China’s Government on Thursday said its population grew last year, despite a report that a census might have found a surprise decline, possibly adding to downward pressure on economic growth.
The National Bureau of Statistics gave no details stating that the population figure would be reported later but responding to the report by The Financial Times highlights the political sensitivity of the issue.
The Financial Times said people familiar with China’s 2020 census expect it to show the population, which edged above 1.4 billion in 2019, declined for the first time since famine in 1959-61 killed millions of people.
The ruling Communist Party has enforced birth limits to restrain population growth since 1980, but an outright fall would reduce the flow of workers into the economy when it is trying to shore up growth and reduce poverty.
China’s population has long been expected to peak and decline in line with trends in South Korea and other developing Asian economies but researchers say China’s decline might start before it reaches their income levels.
Developed economies such as Japan and Germany also are trying to figure out how to support aging populations with declining workforces. But they can draw on decades of investment in factories, technology and foreign assets.
China on the other hand has less wealth and its industries need young workers.
Discover more from LN247
Subscribe to get the latest posts sent to your email.
