Beijing's population expected to become super-aged by 2035

BEIJING, Oct 19 (Reuters) - ‌The Chinese ​capital ​Beijing is expected to become "super-aged" by 2035, with around one-third of its population ‌aged 60 and above, the official Beijing Daily ⁠reported.

Chinese policymakers have made population planning a key part ‌of the country's economic ‌strategy, and this year the government faces a total potential cost of around 180 billion ​yuan ($26.92 billion) to boost births, according to Reuters estimates.

• One in every three residents of ⁠the Chinese capital will be aged 60 or above by 2035, ​the Beijing Daily reported on Saturday.

• Beijing had 5.29 million permanent residents aged 60 ​and above at the end ‌of last year, almost one-quarter of its population, the newspaper said.

• The ⁠city's government is stepping up support for elderly residents, including raising the basic pension, the report added.

• China's ⁠population has been shrinking since 2022 and is ageing ​rapidly, complicating government plans to boost domestic consumption and rein in debt, with hundreds of millions of people set ‌to leave the workforce at a time when pension budgets are already stretched.

• ‌Demographers and economists argue that fewer children today ⁠could mean fewer ‌households and slower ​consumption growth over time.

($1 = 6.6860 Chinese yuan renminbi)

(Reporting by Beijing newsroom; Editing by Sonali ‌Paul)

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