In a major effort to tackle its deepening demographic crisis, China has launched a nationwide childcare subsidy scheme – the first of its kind by the central government.The much-anticipated programme offers families 3,600 yuan (US$501) annually for each child under the age of three, building on similar initiatives already piloted in more than 20 provinces.In this explainer, the Post looks into the potential impact of the new scheme – and how it compares internationally.How will the scheme...