China's Strategy to Tackle Aging Population and Boost Childcare

China plans to counter its aging population with policies offering childcare subsidies and free preschool education. Announcements were made during the National People's Congress meeting, as China's population decline continues and ages rapidly. New measures include adjusting retirement ages and improving elderly care services, particularly in rural regions.

China has announced new strategies to address its rapidly aging population and declining birth rates, unveiling initiatives during the National People's Congress meeting. Key measures include childcare subsidies, free preschool education, and increased retirement benefits for seniors, as the country grapples to balance its demographic challenges.

The government aims to provide additional support to rural and migrant families. Authorities plan to offer more comprehensive services to pregnant women and enhance childcare especially for rural children. These plans are part of China's effort to reverse a significant decline in population and encourage childbearing through financial and social incentives.

Amid these demographic shifts, China is adjusting retirement ages, aiming to gradually increase the statutory age for retirement. This comes as the country faces a rapidly growing number of seniors, expected to soar to over 400 million by 2035. The government promises to boost basic pensions and develop 'public interest' elderly care services in response to these trends.

(With inputs from agencies.)