Jan 17, Kathmandu- China's population is in decline after more than six decades of population growth. China's population declined for the third consecutive year in 2024, reversing a decline that began more than six decades ago.

India is set to overtake China, once the world's most populous country, in 2023, and Beijing has sought to boost its declining birth rate through subsidies and pro-fertility propaganda.

China's population, which was 1.41 billion in 2023, will reach 1.48 billion by the end of 2024, according to the National Bureau of Statistics in Beijing.

The decline was less rapid than in 2022, the data showed.

China ended its one-child policy in 2016, which was implemented in the 1980s due to fears of overpopulation, and in 2021 allowed couples to have three children.

But it has failed to reverse the demographic decline of a country that has long relied on its massive labor force as a driver of economic growth.

Many have attributed the decline in birth rates to the rising cost of living, as well as the increasing number of women entering the workforce and pursuing higher education.

According to the Economist Intelligence Unit, by 2035, about a third of China's total population will be over the age of 60.

According to the statistics released on Friday, the population of the age group of 60 years and above has reached 313 million. This is just a few percent less than a quarter of the country and a few percent more than the 297 million recorded in 2023.

The data showed China's birth rate, which is among the lowest in the world, rose slightly from the previous year to 6.77 per 1,000.

In September, authorities said they would gradually raise the statutory retirement age, set at 60, after decades of being left out. The rule took effect on January 1.

China's previous retirement age was set at a time of widespread poverty and deprivation before rapid economic, nutrition, health and living standards improved.

The world's second-largest economy has struggled with sluggish growth in recent years.