About 6.8 million couples registered marriages in China last year, down 11% from 2021 and the lowest number since 1985, when available government data begins. The data shows the number of unions peaked in 2013 and has since rapidly declined. In 2021, the number of people aged 20-34 fell below 300 million for the first time since the mid-1980s, and there were more than 10 million more men than women in that age cohort, according to data from the United Nations. That gender imbalance could make it even harder to get married, especially as same-sex marriage isn’t legal in China. The average age of a first marriage in 2020 was almost 29, up almost four years from 2010, local media Yicai reported over the weekend, citing national census data.
- Date Posted:
- June 12, 2023
Put another way, the increase in nominal pretax business income since 2019Q4 is equivalent to just 17% of the increase in consumer spending excluding imputed rent since the eve of the pandemic. For perspective, the total amount of nominal pretax business income generated in the U.S. in any given quarter has historically been worth about 21% of PCE ex-imputed rents, which means that the growth in profits has been a little low relative to what one might have naively expected.