China invests in nationwide childcare subsidies, turning the tide on population decline

China's marriage and birth rates have been declining for over three years. The Chinese government is boosting childbirth by announcing a cash subsidy of 3 yuan per year, hoping to reduce the cost burden and reverse the rapid population decline crisis.

Kasikorn Research Center (KResearch) reported on the demographic situation in China, stating that the birth and marriage rates in China have been declining continuously for several years. By 2024, the number of married couples is projected to fall to only 6.1 million, almost half the number of 13.47 million couples in 2013. Meanwhile, the Chinese population has been declining for the third consecutive year.

To address the crisis of a declining population and a rapidly aging population, the Chinese government has announced a major measure to support childbearing, launching the first nationwide Childcare subsidies. For every child under three years old, families will receive an annual subsidy of 3 yuan (about 3,600 baht) per child, and this subsidy applies to the first, second and third children. The policy will cover both urban and rural areas.

The measure is primarily aimed at reducing the burden of childcare costs on households and encouraging young couples to have more children, especially second and third children. However, experts are still watching closely to see if this policy will be enough to reverse the alarming population decline.

However, in the future, China is expected to introduce additional measures to support the birth rate, such as reducing child-rearing costs.

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