Childcare subsidy to benefit tens of millions of Chinese families: official

BEIJING, July 30 (Xinhua) -- China's childcare subsidy, set at a standard of 3,600 yuan (about 503 U.S. dollars) per year for each child under the age of three, will directly increase family incomes and benefit tens of millions of households each year, said an official from the National Health Commission (NHC).

Guo Yanhong, deputy head of the NHC, said the childcare subsidy is aimed at easing the financial burden of raising children for families. As a targeted economic policy supporting childbirth, the subsidy will be distributed through fiscal funding.

Guo noted that the subsidy helps foster a more birth-friendly social environment, and that the childcare subsidy works in tandem with related policies regarding childcare, education, employment, taxation and housing.

The subsidy standard was set based on factors such as childcare costs and fiscal capacity, while also drawing on international practices. According to Guo, direct financial support is a common policy tool to encourage childbirth globally. In China, some local governments have piloted similar programs, which have been well-received by the public. Enditem