By 2035, Beijing is set to transform into a super-aged metropolis, with one-third of its population projected to be 60 or older. ( Pic Credit: Reuters)
The government could face a potential bill of around 180 billion yuan ($26.92 billion) this year to encourage births, according to Reuters estimates. Earlier reporting noted: Chinese policymakers have made population planning a key part of the country’s economic strategy, and this year the government faces a total potential cost of around 180 billion yuan ($26.92 billion) to boost births, according to Reuters estimates. Earlier reporting noted: Beijing had 5.29 million permanent residents aged 60 and above at the end of last year, almost one-quarter of its population, the newspaper said.
The city government is expanding support for older residents, including an increase in the basic pension, according to the report. Population planning has become a central part of China’s economic strategy as policymakers grapple with a rapidly ageing society and declining birth rates.
Earlier reporting noted: The city’s government is stepping up support for elderly residents, including raising the basic pension, the report added.
One in every three Beijing residents is expected to be aged 60 or above by 2035, Beijing daily reported on Saturday. At the end of last year, the Chinese capital had 5.29 million permanent residents aged 60 and above, accounting for almost a quarter of its total population, according to the Reuters. China’s population has been declining since 2022, while the pace of ageing is putting increasing pressure on the country’s economic outlook.
China’s capital, Beijing, is anticipated to become a “super-aged” city by 2035, when nearly one-third of its residents are expected to be aged 60 or older, the official Beijing daily reported. The demographic shift is complicating efforts to stimulate domestic consumption and control debt, as hundreds of millions of people are expected to leave the workforce while pension budgets face mounting strain. You use AI every day. Now get your AI Quotient. Take the AIQ test.
Demographers and economists have warned that lower birth rates today could result in fewer households in the future, potentially slowing consumption growth over the longer term.