The Implementation Plan for the Childcare Subsidy System recently issued by the General Office of the Communist Party of China Central Committee and the General Office of the State Council specifies that from January 1, 2025, subsidies will be provided to infants and young children under the age of 3 who meet the legal requirements for childbirth until they reach the age of 3. The childcare subsidy is issued annually, and the current national basic standard is 3600 yuan per child per year. The relevant person in charge of the Population Monitoring and Family Development Department of the National Health Commission stated that issuing childcare subsidies is a long-term institutional arrangement and an important measure of "investing in people", which is conducive to building a fertility friendly society and promoting high-quality population development. The childcare subsidy is issued annually in terms of subsidy standards. The plan specifies that the childcare subsidy is issued annually, and the current national basic standard is 3600 yuan per child per year. Among them, for infants and young children born before January 1, 2025 and under the age of 3, subsidies will be calculated based on the number of months they should receive subsidies. Child rearing subsidies issued in accordance with the regulations of the child rearing subsidy system are exempt from personal income tax. When identifying assistance recipients such as those receiving the minimum living allowance and those in extreme poverty, childcare subsidies are not included in family or personal income. The child care allowance shall be applied for by one of the parents or other guardians of the baby from the place where the baby's registered residence is located according to the regulations. The applicant shall fill in relevant information, provide birth medical certificates, household registration books and other materials for infants and young children, and make a commitment to the authenticity and completeness of the information and materials provided. The above person in charge said that online application is the main way to submit child care subsidy applications. The applicant can enter the child care subsidy application area through the "child care subsidy" applet on Alipay and WeChat platforms, or the government service platform of the province where the infant registered residence is located, and log in to the "child care subsidy information management system" to apply. To ensure timely and sufficient distribution of subsidies, the plan proposes that the central government will establish a joint financial transfer payment project called "Childcare Subsidy Subsidy Fund" from 2025, and provide subsidies to the eastern, central, and western regions in proportion to the funds required for the distribution of national basic standard childcare subsidies. The funds required for local bidding shall be borne by the local finance department. The plan is clear, and each province will determine the specific distribution time based on its actual situation, improve the efficiency of distribution, and ensure that subsidies are timely and fully distributed. At present, various regions are working hard to formulate specific implementation plans for the childcare subsidy system, actively preparing for various tasks. It is expected that various regions will gradually open up the application for childcare subsidies in late August, "said the person in charge. The above-mentioned person in charge stated that childcare subsidies benefit families with infants and young children, and through financial support for family childbirth and upbringing, it effectively enhances the sense of gain, happiness, and security of the people. Granting childcare subsidies is a long-term institutional arrangement and an important measure of "investing in people", which is conducive to building a fertility friendly society and promoting high-quality population development. (New Society)
Edit:Yao jue Responsible editor:Xie Tunan
Source:China Securities Journal
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