China’s shrinking population Covid-related deaths likely accelerated China’s declining population in 2023, presenting more challenges for a government already dealing with economic deflation and a property crisis DECLINING BIRTH RATE COMBINES WITH RISING DEATHS (millions) Births Deaths Change 30 25 20 15 10 5 0 -5 1980 1985 1990 1995 2000 2005 2010 2015 2020 1979: China implements one child per family policy 2015: Ends one-child policy 2020-2022: Covid-19 pandemic restrictions By 2032, 30% of China’s population is expected to be aged 60 years or over 2023: Population falls by 2.1m 11.1m 9.0m Sources: Bloomberg, Reuters Picture: Getty Images © GRAPHIC NEWS