BEIJING: China's government has announced tax breaks for couples who have more children as the birth rate begins to fall sharply. China, the world's most populous country, introduced a one-child rule a few years ago to control population. Meanwhile, the birth rate in the country was decreasing year by year. Subsequently, the one child rule was canceled in 2016. Couples were allowed to have 3 children. However, the birth rate has continued to decline over the last 5 years.
High cost of living, cultural change, and interest in small families are the main reasons for the declining birth rate. Abortions were also on the rise due to the same reasons. Shocked by this, the Chinese government has taken various measures to increase the birth rate. Accordingly, the government has announced various incentives for couples who have more children. It has announced benefits including subsidy, tax exemption, better health insurance, education, home loan, employment opportunities. China hopes that this will increase the population.