China's Blueprint: Building a Childbirth-Friendly Society & Silver Economy

China plans to foster a childbirth-friendly society over five years, enhancing population services, healthcare, and education. As the population shrinks and ages, policies aim to boost birth rates and support the elderly. New subsidies and medical reimbursements are part of Beijing's strategy to stabilize demographics.

In a bid to address demographic challenges, China on Thursday announced its plan to create a 'childbirth-friendly society' over the next five years. The government aims to enhance employment, healthcare, and education services, promising full medical cost coverage for pregnant women by 2026.

China's population decline, marking a fourth consecutive year by 2025, has prompted policymakers to incorporate population planning into economic strategies. A national child subsidy introduced last year forms part of this effort, with budget estimates reaching 180 billion yuan ($25.8 billion) for birth rate incentives, according to Reuters.

Simultaneously, China plans to promote high-quality development of the 'silver economy,' adapting to an ageing population. Strategies include enhancing elder care services, particularly in rural areas and refining pension policies. The number of Chinese citizens over 60 is projected to reach 400 million by 2035.

(With inputs from agencies.)