China’s biggest online travel agency to pay employees 1 billion yuan to have kids

The company said it would pay a parental cash subsidy of 10,000 yuan annually for five years for every child born to its employees worldwide.

Trip.com Group said on Friday it would pay 50,000 yuan ($6,897.69) to employees for each child they have starting July 1 - the first such initiative by a large private company in China as the country struggles with an ageing population.