For the first time in five decades, China’s population is set to decline, according to a report. The Financial Times reported on Tuesday, citing a source involved in the country’s census. News Reuters.
The report said the data was based on the latest census. In China, the population is counted once every decade.
The census, conducted late last year, has not yet been released by The National Bureau of Statistics (NBS). The company declined to comment to Reuters.
The Financial Times quoted a source as saying that the population figures were “very sensitive” and would not be released until government departments agreed.
Although NBS did not provide an explanation for the delay in announcing the population data, it was informed earlier this month that more preparatory work would have to be done.
“If China guarantees such a reduction, it will be a big deal,” said Zhiwei Zhang, chief economist at Shenzhen-based Pinpoint Asset Management.
According to the report, according to the United Nations, China’s population is expected to be the highest by 2027. It could be much earlier than market and policymakers expected.
But in recent months, Chinese state media have been saying that the population may decline in the next few years.