China's demographic shift has reached a significant milestone, with families now supporting more elderly people than children.
What happened
According to official data, the ratio of dependent elderly people to the working-age population has risen to 23%, surpassing the figure for children, which stands at 22%. This shift is attributed to a combination of factors, including rapid urbanization and the effects of the one-child policy, which was in place from 1980 to 2015.
The latest data from China's National Bureau of Statistics shows that there are now over 223 million people aged 65 and above, accounting for nearly 16% of the country's total population, while there are about 213 million children aged 14 and under.
Experts warn that this demographic shift could place added strain on pension, healthcare, and long-term care systems, while also creating opportunities in the silver economy that caters to older consumers.
The Chinese government has been preparing for an ageing population and has introduced measures to support older people, including financial help for pensioners. However, despite easing restrictions on family size, birth rates in China have continued to decline, posing a challenge to the country's economic growth and spending power.
