Experts warn China's dropping birth rate could hurt the nation's economy. Other Asian countries face similar challenges, and can give China some insight into changing demographics. ZHENG CHUNGYING has the story.

For many couples in China eager to expand their family, the first day of 2016 was unforgettable. Beijing ended its one-child policy and allowed couples to have a maximum of two children, in the hopes of strengthening the workforce of a nation with 240 million elderly people.

WANG PEIAN, DEPUTY DIRECTOR THE STATE FAMILY PLANNING COMMISSION "The two-child policy targets 90 million people. 30 million births are expected by 2050 after the policy is implemented. The workforce is expected to increase by more than 30 million people."

However, people's passion to have babies isn't what it used to be. According to the National Bureau of Statistics, China's birth rate was sluggish in 2017. There were about 17.2 million births last year, down from about 17.9 million in 2016, The birth rate dropped from around 12.9 percent to about 12.4 percent. And the number of couples starting families fell. Many young Chinese say they are reluctant to have babies.

"It costs too much to raise a child, we can't afford that. Babies also cost effort and time. As far as I know, it costs nearly one million yuan to raise a child."

If more families continue to decide not to have children, it could depress China's economy and fray the nation's safety net.

Japan has been grappling with the issue as well. The number of Japanese children born this year was the lowest since records began in 1899. Experts warn that China's declining birth rate might be more rapid than Japan's. The trend could result in a demographic disaster. Increasing China's birth rate remains a huge challenge. ZHENG CHUNYING, CGTN.