Beijing, the capital of China, is anticipated to transform into a “super-aging” city by 2035, with nearly one-third of its population projected to be over the age of 60, according to a report from the official newspaper, Beijing Daily.
Chinese policymakers have made demographic planning a critical component of the nation’s economic strategy. This year, the government has earmarked around 180 billion yuan (approximately $26.92 billion) to promote birth rates, as reported by Reuters.
As stated in the report, by 2035, one in three residents of the Chinese capital will be 60 years old or older. At the end of last year, there were 5.29 million permanent residents aged 60 and above in Beijing, which accounts for nearly a quarter of the city’s total population.
The city administration has increased support for elderly residents, including raising the basic pension, the article noted. China’s overall population has been declining since 2022 and is aging rapidly, complicating the government’s efforts to boost domestic consumption and manage national debt.
This demographic shift comes at a time when millions are set to exit the workforce, placing further strain on already stretched pension budgets. Experts in demography and economists warn that the current decline in birth rates could lead to fewer households and slower consumption growth in the long run.
