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Hong Kong extends and expands financial support for having children
The measures include extending the newborn bonus scheme and increasing aid for second and later children, as officials push demographic sustainability.
Hong Kong’s first five-year plan and the city’s latest policy address have placed demographic sustainability on the public agenda, with measures that extend financial support for new parents, South China Morning Post reports.
Among the steps announced are an extension of the newborn bonus scheme and increased financial support for second and subsequent children.
The outlet argues that the fertility debate should not focus only on whether a benefit is large enough to change family decisions, and instead points to the broader economic risk from a shrinking younger population.
It says low fertility can affect innovation by weakening the talent pipeline needed for scientists, entrepreneurs, and skilled professionals to develop discoveries, companies, and products.