China's Population Shrinks For 2nd Straight Year

China reported a record-low birth rate in 2023 as its population shrank for the second year in a row, Laura He and Simone McCarthy reported for CNN.

The birth rate is the lowest since the founding of the People’s Republic of China (PRC) in 1949.

The trend marked the deepening of a demographic challenge set to have significant implications on the world’s second-largest economy.

The country recorded 6.39 births per 1,000 people, down from 6.77 a year earlier, China’s National Bureau of Statistics (NBS) announced. The birth rate is the lowest since the founding of the People’s Republic of China (PRC) in 1949.

The country’s demographic shift comes at a time when its growth is sputtering. The NBS confirmed that China’s economy grew by 5.2% last year, compared to a government target of around 5%.

While this expansion marks a significant pick-up over 2022 when China’s economy grew by just 3%, it is still one of the country’s worst economic performances in over three decades.

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