China has revised its law to implement the three-child policy and other relevant supportive measures. The National People’s Congress voted and passed the decision on the revision of the Population and Family Planning Law on 20 August.
Earlier this year in May, China announced that couples will be allowed to have up to three children. The policy has now been formally endorsed by China’s national legislature, with supportive measures in finance, taxation, insurance, and education. This in turn will help families to reduce the economic burden of raising a child, along with the high living costs associated with higher-tier cities.
Previous examples of supportive measures include the government’s crackdown on private tutoring to reduce education costs and monthly subsidies per infant for families living in Panzhihua, Sichuan province.
This decision came as the nation faces an increasingly aging population and a decline in childbirth in recent years.