China has announced tax-relief policies for parents rearing children under three years old, according to a State Council circular issued on Monday.
The circular said starting Jan. 1, 2022, the individual taxable income of such parents can be reduced by a total of 1,000 yuan (157 U.S. dollars) per month for each baby.
The deduction can be applied in full by one parent or can be split evenly, it added.
The policy is the implementation of a decision on improving birth policies to promote long-term and balanced population development.
It was adopted by the Communist Party of China Central Committee and the State Council in July.(Xinhua/NAN)
