China's Population Drops For The Second Year, With Record-Low Birth Rate

• China's population fell for a second consecutive year in 2023 due to a record low birth rate and the aftermath of COVID-19, with a 0.15% decrease of 2.08 million people.
• The nationwide COVID-19 surge in 2022, following three years of strict measures, contributed to a 6.6% increase in total deaths and a 5.7% decrease in new births in 2023, resulting in a record-low birth rate.
• Economic challenges, including youth unemployment, falling wages, and a property sector crisis, compounded the decline in birth rates in 2023, negatively impacting China's demographic landscape.
• China faces concerns about economic growth due to demographic challenges, such as an ageing population and strained retirement benefits. Despite government measures to encourage childbirth, obstacles like high childcare costs and traditional expectations impede population growth, leading to scepticism among couples.

(Source: Reuters)