ALBAWABA Starting from 1st of July, Trip.com company will pay 50,000 yuan ($6897.69) to employees for each child they have.
This is the first of its kind initiative launched by a large private company in China, as it grapples with the increasing number of elderly people among its population.
Trip.com's initiative aims to support its employees in their journey of parenthood.
Employees who have been with the company for a minimum of three years will be eligible for an annual bonus of 10,000 yuan ($2070) for each newborn child.
This bonus will be provided every year from the child's first birthday until they reach the age of five, benefiting the hardworking workers and their growing families.
This company is one of the largest online travel agencies in the world, with 400 million users.
As demographers have cautioned about China's demographic challenges, it is predicted that the country will face an ageing population before achieving substantial economic prosperity.
This circumstance arises from the shrinking workforce resulting from the implementation of the one-child policy, which was in effect from 1980 to 2015.
The birth rate in China dropped last year to 6.77 births per thousand people, compared to 7.52 births in 2021, marking the lowest recorded level.
