Opinion: Beijing’s Strategic Pivot to Investing in People
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A new national childcare subsidy is the first major step in a vast shift from infrastructure spending to human-capital investment. Photo: AI generated
Beijing has begun rolling out a new national policy to encourage people to have children. But the move is more than just a demographic fix — it signals a profound strategic pivot. On Sept. 8, the National Health Commission announced that applications for a new childcare subsidy are officially open. According to the plan, the government will provide an annual subsidy of 3,600 yuan ($495) for each child under three years old as of Jan. 1, 2025.
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- China launched a new childcare subsidy, offering 3,600 yuan ($495) annually per child under three starting January 1, 2025, to encourage births.
- The policy marks a shift from infrastructure investment to “investing in people,” redirecting resources toward social welfare, education, and lifelong skills.
- The initiative aims to address demographic decline by building human capital, fostering innovation, and aligning education with industry needs for sustainable growth.
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What Happened When
- 2023：
- The concept of integrating 'investing in things' with 'investing in people' was mentioned at the first meeting of the 20th Central Financial and Economic Affairs Commission.
- Jan. 1, 2025：
- The new childcare subsidy plan covers each child under three years old as of this date.
- 2025：
- The government work report made the directive explicit, vowing to drive more financial resources toward public welfare, job creation and consumer incentives.
- Sept. 8, 2025：
- The National Health Commission announced that applications for the new childcare subsidy are officially open.
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