China to Offer Childcare Subsidies in Bid to Boost Birth Rate

China's government will offer subsidies to parents to the tune of US$500 (S$640) per child under the age of three per year, Beijing's state media said on July 28, as the world's second most populous nation faces a looming demographic crisis.

- AFP

BEIJING —

The country's population has declined for three consecutive years, with United Nations demography models predicting it could fall from 1.4 billion today to 800 million by 2100.

The nationwide subsidies apply retroactively from Jan 1, Beijing's state broadcaster CCTV said, citing a decision by the ruling Communist Party and the State Council, China's Cabinet.

"This is a major nationwide policy aimed at improving public well-being," CCTV said.