China’s Trip.com, one of the world’s largest online travel agencies, is introducing new childcare subsidies worth 1 billion yuan ($138 million) to encourage its 32,000 employees to have kids.
Workers who have been with the company for at least three years will receive an annual bonus of 10,000 yuan ($1,376) for each new-born child every year from the child’s first birthday until they reach the age of five. The policy will take effect on Saturday.
“Through the introduction of this new childcare benefit, we aim to provide financial support that will encourage our employees to start or grow their families without compromising on their professional goals and achievements,” Trip.com executive chairman James Liang said in a statement Friday.