China’s population declined for the third year in a row in 2024, as deaths outnumbered a small rise in births. According to the National Bureau of Statistics, the population decreased by 1.39 million, bringing the total to 1.408 billion, down from 1.409 billion in 2023. While births slightly increased to 9.54 million, the birth rate remains low at 6.77 per 1,000 people.
This decline is largely due to factors such as the one-child policy’s lasting impact, rapid urbanization, and the high cost of living in cities. These issues have raised concerns about future economic challenges for China.
A shrinking workforce and increasing costs of elderly care are expected to put more pressure on local governments, which are already dealing with significant debt.
Similar to trends seen in Japan and South Korea, economic uncertainties and the high expenses of raising children are discouraging many young Chinese from starting families.
American Dollar Exchange Rate