China offers parents $500 a year in bid to boost births
Summary
China is offering parents $500 a year for each child under three to encourage families to have more children. This national subsidy aims to address the country's declining birth rate and is expected to help about 20 million families with child-raising costs.Key Facts
- China will pay parents 3,600 yuan (or $500) annually for each child under three.
- The subsidy targets the declining birth rate in China.
- About 20 million families are expected to benefit from the program.
- The policy takes effect retroactively from the beginning of the year.
- Parents of children born from 2022 to 2024 can also apply for partial subsidies.
- Local initiatives, like in Hohhot, offer different incentives for larger families.
- It costs about $75,700 to raise a child to 17 in China.
- China's population decreased for three straight years up to 2024.
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