Which can stimulate the production of red blood cells? hypoxia?

Hypoxia  or anemia  stimulate  the  production  of  red  blood  cell by  stimulating  the  kidney  to  produce  erthropoietin which   increases  the production  of red  blood  cells. The  erythropoietin  increase  the  rate of  red  blood cells  division  and  differentiation  of  specific  cell  in bone  marrow.

Hypoxia is a health condition in which there is a low oxygen level in the specific tissue. In this case, both the kidney and liver stimulates the production of a glycoprotein hormone called erythropoietin. This function of this hormone is to increases the production of red blood cells in bone marrow.