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Childcare Subsidies Implemented in CN w/ RMB3,600 Per Child Per Yr for Infants <3 Yrs Old
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Recently, the General Office of the Chinese Communist Party and the General Office of the State Council issued the Implementation Plan for the Childcare Subsidy System, and issued a notice requiring all regions and departments to conscientiously implement it in accordance with local conditions. Childcare subsidies are applied for by one of the child's parents or other guardians in accordance with regulations at the child's household registration location. In terms of subsidy recipients, starting from 1 January 2025, subsidies will be provided to infants under the age of three who were born in compliance with relevant laws and regulations, until they reach the age of three. Regarding subsidy standards, childcare subsidies are distributed annually, with the current national baseline standard set at RMB3,600 per child per year. For infants and toddlers born before 1 January 2025, and under the age of three, subsidies are calculated based on the number of months eligible for subsidy. Childcare subsidies distributed in accordance with the childcare subsidy system are exempt from personal income tax. AAStocks Financial News Website: www.aastocks.com |
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