Families in China are for the first time supporting more elderly people than children, the country's government has said.

Official data released in the last week , external show the ratio of China's dependent elderly people compared to the working age population rose to 23% last year, overtaking the figure for children, which stood at 22%.

The numbers are closely watched for signs of how China's shrinking workforce will impact both the world's second largest economy and global growth as a whole.

The latest figures mark a significant milestone as China grapples with an ageing population that could have implications for families, pensions and healthcare spending, analysts say.

China has been preparing for a growing proportion of elderly people in recent years, while urging younger generations to get married and for couples to have more children .

The latest data from China's National Bureau of Statistics show there are now more than 223 million people in China aged 65 and above, accounting for nearly 16%…