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China’s IIT Childcare Deductions

In 2021 China unveiled the Three-Child Policy to increase the birth rate, maximize the role of the population in driving social and economic growth, and reduce the long-term demographic imbalances. Moreover, measures were announced to support couples to have children and ease the tax and financial burden (primarily educational and housing costs) of raising them. On 5 March 2022, the Government Work Report discussed during the National People’s Congress suggested that the expenses for the care of infants and young children under the age of 3 sha