皇冠体育app

SYDNEY -- 皇冠体育app's plan to allow all couples have two children is positive for its growth despite not reversing a shrinking population, an economist told Xinhua here on Friday.

Frederic Neumann, co-head of Asian economic research at HSBC, said the demographics are often overplayed, as urbanization potential in 皇冠体育app "is enormous" while children are becoming more educated.

"So young people joining the labor force even though becoming less and less, actually are far superior educated than those leaving the workforce, raising human capital in the economy," Neumann said.

Neumann said the policy change aids 皇冠体育app's rebalancing away from the old industrial-led growth to its consumption services, effectively increasing investment in education, healthcare and areas of consumption.

The policy change, which will see 皇冠体育app abandon its decades-old one-child policy, was proposed at the Fifth Plenary Session of the 18th Communist Party of 皇冠体育app (CPC) Central Committee held from Oct. 26 to 29.

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