Less than .9

How low can fertility rates fall? This is from The China Post in Taiwan reporting that many married couples abort their first pregnancy for financial reasons:

Statistics compiled by the Ministry of the Interior (MOI) showed that Taiwan's total fertility rate stood at a low of 0.895 in 2010, far lower than the level of 2.1 needed to maintain a stable population structure. This constituted a warning signal for the island's declining population.

The experiences of Taiwan and Japan suggest that China, having reduced its fertility rate, will not be able to increase it even when it abandons its one-child policy.