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China will allow all couples to have a third child in a bid to arrest the shrinking birthrate and aging population that are risks to the country’s long-term economic prospects, Bloomberg reports.

“Allowing every couple to have three children and implementing related support policies will help improve the population’s structure,” the Xinhua News Agency reported, citing a Politburo meeting held Monday. It wasn’t clear when the move would take effect, although the meeting was to discuss major policy measures to be implemented in the five-year period which started this year, according to Xinhua.

China has been gradually reforming its stringent birth policy that limited most families for many years to only having a single child, with a second child allowed since 2016. However, that did little to reverse the declining birthrate and further relaxation of the limits is unlikely to lead to a sustained increase.

The country currently has over 1.4 billion people.