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China Will Allow Couples To Have Three Children, In Major Policy Shift

China Will Allow Couples To Have Three Children, In Major Policy Shift

China Will Allow Couples To Have Three Children, In Major Policy Shift



TOPLINE China’s ruling Communist Party will allow couples in the country to have three children, state-run Xinhua news agency reported on Monday, a move that comes after decades of stricter birth limits have created a rapidly aging population that is likely to strain the country’s economy.

KEY FACTS
The change was approved during a Communist Party politburo meeting on Monday chaired by Chinese President Xi Jinping as part of policies that will “actively respond to the aging population,” according to Xinhua.

According to the South China Morning Post, the Communist Party said in a statement that the three-child policy will be introduced with unspecified “supporting measures” and this will improve the “population structure” of the country.

The new policy further eases birth limits after the country’s leadership scrapped its decades-old one-child policy in 2015 to allow couples to have two children.

Under the present two-child policy, fines of around $20,000 (¥130,000) were imposed on couples having a third child.

The reports offer no details on when and how the policy change will be carried out.

BIG NUMBER
63%. That’s the share of China’s working-age population (those aged between 15 and 59 years old) according to the country’s most recent census data published earlier this month. This is a drop from a 70.1% share just a decade earlier, while over-65s now make up a bigger percentage of the population, rising from 8.9% to 13.5% during the past decade.

SURPRISING FACT
According to Reuters, Xinhua’s Weibo account published a poll asking #AreYouReady for the three-child policy. Around 29,000 of 31,000 respondents said they would “never think of it,” which led to the poll being removed.

Read More : SLOTWALLET
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