Experts call for more tax cuts for families with second child in China

2019-01-24 13:56

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The number of newborns in China has dropped to 15.23 million in 2018, marking the lowest number since 1961, according to data recently announced by the National Bureau of Statistics.

Liang Jianzhang, a professor from the Peking University, suggests introduction of fiscal measures to improve birth rate, citing monthly subsidy of 1000 yuan and a tax exemption of 100,000 yuan for every family with a second child as an example.

The problem of aging population in China might be even greater than it was in Japan 30 years ago, according to Liang. 

Besides fiscal subsidy policies, Liang also called for measures like establishing more nurseries and increasing supply of education resources to cope with potential population crisis in the years ahead.
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