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China's population prospects over the decades ahead are largely shaped by prolonged sub-replacement childbearing, likely to have been in effect for half a century by 2040. China's population is on track to peak in the coming decade and to decline at an accelerating pace thereafter. Between 2015 and 2040, China's population aged 50 and older is on course to increase by roughly one-quarter of a billion people; the under-50 population is set to decline by a roughly comparable magnitude. China is set to experience an extraordinarily rapid surge of population aging, with especially explosive population growth for the 65-plus group, even as its working-age population (conventionally defined as the age 15-64 group) progressively shrinks. Additionally, a number of demographic changes underway now constitute “wild cards” for China's future: including (1) the impending “marriage squeeze” due to abnormal sex ratios at birth from the one-child policy era; (2) the problem of mass urbanisation under a system that consigns migrants in urban areas to an officially inferior status; and (3) the revolutionary changes in the Chinese family structure, which portend a dramatic departure from previous arrangements on which Chinese society and economy depended.