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

Beijing, the capital of China, is projected to become a "super-aged" city by 2035, according to the official Beijing Daily. By that time, approximately one-third of its population will be aged 60 and above, with around five million residents falling into this category, which represents nearly one-quarter of the city's population. The Beijing Daily reported on Saturday that Beijing currently has 5.29 million permanent residents aged 60 or older, up from previous years.

The Chinese government has recognized the importance of addressing the aging population and has made population planning a crucial aspect of the nation's economic strategy. This year, the government is facing an estimated total cost of 180 billion yuan ($26.92 billion) in order to encourage higher birth rates, as estimated by Reuters.

In response to the growing elderly population, Beijing's government is taking steps to provide greater support for its senior citizens. This includes raising the basic pension, as reported by the Beijing Daily. The rapid aging of China's population, which has been shrinking since 2022, poses a significant challenge for the government's plans to boost domestic consumption and manage its debt burden.

With hundreds of millions of people set to leave the workforce while pension budgets are already strained, demographers and economists argue that a lower birth rate today could result in fewer households and slower consumption growth in the long run.