To avert demographic crisis, Chinese govt brings new policy for couples

Quick Summary:

A directive issued by the State Council or the central cabinet on Monday outlined 13 targeted measures designed to enhance childbirth support services; expand childcare systems; strengthen support in education, housing and employment, and cultivate a birth-friendly social atmosphere.

China has announced a slew of policies, including a childbirth subsidy system and tax cuts for parents, aimed at motivating couples to have more children to halt the falling birth-rates in order to deal with the looming demographic crisis.

The latest initiative also includes improvements to the childbirth subsidy system and personal income tax relief related to childbirth, official media reported.

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Category: BusinessFinance

Markets: IndiaChinaHong KongJapan

Topics: China ageing population China population Declining birth rate Demographic crisis

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-29 @ 18:45:11 (3 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 561 words

Reading Time: 4 minutes read

Sentences: 21 lines

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Copyright Owner: © Business Standard

News ID: 23327391

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