On December 17, Cai Fang, Vice-President of the Chinese Academy of Social Sciences, predicted at a forum that "China's total population will probably peak in 2025 and then decline." Cai Fang pointed out that China's population faces two turning points. One is that the working-age population has passed its peak and is now growing at a negative rate. The shortage of labor has slowed the improvement of human capital, reduced the rate of return on capital and significantly slowed down the improvement of the rate of productivity. Second, he predicted that China's total population may peak in 2025 and then decline. Cai Fang said the negative growth of population will bring both a supply-side shock and a demand-side shock, in addition, external demand is falling, all these could lead to insufficient consumer demand. As for the future trend of China's economy, Cai Fang believes that in the past few years, the structure of the "troika" has changed, the contribution of external demand has become less and less, and domestic demand has become the main driving factor of the national economy, and the development pattern of "domestic demand is the mainstay and domestic circulation is the mainstay" has objectively formed. Cai Fang said there were three ways in which China's comparative advantage could be extended to boost demand. First, expand external demand and take advantage of manufacturing and value chains to be firmly embedded in the global division of labor. Second, implement balanced development among different regions. Third, , intensify the reform of income distribution system during the "14th Five-Year Plan" period and increase the intensity of redistribution. "The driving force of China's economic growth in the future will mainly depend on consumption demand, and consuption demand will mainly depend on the increasing residents' income. A better income distribution can increase the overall consumption demand.