Hong Kong Baby Products Stocks Soar, H&H International Holdings Rises Over 12%, Chinese Flying Cranes Increases by 3%! Government Announces Preliminary Budget of Around 900 Billion CNY for Childcare Subsidies

Hong Kong baby products stocks surged in the afternoon, with H&H International Holdings rising over 12% and Chinese Flying Cranes increasing by nearly 3%.

On the news front, the State Council Information Office held a press conference to introduce the childcare subsidy system and related support measures. According to the announcement, from January 1st, 2022 onwards, eligible infants and young children will be able to receive childcare subsidies.

In addition, in accordance with the implementation plan for the childcare subsidy system issued by the General Office of the State Council, the central government will establish a joint fiscal transfer payment project called "Childcare Subsidy Support Funds" this year. The preliminary budget is expected to be around 900 billion CNY.