China Ends One-Child Policy, Now Allowing Two Children In Families:-

Thursday’s announcement was the highlight of a party meeting at which President Xi Jinping sought to display his control over a flagging economy after a jittery summer of tepid indicators, deepening skepticism about official data and a tumultuous slide in the stock market.Abolishing the one-child policy would “increase labor supply and ease pressures from an aging population,” the National Health and Family Planning Commission, which enforces the policy, said

in a statement issued after the party meeting. “This will benefit sustained and healthy economic development,” the commission said.

Yet while the decision surprised many experts and ordinary Chinese, some said it was unlikely to ignite either a baby boom or an economic one.

“Anything demographic, we always have to think in terms of decades in terms of long-term impact,” said Tao Wang, the chief China economist at UBS.

“It’s not about stimulating growth or consumption of baby powder next quarter or next year,” she said. “Will the birthrate go up? Yes. Will it somehow increase significantly? We don’t know.”

China eased some restrictions in the one-child policy in 2013, allowing couples to have two children if one of the spouses was an only child. But many eligible couples declined to have a second child, citing the expense and pressures of raising children in a highly competitive society. Many tens of millions couples may be eligible for two children under the new rule, theChina News Service reported, citing demographers.