Young Parents and Chinese Family Planning

family planning policy: China has relaxed its family planning policy this year, allowing each family to have two children, according to Xinhua China. For young parents like Sun, raising another child is far more than food supply. The 33-year-old mother bought beads for her seven-year-old daughter and a LEGO set for her preschool son. According to Chinese family planning authorities, the two-child policy will add an estimated 3 million babies annually for a total of 17.5 to 21 million newborns each year in the next five years. Unlike their thrifty parents, young couples who were doted on as single children tend to spend free-handedly, especially for their beloved next generation. Most of the young parents were born after the late 1970s, when China one-child policy took effect. (news.financializer.com). As reported in the news.