China’s population growth slowed, with the nation becoming older and more urbanized, reshaping the economy’s demographic landscape.

There were 1.412 billion people in China last year, the National Bureau of Statistics in Beijing said in its once-a-decade census report. In 2017, the government forecast a population of 1.42 billion by 2020, peaking at 1.45 billion in 2030. The annual average growth of 0.53 percent in the past decade was the slowest since 1953.

China’s population growth has been slowing for decades as a combination of rising incomes and a restrictive one-child policy reduced births in the world’s most populous nation. The possibility of a declining population in coming years - the first time since the early 1960s - would mark a key milestone for the country and have broad implications for economic growth prospects and government finances. (Bloomberg)