SHANGHAI—A Chinese professor has urged the government to offer parents 1 million yuan ($156,000) for each newborn child in a bid to shore up the country’s declining birth rate, sparking a debate on social media about the soaring costs of raising children.
China’s population rose by its slowest rate in decades from 2010-2020, the country’s latest census showed, raising fears that the country’s dwindling workforce will be unable to support an increasingly elderly population.
Liang Jianzhang, professor at Peking University’s School of Economics and also founder of travel service provider Ctrip, said in a video posted on his Weibo social media channel that it would cost 10 percent of…
Keep on reading: Cash incentive pushed for China baby boom