Vice President Yu Hong’s CFEN interview on “three-child policy”

The meeting of Political Bureau of the CentralCommittee of the Communist Party of China held recently required for furtheroptimization of childbirth policy and the implementation of the policy that acouple can have three children and the supporting measures thereof. The newsattracted great attention from the society once it was released. Expertsbelieve that the key of encouraged three-child birth is the formulation of the supporting“policy package”.

As stated by our Vice President Yu Hong in aninterview with a reporter from ChinaFinancial and Economic News on the “three-child policy”, “theimplementation of the three-child policy is conducive to further improving theage structure of population and expanding the supply of new labor. Thepromulgation of this policy highlights China’s tendency of gradual relaxationof the childbearing policy”.

“The relevant data shows that the comprehensivetwo-child policy has a certain incentive effect on raising the fertility level,but there is a gap between its implementation effect and the previous policyexpectation”, Yu Hong thinks that it is more critical to further formulateeconomic and social policies supporting the childbearing policy when comparedwith the three-child policy itself.

Yu Hong also stated that, from the commencement ofthe implementation of three-child birth policy to its real effectiveness, the relevantauthorities shall coordinate to launch the “policy package” in response tovarious demands and comprehensively improve the overall fertility environment.She said the “policy package” shall include the social security policies, includingmaternity insurance and other maternity security systems, and the supportingpolicies in education and housing, as well as social policies other than socialsecurity, such as care for women in the workplace after child-bearing, etc.

“There are manyreasons for the decline in young people’s child-bearing willingness. A certainpolicy will certainly have limited effect. On when all aspects of socialpolicies in the ‘policy package’ are specifically transmitted to every family,can they influence the child-bearing preferences and even the decision-making”,Yu Hong said.