China's population declines for third year, raising workforce concerns

China's population decreased for the third consecutive year, reaching 1.408 billion at the end of 2024, a drop of 1.39 million from 2023. This decline highlights ongoing demographic challenges, including an aging population and a shrinking workforce. The country faces a declining birthrate, with many young people delaying marriage and children due to rising living costs. The sex ratio remains imbalanced, with 104.34 men for every 100 women, contributing to potential social issues. Despite government incentives to encourage larger families, such as cash payouts and housing assistance, these measures have had limited success. Urbanization continues, with 10 million more people moving to cities, raising the urbanization rate to 67%.