China’s national legislature on Friday formally endorsed the 3 child policy by the ruling Communist Party, in a major policy shift to prevent decline in birth rates in the world’s most populours country.
The revised Population and Family Planning Law, which allow Chinese couples to have three children, was passed by the Standing Committee of the National People’s Congress .
The country will take supportive measures, including those in finances, taxes, insurance, education, housing and employment, to reduce families’ burdens as well as the cost of raising and educating children, state run China Daily reported.
The report said, The NPC has revised the law to implement the central leadership’s decision with new circumstances in social and economic development and promote balanced longterm population growth.
The ruling Communist Party of China approved a relaxation of its strict two child policy to allow all couples to have up to three children.
The decision to permit the third child came after this month’s once in decade showed that China’s population grew at the slowest pace to 1.412 billion official projections that the decline may begin next year.
The new census figures revealed the demographic crisis China faced was expected to deepen as the population of people above 60 years grew to 264 million, up by 18.7 % last year.
The government to do away with the family planning restrictions grew louder due to the concerns that the declining population in the country could result in serious labour shortages and negatively impact the world’s second-largest economy.
The two-child policy failed to couples to have a second child as fewer opted for the second child, citing heavy expenditure in raising the children.
The poor response made Liang Jianzhang, professor at Peking University’s School of Economics, to suggest the government offer parents one million yuan for each newborn child to shore up the country’s declining birth rate.
UN report stated , India had an estimated population of 1.37 billion and China 1.43 billion and by 2027 India’s population is projected to surpass China’s
China is also facing the risk of falling into the trap of low fertility, as it recorded 12 million births in 2020, marking a drop for the fourth consecutive year.
It said the country should not interfere with people’s ability to have children or it will be too late to reverse the economic impact of a declining population.