China’s Trip.com Rewards Workers With Childcare Cash for Babies

(Bloomberg) — China’s Trip.com Group Ltd. will offer childcare subsidies to employees for each newborn child through the age of five, the online tourism agency said. It is part of a family-friendly program launched as birth rates decline in the world’s second-biggest economy.

Employees who have worked at the company for three years or longer will be eligible for an annual cash bonus of 10,000 yuan ($1,379) starting on each child’s first birthday. The subsidy is part of a 1 billion yuan program the company is creating to promote working families and support employees in their planning, according to a statement published Thursday.