China may cover much of the cost of childcare, from birth to college graduation, to help reverse a decline in the birthrate.
In advance of the National People’s Congress, the rubberstamp legislature that convenes on Friday in Beijing, an influential policy advisory body has suggested that wide-ranging financial support be offered to families to address the falling birthrate in the world’s most populous country, including providing income tax cuts for new parents.
“In recent years the birthrates have plummeted, and the subsequent social and economic problems have become more severe by the day,” the China Democratic League said. It is proposing a series of subsidies to help with childcare costs and even payments to grandparents so they are rewarded for helping young parents to look after their offspring.
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China may cover much of the cost of childcare, from birth to college graduation, to help reverse a decline in the birthrate https://t.co/NVg4YFooLz
— The Times (@thetimes) May 19, 2020