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Fewer 'I dos' ruin the party for China's $500 billion wedding industry

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COVID wasn't kind to wedding planners in China, where marriages are traditionally elaborate, expensive affairs, but the industry estimated at almost $500 billion is now facing a bigger threat: a plunge in the number of couples willing to tie the knot. 'The number of marriages is falling and few are willing to spend a lot on weddings,' said Yuan Jialiang, who ran a full-scale wedding planning business for almost a decade in Shanghai before switching to focus on wedding photography before the pandemic. There were 6.8 million marriages across China last year, 800,000 fewer than in 2021 and the lowest since the government began publishing the data in 1986.

FILE PHOTO: Vendor prepares wedding dresses at a show room during the China International Wedding Expo in ShanghaiSHANGHAI/HONG KONG - COVID wasn't kind to wedding planners in China, where marriages are traditionally elaborate, expensive affairs, but the industry estimated at almost $500 billion is now facing a bigger threat: a plunge in the number of couples willing to tie the knot.

This drop in marriage registrations will exacerbate the decline in births in China, now one of the world's fastest-ageing societies. Many cities deny unmarried mothers child-raising or healthcare subsidies and having children out of wedlock is often frowned upon. Many weddings planned for 2022 were postponed by COVID-19 lockdowns, resulting in a busier 2023 for some firms.

 

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