The average cost of raising a child from birth to college graduation in China is approximately 680,000 yuan ($94,557), and the cost of childbearing now ranks among the highest in the world, according to a new report published by a Chinese think tank on Wednesday.
The report was published by Yuwa Population Research, a Chinese think tank led by renowned demographer Liang Jianzhang, one of the co-founders of Ctrip. It discusses the economic costs of raising children in China and the key factors by analyzing the latest national statistics released in 2023.
It pointed out that the average cost of raising a child from birth to the age of 17 in China is about 538,000 yuan, and to the age of college graduation, it is 680,000 yuan. This figure is significantly higher than the estimate in the last report published two years ago, reflecting the increasing economic burden of raising children as a result of socio-economic development and rising living costs.
An international comparison of child-rearing costs between China and other countries reveals that Chinese families spend 6.3 times their per capita GDP to raise a child until they reach the age of 18, one of the highest levels in the world. This figure is also higher than that of developed countries such as Australia, France, and Sweden, according to the report.
Shanghai and Beijing have the highest cost for child raising, standing at 1.01 million and 936,000 yuan, respectively. However, compared with the 2022 version of the report, both showed a downward trend, down 16,000 yuan and 33,000 yuan respectively.
The report also showed that in addition to financial costs, there are two key factors influencing the willingness to have children, namely time cost and opportunity cost. Time cost includes maternity leave, child care, school pick-up, helping children with homework, and increased household chores, while opportunity costs include the decline in work skills due to long leave from work for childbirth, weakened competitiveness upon return, being transferred or receiving a pay cut, and losing out on promotion opportunities, among others.
