Parents in China are offered around $ 500 ( £44 000) Year for each of your children under three years of age.
This initiative, which was announced on Monday, is part of the first nationwide government subsidy, which is introduced to reduce the financial burden of raising children and support further birth in the second largest economy in the world.
Why is this initiative important?
Despite the scrap of the controversial policy of one child almost ten years ago, Chinese birth rate continued to decrease, the BBC reported.
The government hopes that these new leaflets, which are expected to help approximately 20 million families with the cost of raising children, will reverse the trend of declining birth rates.
Before this national introduction, several provinces have been piloting some form of paycheck throughout China to encourage people to have more children, because the country is facing an imminent demographic crisis.
Benefits within the system
This system has promised to offer parents up to $ 1500 (10,800 yuan) to the child, and the benefits have been ongoing retroactively since the beginning of this year, according to the BBC report.
This provision is also open to families with children born between 2022 and 2024; However, they receive partial subsidies.
This step follows the efforts of local governments to increase birth rates in China.
In March, Hohhot – a city in the northern region of China began to offer up to 100,000 yuan per child for couples with at least three children.
Shenyang, a town northeast of Beijing, offers local families with a third child under three years of 500 yuan.
Last week Beijing also called on local governments to propose plans for implementing free pre -school education.
High cost of raising children
The need for these incentives underlines the high cost of raising children in China, according to a study by the Chinese Institute for Population Research in Yuwa, China.
The study found that an increase in a child under the age of 17 in China costs an average of $ 75,700, which makes it one of the most expensive places where children have in relation to income.
In January, official data showed that the Chinese population dropped the third consecutive year in 2024, despite a slight increase in birth, which, according to the National Office, was recorded by around 9.54 million children born in 2024.
1.4 billion of the country’s population is also aging and increases demographic concerns in Beijing, the press agency reported.
(Tagstotranslate) The birth rate in China
