Srinagar, July 30 -- Chinarolled out on Monday an annual childcare subsidy of 3,600 yuan (about $500) until age three, as authorities look to spur a flagging birth rate with fewer young people choosing to have children.

The high cost of childcare and education, as well as job uncertainty and a slowing economy, are among the concerns that have discouraged many young Chinese from getting married and starting a family.

Subsidies will start from this year, with partial subsidies for children under three born prior to 2025, in a policy expected to benefit more than 20 million families of toddlers and infants, the official Xinhua news agency said.

The plan is an "important national livelihood policy," and direct cash subsidies would help "re...