With the adoption of the two-child policy, China has seen a boom of its "second-child economy"...
With the adoption of the two-child policy, China has seen a boom of its “second-child economy”, heating up related industries, according to a media report on Friday. The report by Guangzhou Daily said health products saw a significant growth in sales, with more people turning to pharmaceuticals to improve their chances of conceiving, the People’s Daily reported.
Popular products including prenatal supplements like folic acid and vitamins have seen the highest increase of 90 per cent. Obstetrics departments at hospitals are seeing busy days ahead, as the demand for antenatal care keeps growing. Women sometimes have to line up for hours to see a specialist, the People’s Daily reported citing the report.
Fueled by such great demand, many industries have seen profit hikes. Child photo studios are expanding their businesses. Shopping and entertainment centres, targeting mother and child businesses are actively promoting goods and services. China officially adopted its two-child policy in the beginning of 2016.
The country’s statistic authorities expect second child births will peak between 2017 and 2019, likely further unleashing the potential in related industries, the report added.