China will introduce VAT on contraceptive drugs and devices for the first time in 30 years
According to statistics, China's population has been declining for the past three years. In 2024, only 9.54 million births were registered, which is less than half of the 18.8 million during the same period nearly ten years ago, when restrictions on the number of children in a family were lifted.
Chinese authorities are facing serious challenges in their attempts to increase the birth rate. According to the Yuyuan Institute of Population Research in Beijing, in 2024, China became one of the most expensive countries to raise children.
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