Jul 29, Kathmandu - China has announced subsidies to improve the birth rate.

China will now provide parents with a $500 subsidy per child per year for children under the age of three. It has said that this subsidy will be up to $1,500 for three children.

The policy was announced to increase the birth rate in China. According to Chinese state media, this policy of China is said to help about two million families raise their children.

In an effort to boost the birth rate, China ended its policy of having fewer children about a decade ago. Since then, the birth rate in China has been steadily declining.

China had 9.54 million births last year. This figure is half the number in 2016 and 1.39 million fewer than the previous year.