China has announced that it will start handing out childcare subsidies across the nation, in its latest push to boost birth rates after a worrying drop in recent years.
The government will spend 3,600 yuan ($502) a year per child under age three, according to the official Xinhua News Agency. The assistance, effective retrospectively from Jan. 1 this year and available regardless of the first, second or third child, is meant as an incentive for young couples wary of rising costs of child-rearing.
The policy is expected to benefit more than 20 million families each year, Xinuha reported. China has previously offered tax breaks and has been working to offer more affordable daycare services, it said.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.