The collaboration between Bowtie, Merck, and Hong Kong’s Primary Care Education Foundation (PCEF) has launched the “Family Matters Initiative” to address Hong Kong’s declining fertility rate. This initiative comes in response to alarming statistics from the United Nations Population Fund’s “Annual Report 2023” and the Census and Statistics Department, which show a 77% decrease in fertility rates among women aged 20-24 over the past 30 years, while rates for women aged 40-44 have increased by 91%.
Key findings from the “Primary Care Education Foundation x Merck x Bowtie Family Support Needs Survey 2024,” which involved around 200 employees, highlight significant challenges and perceptions regarding family planning:
Financial Burdens: 67% of respondents believe a family income over HK$100,000 is required for childcare expenses.
Work Pressure: 76% feel that work pressure negatively impacts their desire to have children.
Child-Raising Costs: Nearly 80% think at least HK$6 million is needed to raise a child to age 22.
Company Support: Less than a third of respondents said their companies had fertility-encouraging measures.
Flexible Working Arrangements: 84% hope for more flexible working arrangements to support childcare.
Government Support: 71% find current government fertility incentives insufficient.
Incentives for Having Children: Over half (51%) would consider having children if their companies provided more incentives, and 57% want the government to prioritize financial support.
To alleviate these concerns, Merck will offer HK$280,000 in fertility subsidies per employee, which will cover fertility testing, egg freezing, and various infertility treatments. This financial support aims to lessen the burden of in-vitro fertilization (IVF) and encourage higher birth rates. Tony Cheng, Managing Director of Merck Hong Kong & Macau, emphasized the initiative’s goal to improve employees’ quality of life and positively impact the fertility rate in Hong Kong.
Additionally, the initiative will promote fertility knowledge through educational videos and articles. Fred Ngan, Co-Founder and Co-CEO of Bowtie, emphasized their dedication to fostering a family-friendly work culture and raising awareness about childbearing. PCEF Chairman Kwan Chi-kang called for more companies to join the initiative and collaborate with the government to support higher birth rates, encapsulating the vision of “Building Family, Building Hong Kong.”
This initiative represents a significant effort to address the demographic challenges faced by Hong Kong, promoting a supportive environment for families and aiming to boost the city’s long-term development through enhanced fertility rates.
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