A qualification test of pet groomers is held at the headquarters of Favor Pets, a chain brand offering pet services, in Beijing, capital of China, April 15, 2024. (Xinhua)

　　BEIJING, Feb. 15 (Xinhua) -- A Goldman Sachs report said that for the first time in 2024, the number of pets in China had surpassed the number of children under the age of four. It further projects that by 2030, the former will nearly double the latter in number.

　　As a reference, China was home to 73.4 million infants and toddlers under four years old in 2021; a number that has dwindled in recent years due to birth rate declines.

　　When compared with the 2025 China Pet Industry White Paper, however, Goldman Sachs' calculation was quite conservative.

　　The white paper noted that the pet population in China's urban area alone had reached 120 million in 2024, with the urban pet (dog and cat) consumption market exceeding 300 billion yuan (about 41.8 billion U.S. dollars).

　　Latest data released by China's Ministry of Housing and Urban-Rural Development showed that China had an urban population of around 930 million in 2023, which means, on average, one out of every eight urban residents, regardless of age or gender, owns a pet.

　　Along with that, is an explosive pet consumption market in China, the world's second-largest economy.

　　FROM “FRIENDS“ TO “CHILDREN“

　　Previously, people would call their pets “friends“ -- it was all about companionship. But today, the new generation of pet owners treat their pets like their own flesh and blood. It is not just a name change, but a whole new level of love and care.