After decades of the "one-child policy," China is considering paying parents to have a second kid.
Wang Peian, vice-minister of the National Health and Family Planning Commission, said parents could be eligible for "birth rewards and subsidies" for having second kids, according to the state-run newspaper China Daily.
The proposed policy shift is an attempt to reach new, higher birth rate goals as China's population ages. The one-child policy was law from 1979 through October 2015.
The financial incentives would require more effort ... to cover the cost of raising a child, which is more important than giving birth.
While birth rates have risen since repealing the policy, a NHFPC survey found 60 percent of families were reluctant to have a second kid because of financial difficulties, Sociology professor Lu Jiehua noted China may not be able to afford to help parents raise a child.
By the numbers
- China's birth rate peaked at almost six births per woman in the 1960s. After the one-child policy, it fell to 1.5 per woman.
- China has 114 million people over the age of 65. The U.S. has 46.2 million, according to the Department of Health and Human Services.
- China might have the oldest population in the world by 2030, with 400 million people over 60, according to government reports.
But even now, the impact of the two-child policy, instituted in 2016, may not be felt until the new babies are old enough to work. Women that are old enough to have kids still remember the one-child policy, and may not want to change their mindset on having kids, Lu told CNN.
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