Hong Kong, Facing an Exodus, Offers Money for Babies
livemint.comHONG KONG—Hong Kong’s government is grappling with an exodus of citizens and a plummeting birthrate. Its solution: Subsidize baby-making. The city has lost its appeal to some residents over the last four years, hurt by strict rules during the Covid-19 pandemic, anxieties about the growing political influence of Beijing, and competition from Singapore and elsewhere.
Those who choose to remain in the city are increasingly opting out of having children: Hong Kong’s fertility rate is the lowest in the world. The city’s government hopes to address this problem by paying a cash bonus to couples who have children. They will receive the equivalent of around $2,550, as well as other perks such as priority when renting or buying government-subsidized housing and increased access to in vitro fertilization.
There are just 0.8 children born per woman in Hong Kong, according to a United Nations Population Fund report this year that compared a mix of countries and other territories. This puts it even below the 0.9 child average in South Korea, which also offers cash bonuses to new parents. But Hong Kong’s attempt to boost the births with cash payments is unlikely to work, said Paul Yip, a population-health expert and chair professor at the University of Hong Kong, who believes the birthrate will continue to decline.
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