China to offer $500 per child in move to boost birth rate

China will provide parents with 3,600 yuan ($500) per child each year for children under three. This initiative aims to combat the country's declining birth rates, which have fallen significantly since the end of the one-child policy. Birth rates in 2024 are projected at 9.54 million, half the number in 2016.

Many provinces are also offering childcare incentives. However, analysts believe that the subsidies alone won't be sufficient to reverse the population decline or stimulate spending. Zhiwei Zhang stated that the government recognizes the challenge of low fertility. While some couples may consider having another child, financial pressures remain a concern for many.