The cost of raising a child in China stands at nearly seven times its per capita GDP, far more than in the United States and Japan, highlighting the challenges facing Chinese policymakers as they try to tackle rapidly declining birth rates, new research has shown.

Experts warn China's aging population will put huge pressure on its health and social security system, while a dwindling workforce could also severely limit growth for the world's second largest economy in the coming decades.

Although new policies allow families to have as many as three children, China's birth rate dropped to 7.52 births per 1,000 people in 2021, the lowest since the National Bureau of Statistics began recording the data in 1949.