China Launches Plan to Increase Birthrate
(MENAFN) China has initiated its first countrywide financial aid scheme for childcare, providing families with an annual allowance of 3,600 yuan (around $500) for every child below the age of three.
This initiative, disclosed on Monday, is part of a wider governmental strategy to address the country’s ongoing low fertility rate and its prolonged population decline.
This policy represents the newest step taken by Beijing to deal with its unprecedented demographic challenges.
The Chinese population had been shrinking for seven straight years before showing a slight increase in 2024.
The population drop has resulted from a sharp decrease in birth rates, a rapidly graying population, and rising economic instability.
To combat this, officials have introduced various measures in recent years, such as tax incentives, longer parental leaves, and assistance with child-rearing.
According to the Chinese National Health Commission, the newly launched program will begin operating this year and is projected to support over 20 million households annually.
The yearly stipend will be provided until each child reaches the age of three and will include all children, irrespective of their birth sequence.
Moreover, the payment will be free from income taxation and will not be considered part of the family’s earnings when evaluating their eligibility for other types of social welfare.
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