SHANGHAI -- China's population shrank fell last year for the first time since 1960, jeopardizing President Xi Jinping's ambition to overtake the U.S. as the world's biggest economy.

Data released on Tuesday by the National Bureau of Statistics showed China's population stood at 1.41175 billion in 2022. The birthrate was the lowest on record, and the death rate the highest since 1976. The natural population growth rate fell by 0.6 per thousand, a slide from 2021's 0.34.