China's Jilin province mulls baby loans for couples as population shrinks

The Chinese province of Jilin is considering giving loans of up to USD 31,400 to couples who want to settle down and raise children, Sputnik reported citing a draft document published by the regional authority.

The provincial authorities also want to try to stop the birth rate from sliding below the point of no return with discounted interest rates for married couples with children and tax exemptions for family companies, the Russian News Agency reported.

Jilin has one of the fastest-shrinking populations in China.

A national census showed in May that it has shrunk by more than 12 per cent in the past decade, despite the 2016 reversal of the national one-child policy, Sputnik reported.

It further reported that the rapidly aging population prompted the Chinese government to raise the baby limit from two to three children this year to encourage births after the previous easing produced no major effect.

( With inputs from ANI )

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