The Asian financial hub of Hong Kong has a big problem: Families are having fewer children, if at all. Schools are closing due to a lack of students. And the city is still recovering from a years-long exodus of residents unhappy with political uncertainty and its former COVID controls.
Now, the government is offering a one-off bonus of HKD20,000 ($2556) to new parents in a bid to reverse falling birth rates. The city's chief executive, John Lee, announced the latest incentives in his annual policy address on Wednesday. The bonus will be available for three years.
