China’s slowing economy puts the brakes on marriage

Victor Li is determined to get married soon, though like many other young Chinese grappling with an uncertain economic outlook, the well-heeled Shanghai entrepreneur is not sure he can afford to.

“It’s very expensive for us to get married, especially in a big city like Shanghai,” the 32-yearold said, as he took a break from a ticketed networking event at an upmarket Shanghai jazz bar for wealthier, top-universityeducated singles.

“In terms of financial ability, it actually puts a lot of pressure on young people, including me.”

As the world’s secondbiggest economy slows, an increasing number of people are opting to remain single due to poor job prospects as a result of record youth unemployment and chronically low consumer confidence. That has led to a record slump in marriage registrations in 2022.

The reluctance to tie the knot is worrying policymakers grappling with a decline in births and a rapidly ageing population in a country that was once the most populous, and where marriage rates are closely tied to birth rates because unmarried mothers are often denied childraising benefits.

China’s fertility rate is one of the lowest at present, and official data on Wednesday is expected to show the population fell for a second consecutive year, renewing concerns about the demographic decline.

Last year, President Xi Jinping said it was necessary to “actively cultivate a new culture of marriage and child-rearing” to foster national development. Local governments have also announced various measures to encourage new families, including tax deductions and housing subsidies, as well as cash “rewards” for marriages if the bride is 25 years old or younger.

Julia Meng, whose company, Julia’s Events, organised the Shanghai singles event, said an increasing number of people 35 years and older have effectively “given up” on marriage.

Younger Chinese, such as attendee at the singles event Jack Jiang, say they want to get married, but high housing prices, uncertain job prospects and the general economic situation are not helping.

“It’s not that we want to be single, it’s the urban structure, economic situation that have led to this result,” the 32-year-old entrepreneur said.