RE: It is aging rapidly and has extremely low birth rates.
From a one child per family policy, China has now adopted a two child per family policy. Will this help?
IMHO, Like all central planners and social-engineers, its a failed political move that was much too late. Again, like Japan, for over 30 years they have created a generation that has no brothers and sisters, was raised in economic prosperity, and with massive debt. Beyond the social factors of people preferring luxury, being trapped in entertainment and on-line, and young women preferring to have careers, Housing in major cities is a HUGE expense, as is education. Most young people feel they can't afford to have children.