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Facing a demographic crisis, China is implementing a nationwide subsidy to boost birth rates. Parents will receive up to 10,800 yuan ($1,500) per child under three, retroactive to 2023. This follows regional initiatives offering even larger sums. The move aims to counter falling birth rates and an aging population, despite the high cost of raising children in China. The subsidy is intended to help approximately 20 million families.

Prepared by Christopher Adams and reviewed by editorial team.