China has been forced to lure its citizens with money rewards as birth rate reaches concerning low.
Last week, in the latest move to boost the birth rates, the country announced it would offer parents an annual subsidy of 3,600 yuan ($500) for every child until age three, effective from January 1.
This move displayed quite a contrast to China's old policies, which for decades, pressured couples to have fewer children, through hefty fines, forced abortions and sterilizations, only to plea the newer generation to have more babies.
Many believe the amount is not enough to encourage someone to take such a massive responsibility as raising a child to the age of 18 costs an average of 538,000 yuan ($75,000) in China, more than six times its GDP per capita.
According to a study conducted by the Beijing-based YuWa Population Research Institute, in Shanghai, the cost soars over 1 million yuan.
The younger generation decision to not have children has also been fuelled by China's declining economy and increase in youth unemployment.
Due to shrinking workforce and a rapidly aging population, Chins discarded its one-child policy in 2016, allowing couples to have two children and then three in 2021.
However, despite the new regulations and efforts by the government, the birth rates have continued to slide with the overall population seeing a decline for three consecutive years.
