China To Introduce ‘Marriage And Birth Consumer Loans’ To Counter Shrinking Population

China has the largest population in the world. In 2020, 17.95% people of the population were between 0-15 years, 63.35% between 16-59 years, 18.7% 60 and above, rest are above 65 years. China’s census data showed the slowest rate of population growth since the 1950s. Northeast China, Jilin is going to offer province to married couples loans of up to 2,00,000 yuan i.e. Rs. 23.5 lakh as “marriage and birth consumer loans”. These loans might include discounted rate of interest which depends on the number of children. 

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Province:

The Northeast part of China like Jilin, Liaoning, and Heilongjiang are the parts of China that dropped population 10.3% in 2020 compared to 2010. The province has asked banks to provide “marriage and birth consumer loans” to people. So that people will get married and start a family.

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Reasons for need to increase population:

China is under the communist party. In 1980, China implemented One- Child policy, where people are allowed to have only one child and restricted to having another till 2015.

 In 2015, when the proportion is starting dropping the communist party implemented Two-Child policy, and still failed to manage the youth proportion. 

In 2021, they introduced Three-Child policy.

According to China’s census data of 2021, declined childbirth rate contentiously 4th time. 

The number of people above 60 years has increased 5.44% which is 18.7% of the total population. 

It is said that by 2025, India will become the World's largest population by beating China.