What’s new: Southern metropolis Shenzhen is planning to roll out newborn subsidies — which would be up to 37,500 yuan ($5,550) for a three-child family — in a move to boost the local fertility rate.
The proposed subsidies, currently soliciting public opinion, are among the latest attempts by China’s local authorities to boost low birthrates in the face of falling marriage rates and an aging population that is shrinking the country’s labor force. These demographic challenges could have a far-reaching impact on the economy and society.
