Hong Kong Biopharmaceutical Company Offers Generous Subsidy to Encourage Family Planning
In a unique move to support both career advancement and family planning, a biopharmaceutical company in Hong Kong is offering a subsidy of HK$280,000 (US$35,850) to each employee. The initiative aims to alleviate the financial burden that often deters individuals from starting families while pursuing career growth.
The program, known as the “Family Matters Initiative,” is a collaboration between the Merck Group, NGO Primary Care Education Foundation, and Bowtie Life Insurance Company. It offers reimbursements for various fertility treatments, such as in vitro fertilisation and egg freezing, to both male and female employees.
A recent survey conducted by the three organizations revealed that financial concerns were the primary factor preventing Hongkongers from having children. With Hong Kong experiencing a significant decline in birth rates in recent years, initiatives like this subsidy program play a crucial role in addressing the issue.
Government efforts to boost the birth rate, such as a one-off cash bonus for newborns, have also been implemented. As the population in Hong Kong gradually rebounds post-Covid-19, initiatives like these are essential for sustaining long-term growth and development.