China has ended its decades-long one-child policy (0:06) to allow all couples to
have two children. (0:10) The ruling Communist Party of China made the
announcement on Thursday. (0:15) The one-child policy, officially called the
Family Planning Policy, (0:20) was a population control measure that was
introduced in 1979.
(0:25) Policymakers hoped to restrict the country's surging population (0:29) and
therefore control rates of poverty. (0:33) It wasn't adhered to strictly, and many
exceptions were allowed. (0:38) In 2007, around 36% of China's population was
subject to a strict one-child restriction.
(0:47) An additional 53% was allowed to have a second child if the first child was
a girl. (0:54) The new two-child policy will reverse China's very low fertility rate.
(1:02) The new two-child policy is expected to provide a huge economic boost for
China (1:08) and prevent it from developing into an ageing society.
(1:13) China's labour force reached a peak of 940 million in 2012. (1:19) However,
this decreased to 930 million in 2014 (1:24) and was expected to fall by another 29
million by 2020. (1:30) Predictions from Peking University are that there will be
an average (1:35) of 2.5 million extra newborns per year.
(1:39) This will result in more workers and an additional $11.8 billion in annual
consumption. (1:46) Shares in many international baby goods companies jumped
by over 10% after the news was announced. (1:55) The new policy will affect
around 100 million couples.