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Parents in China are now eligible to receive an annual subsidy of 3,600 yuan (approximately TSh375,000) for each child under the age of three, marking the first time the government has introduced a nationwide policy aimed at raising the country’s declining birth rate.
Reports indicate that birth rates in China have continued to drop despite the Communist government abolishing its controversial one-child policy nearly a decade ago.
According to state media, the new subsidy is expected to assist around 20 million families in managing the cost of child-rearing.
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Several regions across China have previously tested different types of financial incentives to encourage families to have more children, as the world’s second-largest economy grapples with the long-term implications of a shrinking population.
The newly announced plan, unveiled on Monday, will provide parents with up to 10,800 yuan per child. China Central Television (CCTV) reported that implementation of the program is set to begin early this year.
Additionally, families with children born between 2022 and 2024 will be eligible to apply for the subsidy. This initiative is part of broader and ongoing efforts by local governments to increase the national fertility rate.
