On February 22, the “Yuwa Population Research” established by several academic experts released the “Report on the Cost of Childbirth in China”. This report, which is based on the “China Statistical Yearbook 2020”, shows that the average cost of raising a child in a Chinese family to the age of 18 is as high as 485,000 yuan (76.6 thousand dollars), which is 6.9 times the per capita GDP, second only to South Korea in the world.
The parenting cost is much higher than that of developed countries in the world, such as Australia, France, the United States, and Japan, and ranks second in the world.
According to Liang Jianzhang 梁建章, Co-founder of Ctrip and Population Economist, in Table 4 of the report, Shanghai ranks first with a parenting cost of 1.026 million yuan (162.5 thousand dollars), Beijing ranks second with a parenting cost of about 969,000 yuan (153.5 thousand dollars), and Shandong ranks 13th with a parenting cost of about 460,000 yuan (72.8 thousand dollars)
Among the national average parenting costs for children aged 0-17, the parenting costs for children aged 6-14 account for the largest proportion of the total parenting costs, accounting for 44.65%, or about 220.000 yuan (about 34.8 thousand dollars)
The parenting cost for children from 0 to 17 years old varies among social classes.
Low-income families, averagely spend 116.452 yuan (18.4 thousand dollars), whereas middle class households’ expenditure for this section is 395.000 yuan (62.5 thousand dollars). High-income class families spend 1.208.193 yuan (191.2 thousand dollars) on their children.
This cost includes educational, non-educational and non-consumption expenditures.