China population: a shrinking workforce is chipping away at nation’s ‘demographic dividend’, so where are the new policies?
- Policy influencers such as legislative delegates and demographers are calling for expedited reform after an earlier-than-expected decline in China’s population
- Fresh policies were expected to be discussed at the ‘two sessions’ parliamentary gatherings, but critics say the government must be more swift and resolute
03:43
Nannies-in-training fight to stay competitive amid falling birth rate in China
China has a closing window of opportunity to reform its antiquated restrictions on retirement and rural mobility, according to policy influencers who are concerned about the nation’s failure to better tap into its “demographic dividend” and address an urgent need to cultivate a larger working-age cohort to support fewer retirees.
A widening demographic imbalance – resulting from a low birth rate combined with a rapidly ageing population – continues to plague the world’s second-largest economy, which long benefited from a huge demographic dividend.
And how this will affect China’s economic prospects is a hotly debated topic full of nuance.
In recent weeks, it was widely expected that the new leadership structure under President Xi Jinping would introduce fresh policies to address concerns over demographic changes, but this year’s government work report did not go into much detail about how those changes will be addressed.
02:12
Working until 70: Ageing in northeast China signals looming pension crisis
Beijing proposed improving its work system for the elderly, and actively responding to the ageing issue, in its institutional reform plan on Tuesday.
