China will allow tax deductions for expenses on children under three as part of a major relaxation in child-bearing policy to stem a dramatic decline in births in the world’s most populous country, an official document showed on Tuesday, reported Reuters.
Beijing announced on May 31 that it would permit married couples to have up to three children, rather than just two.
China had a fertility rate of just 1.3 children per woman in 2020, recent data showed, on a par with ageing societies like Japan and Italy and far short of the roughly 2.1 needed for replacement level.
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