The number of new marriages recorded in China fell to a record low last year, despite sweeping government efforts to encourage young people to tie the knot and have babies to halt demographic decline in the world’s second-largest economy.

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Marriages in China plunged by a fifth to the lowest level on record last year,

China's marriage rate hit a record low in 2024, continuing a troubling trend despite the government's efforts to encourage young people to marry and have children, CNN reported.According to the Ministry of Civil Affairs,

Travel and spending during China’s Lunar New Year holiday hit new records this year, giving the government an encouraging boost as it seeks to ramp up the ailing economy.

Inflation picked up in China last month, official figures showed Sunday, as the Lunar New Year holiday boosted January spending. The boost in prices last month is "mainly due to higher food prices and tourism-related services prices on an earlier-than-usual Lunar New Year holiday,