Page 7 - THE SOUTH CHINA BUSINESS JOURNAL
P. 7
ina released data from its once a decade census IMF. Thus, while India will soon surpass China
on May 10, 2021, offering new insights on the in population size, China will remain a far more
country’s demographic trends. valuable market for the foreseeable future given the
far higher spending power and disposable income of
The census, which was the first since 2010, showed
that China’s population is growing at a slower 2individual consumers.
pace than before, aging quickly, and becoming Increasing scope for
increasingly well-educated. Moreover, internal investments in healthcare
migratory trends reveal regional distinctions in and elder care
economic vibrancy and quality of life.
The census revealed that 190.64 million people, or
Due to China’s historically rapid economic 13.5 percent of China’s population, are 65 years or
development and initiatives, such as the one-child older, a sizeable increase from 8.9 percent in 2010.
policy, the country has a demographic profile that is
distinct from any other country. When the age bracket is lowered to 60 and older,
there were 264.02 million people, representing 18.7
Here, we look at what five demographic trends percent of the population, up from 13.26 percent a
revealed by the census mean for foreign investors, decade earlier. Overall, the average age in China is
industry growth, and macro-economic development 38.8 years old.
1in China. When announcing the results of the census, Ning
China is still the world’s Jizhe, the head of the National Bureau of Statistics,
most populous country said “Aging has become a basic national condition
and offers an unparalleled of China for a period of time to come.”
consumer base
While it is typical for countries to age and birth
The census results reaffirmed China’s status as the rates to slow as they become more developed, as has
world’s most populous country, as the population grew been the case with Japan and South Korea, China
by 72 million, or 5.38 percent, since the last census is aging at a faster rate due in part to the one child
in 2010, for a total of 1.41 billion. That means that policy, which was eliminated in 2016.
18.11 percent of the world’s population is found within
China’s borders. The new population added over the Where the opportunity lies
last decade alone is more than the entire population of
countries, such as France, Italy, and Thailand. The increase in the size of the elderly population
will demand unprecedented investments in China’s
Yet, it was the slowest population increase since the elder care industry. Healthcare was already among
People’s Republic’s first modern census in 1953. China the highest priority investment areas for the Chinese
had 12 million births in 2020, the lowest since 1961 government after the COVID-19 pandemic exposed
when the country suffered a famine, compared to 14.65 gaps in the system, and the country’s aging population
million in 2019. From 2010 to 2020, the population only adds more pressure to improve service provision.
grew at an average rate of 0.53 percent per year.
Increasingly affluent working age adults may turn to
China’s slowing population growth means that India, private sector services, such as long-term care facilities,
which in 2020 had a population of 1.38 billion and a to tend for their parents and grandparents due to
higher birth rate, will likely become the world’s most limitations in the public healthcare system. In addition
populous country in the coming years. However, in to elder care services, the aging population will require
contrast to India – and even China 10 years ago – products, such as pharmaceuticals, medical devices,
China’s combination of population size and wealth and disability aids, in greater numbers.
make it an unmatched consumption market.
Family planning update – May 31, 2021
Where the opportunity lies
As per a meeting held by the Political Bureau of
In 2020, China’s GDP per capita was US$10,483.88, the Central Committee of the CPC on May 31, it
while India’s was US$1,964.88, according to the
SOUTH CHINA BUSINESS JOURNAL 4
on May 10, 2021, offering new insights on the in population size, China will remain a far more
country’s demographic trends. valuable market for the foreseeable future given the
far higher spending power and disposable income of
The census, which was the first since 2010, showed
that China’s population is growing at a slower 2individual consumers.
pace than before, aging quickly, and becoming Increasing scope for
increasingly well-educated. Moreover, internal investments in healthcare
migratory trends reveal regional distinctions in and elder care
economic vibrancy and quality of life.
The census revealed that 190.64 million people, or
Due to China’s historically rapid economic 13.5 percent of China’s population, are 65 years or
development and initiatives, such as the one-child older, a sizeable increase from 8.9 percent in 2010.
policy, the country has a demographic profile that is
distinct from any other country. When the age bracket is lowered to 60 and older,
there were 264.02 million people, representing 18.7
Here, we look at what five demographic trends percent of the population, up from 13.26 percent a
revealed by the census mean for foreign investors, decade earlier. Overall, the average age in China is
industry growth, and macro-economic development 38.8 years old.
1in China. When announcing the results of the census, Ning
China is still the world’s Jizhe, the head of the National Bureau of Statistics,
most populous country said “Aging has become a basic national condition
and offers an unparalleled of China for a period of time to come.”
consumer base
While it is typical for countries to age and birth
The census results reaffirmed China’s status as the rates to slow as they become more developed, as has
world’s most populous country, as the population grew been the case with Japan and South Korea, China
by 72 million, or 5.38 percent, since the last census is aging at a faster rate due in part to the one child
in 2010, for a total of 1.41 billion. That means that policy, which was eliminated in 2016.
18.11 percent of the world’s population is found within
China’s borders. The new population added over the Where the opportunity lies
last decade alone is more than the entire population of
countries, such as France, Italy, and Thailand. The increase in the size of the elderly population
will demand unprecedented investments in China’s
Yet, it was the slowest population increase since the elder care industry. Healthcare was already among
People’s Republic’s first modern census in 1953. China the highest priority investment areas for the Chinese
had 12 million births in 2020, the lowest since 1961 government after the COVID-19 pandemic exposed
when the country suffered a famine, compared to 14.65 gaps in the system, and the country’s aging population
million in 2019. From 2010 to 2020, the population only adds more pressure to improve service provision.
grew at an average rate of 0.53 percent per year.
Increasingly affluent working age adults may turn to
China’s slowing population growth means that India, private sector services, such as long-term care facilities,
which in 2020 had a population of 1.38 billion and a to tend for their parents and grandparents due to
higher birth rate, will likely become the world’s most limitations in the public healthcare system. In addition
populous country in the coming years. However, in to elder care services, the aging population will require
contrast to India – and even China 10 years ago – products, such as pharmaceuticals, medical devices,
China’s combination of population size and wealth and disability aids, in greater numbers.
make it an unmatched consumption market.
Family planning update – May 31, 2021
Where the opportunity lies
As per a meeting held by the Political Bureau of
In 2020, China’s GDP per capita was US$10,483.88, the Central Committee of the CPC on May 31, it
while India’s was US$1,964.88, according to the
SOUTH CHINA BUSINESS JOURNAL 4
