China is working hard to control the changing demographics. One of China’s biggest concerns is the declining number of young people in the country. For this, they made a big change in their policy in May. Under this changed policy, couples in China are now being pressured in various ways to give birth to three children. Under this policy, the local government of China has started providing cash as well as other facilities to couples with third children.
Linje County in China’s Gansu Province has opened a state treasury for couples with three children. According to a Bloomberg report, the couple is being paid 5,000 yuan (about Rs 57,000) as soon as their third child is born here.
This information was given by the local government through a post on Chinese social media WeChat. Not only that, when the child turns 3 years old, it is also planned to pay 10,000 yuan (about 1 lakh 14 thousand rupees) in the first year. Local authorities have also promised to provide such families with school fees and housing grants for children.
The economic mathematics of a country is built on population. Population has a direct impact on finance. As a result, economists suggest keeping the population under control. China has been imposing strict rules on population control for years. “The two-child policy allowed for the birth of two children. This rule brought the population of the country under control. But as more than half of the country’s citizens age, China’s concern has grown. Therefore, the Chinese government has decided to relax this rule. In China, couples can now give birth to three children.
Birth rates throughout China have dropped dramatically already in recent years. A report also found that the number of elderly people was increasing. The Chinese government has taken this decision for fear that the aging population will have consequences in the future. The new policy has been approved by Chinese President Xi Jinping. So the two-child policy in China has come to an end.
In China, the population growth rate between 2010 and 2020 was 0.53 percent. Over the past two decades, China’s population has shrunk dramatically. In the year 2020, only 12 million children were born. In 2018, 18 million children were born. However, China is still at the top of the world population list. It is followed by India and the United States. This information is given on the WorldDometer website.