Difficulty: Summiteer (Level 3)
Earlier this month, two official government reports said China would improve its policies supporting childbirth, as well as its growing elderly population.
These plans are important because in 2023, China’s population fell for the second year in a row. The birth rate has dropped to half of the rate it was in 2016. If these trends continue, there will not be enough young workers to support so many elderly people.
The country hopes to boost birth rates by changing maternity and paternity leave policies as well as increasing childcare services. Officials have also pushed housing subsidies and financial and tax incentives for couples having children. Still, some studies say China is one of the most expensive places to raise children, relative to how much money people earn.
To assist the elderly, China is increasing the amount given in its basic pensions. A private pension system will be created to give people more options. Elderly healthcare services will also be strengthened.
