Event Details
By the end of 2024, the population aged 60 and above in China accounted for 22% of the total population. According to our forecast, this figure is set to rise to 32.7% by 2035, which translates to over 450 million peopleโroughly the combined population of the United States, the United Kingdom, Australia, and Canada. In contrast, China's birth rate has been steadily declining in recent years. If we extend the timeline, this decline appears almost precipitousโover the past eight years, the number of births has halved, from 18.83 million newborns in 2016 to just 9.02 million in 2023, with an estimated 9.54 million in 2024 (temporarily boosted by traditional beliefs surrounding the Year of the Dragon).
This demographic shift signifies a monumental change in China's population age structure over the next 10-15 years, propelling the country into what is widely referred to as a "deeply aging society." Unlike other economies, China is simultaneously experiencing a combination of shrinking birth rates, large-scale population shifts, rapid aging, and increasing longevity, all of which are accelerating the transformation of its demographic landscape.
These significant changes in age structure will have varying degrees of impact across industries, with particular focus on sectors such as broad-based consumer goods and healthcare: Different age groups exhibit vastly different consumption preferencesโfor example, younger people tend to favor durable goods like automobiles and have regular demands for fashion accessories, while older populations show robust demand for healthcare services.
In this event, we will invite leaders from the consumer and healthcare industries to share their insights on the future market changes driven by demographic shifts, as well as the challenges and opportunities associated with this transformation. Additionally, considering the pressing issues of birth rates and aging, we anticipate that new policy guidelines will be introduced during this year's Two Sessions. During the event, we will also provide an interpretation of some key population structure-related policies discussed at the Two Sessions.
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