A travel agency in China will pay employees $ 1.3 thousand per year for each newborn

China's Largest travel company Trip.com Group was the first among private firms in the country to decide to pay its employees annual allowances of $ 1.3 thousand for each newborn.

The company announced this on its website on Friday.
"Employees who have worked in the company for 3 years or more will receive an annual cash allowance for each child born after July 1, 2023, until they reach the age of five," the report says. "The company plans to invest a total of $1.377 billion in the program." According to the founder Trip.com According to James Liang, who has been doing research in the field of demography for many years, he "suggested that the Chinese government allocate benefits to young families who want to have many children, but companies should also contribute."
The travel company has long been engaged in supporting working mothers, pregnant employees, and also provides the opportunity to work remotely on certain days of the week so that people can pay enough attention to their families.
From the 1970s until 2015, China adhered to the "one family, one child" policy aimed at reducing rapid demographic growth and prohibiting married couples living in cities from having more than one child.
This course eventually led to a critical decline in the birth rate and a high rate of population aging. By the end of 2020, the share of Chinese citizens aged 60 and over reached 18.7%, the number of able-bodied population in the age category from 16 to 59 years has decreased by more than 40 million people over the past 10 years, writes TASS.