Hong Kong CNN —China’s Trip.com, one of the world’s largest online travel agencies, is introducing new childcare subsidies worth 1 billion yuan ($138 million) to encourage its 32,000 employees to have kids. Trip.com’s announcement follows similar initiatives by smaller Chinese companies and comes as the country faces a demographic crisis. The country is now the world’s second most populous nation, having fallen behind India, according to the United Nations. Giving birth to a first or second child would lead to payments of 30,000 yuan ($4,130) and 60,000 yuan ($8,260) respectively, the reports said. Some 6.83 million couples married in 2022, according to data released by China’s Ministry of Civil Affairs earlier this month.

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Persons: China’s, ”, James Liang, …, ” Liang, — CNN’s Simone McCarthy Organizations: Hong Kong CNN, Workers, Communist, United Nations, Beijing, Beijing Dabeinong Technology, China Securities, QiaoYin, QiaoYin City Management, China’s Ministry of Civil Affairs Locations: Hong Kong, Communist China, India, Trip.com, Beijing, QiaoYin City, China