Recently, the General Office of the CPC Central Committee and the State Council issued the “Implementation Plan for the Parenting Subsidy System”. The childcare subsidy system will be implemented from January 1, 2025. The subsidy targets are infants and young children under the age of 3 who have given birth in accordance with laws and regulations until they are over 3 years old. Parenting subsidies are paid annually, with the subsidy standard being RMB 3,600 per child per year.
The parenting subsidy system is an important people’s livelihood policy, involving thousands of households. Guo Yanhong said that my country’s implementation of the parenting subsidy system will produce three expected effects: First, it will help reduce the burden of family raising, second, it will create a fertility-friendly social atmosphere, and third, it will better protect and improve people’s livelihood.
“Implementing the parenting subsidy system will also help to work in the same direction as policies related to childcare, education, employment, taxation, housing, etc., continuously improve the birth policy system, better form a systematic integration effect, and promote the construction of a fertility-friendly society.” Guo Yanhong said.
At this stage, the basic standard for national parenting subsidies is 3,600 yuan per child per year until he or she is 3 years old. Guo Yanhong said that this is based on the various factors such as the raising costs of residents in my country and the government’s financial situation in the current development stage, and also refers to the relevant situation of international parenting subsidies, and is comprehensively determined in accordance with the principle of doing your best and doing what you can.
Guo Yang, Director of the Social Security Department of the Ministry of Finance, introduced at the press conference that the central government will set up a “childcare subsidy fund” for the transfer payment project of the common fiscal powers, and a budget of about 90 billion yuan will be arranged this year. The central government will subsidize local governments at a certain proportion of the funds required to issue national basic standard subsidies, and the central government will generally bear about 90%. At present, financial departments at all levels are working with the health and health departments to carry out the calculation and issuance of subsidy funds.
