China, like many other countries, is worried about its birth rate—and it’s offering would-be parents a financial incentive to have children.
The country’s government on Monday rolled out a new subsidy program, which will offer parents 3,600 yuan (about $500) per year for each child up until they reach the age of 3. Subsidies will start from this year, with partial subsidies for children under 3 born prior to 2025.
