China Offers Financial Incentives to Boost Birth Rates

China has introduced a nationwide financial incentive, offering parents 3,600 yuan (£375; $500) annually for each child under three years old. This initiative, totaling up to 10,800 yuan per child, aims to address the country's declining birth rate, which has persisted even after the relaxation of the one-child policy. The subsidy, effective retroactively from the start of the year, is expected to assist approximately 20 million families and follows similar pilot programs implemented by various provinces. This policy is a direct response to concerns about a potential demographic crisis in the world's second-largest economy.