Chinese officials fear the impact that this “demographic timebomb” could have on the economy, with the rising costs of aged care and financial support in danger of not being met by a shrinking population of working taxpayers.
The state-run Chinese Academy of Sciences has predicted the pension system in its current form will run out of money by 2035.
A raft of policies have failed to encourage people to have more children, or have not been properly implemented by local governments, which are suffering budget shortfalls after years of running the resource-intensive zero-Covid system.
People frequently cite the high costs of living in China – particularly in larger cities – as well as poor support for women in jobs, as reasons for not having children.
“Though cities have released a slew of … policies to support child-bearing women to give birth, the public’s expectation is still not being met,” He Dan, director of China Population and Development Research Center, told state media outlet the Global Times.
Others were more sceptical, saying a single year baby boom would make life difficult for those children who would later sit for China’s highly competitive college entrance exam.
The original article contains 560 words, the summary contains 194 words. Saved 65%. I’m a bot and I’m open source!
This is the best summary I could come up with:
Chinese officials fear the impact that this “demographic timebomb” could have on the economy, with the rising costs of aged care and financial support in danger of not being met by a shrinking population of working taxpayers.
The state-run Chinese Academy of Sciences has predicted the pension system in its current form will run out of money by 2035.
A raft of policies have failed to encourage people to have more children, or have not been properly implemented by local governments, which are suffering budget shortfalls after years of running the resource-intensive zero-Covid system.
People frequently cite the high costs of living in China – particularly in larger cities – as well as poor support for women in jobs, as reasons for not having children.
“Though cities have released a slew of … policies to support child-bearing women to give birth, the public’s expectation is still not being met,” He Dan, director of China Population and Development Research Center, told state media outlet the Global Times.
Others were more sceptical, saying a single year baby boom would make life difficult for those children who would later sit for China’s highly competitive college entrance exam.
The original article contains 560 words, the summary contains 194 words. Saved 65%. I’m a bot and I’m open source!