Once the world’s most populous country, China was overtaken by India in 2023, with Beijing seeking to boost falling birth rates through subsidies and pro-fertility propaganda.

And by the end of the year, the population stood at 1.408 billion, Beijing’s National Bureau of Statistics said – down from 1.410 billion in 2023.

But the decline was less sharp than the previous year, when it was more than double the fall reported for 2022, data showed.

China ended its strict “one-child policy”, imposed in the 1980s over overpopulation fears, in 2016 and started letting couples have three children in 2021.

But that has failed to reverse the demographic decline for a country that has long relied on its vast workforce as a driver of economic growth.

Many say falling birth rates are due to the soaring cost of living, as well as the growing number of women going into the workforce and seeking higher education.

People over 60 are expected to make up nearly a third of China’s population by 2035, according to the Economist Intelligence Unit, a research group.

And data released Friday showed that the population aged 60 and over reached 310.31 million – just a few percentage points short of a quarter of the country and an increase from the nearly 297 million recorded in 2023.

But the data also showed China’s birth rate – among the lowest in the world – ticked up slightly from the previous year to 6.77 per 1,000 people.

In September, officials said they would gradually raise the statutory retirement age, which was set at 60 and among the lowest in the world. It had not been raised for decades.

The rules took effect from Jan 1.

China’s previous retirement age was set at a time of widespread scarcity and impoverishment, well before market reforms brought comparative wealth and rapid improvements in nutrition, health and living conditions.

But in recent years, the world’s second-largest economy has had to contend with slowing growth, while a fast-greying population and a baby bust have piled pressure onto its pension and public health systems.