China's population set to peak at 1.44 billion in 2029t Shanghai Reuters

China's population set to peak at 1.44 billion in 2029t Shanghai Reuters

China's population set to peak at 1.44 billion in 2029t Shanghai Reuters

However, the population under the age of 15 has decreased by 90.17 million, with an average reduction of 2.25 million per year, said the report released Thursday by the Institute of Population and Labor Economics under the Chinese Academy of Social Sciences in Beijing.

Instead, he estimated the year 2024 or 2025 will be the threshold for population negative growth.

The report says that if the birthrate remains flat, the population will start to decrease in 2027, and decline to about 1.17 billion in 2065. Some 15 million births in 2018 indicate a decline of almost 15 per cent as compared to 2017.

Recent reports said China plans to completely abandon the birth control policy to encourage people to have more children. The growth of the digital economy also brings unique challenges to China's work force, with the paper stressing that the government must place importance on digital talent and digital skills training.

China is aware of the demographic risks of the country and has taken measures to put an end to the one-child policy, allowing people to have a second child in 2015 in order to prevent a large ageing population.

Some experts view this timeline as optimistic.

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2018 for the Chinese population as "a historic turning point", said Yi. By their calculations, China had a withering 10.31 million births and 11.58 million deaths last year - which would make 2018 the first year the population shrunk since famines in the early 1960s.

Latest UN estimates say China has a population of 1.41 billion.

"The birth population in 2017 was 17.23 million".

China ended its decades-old one-child policy in 2016 and permitted couples to have two children as the population of elderly rose with declining numbers of young people.

Previous forecasts reportedly suggest China's elderly population could hit 400 million by 2035, up from 240 million in 2017.

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