.
President Xi Jinping previously emphasized the importance of cultivating a new culture of marriage and childbearing for national development. However, young people are choosing to stay single or delay marriage due to poor job prospects, high youth unemployment rates and low consumer confidence in an uncertain economic environment.
These societal factors contribute to China’s declining birth rate and have implications for its future economic growth and stability. As such policymakers must take urgent action to address this issue before it becomes too late for China’s long-term development goals.
