政策加速落地 母婴行业消费市场活力释放

Group 1 - The implementation of the childcare subsidy policy is set to begin on January 1, 2025, providing a subsidy of 3,600 yuan per child per year for children under three years old, which is expected to stimulate consumption and improve economic development [1][2] - The central government will cover approximately 90% of the subsidy costs, with an estimated total expenditure of around 1,000 billion yuan annually, including 900 billion yuan from the central government and 100 billion yuan from local governments [2][3] - The subsidy is anticipated to increase disposable income for families with infants, positively impacting sectors such as baby products, milk powder, toys, and clothing [5][6] Group 2 - The childcare subsidy is expected to enhance consumer willingness and ability, with a projected increase in family consumption propensity by 0.2 percentage points due to the additional income [3] - The maternal and infant industry is projected to experience significant growth, with the market size expected to reach 4.2 trillion yuan in 2024 and surpass 5 trillion yuan in 2025, indicating a compound annual growth rate of over 15% [6] - Specific sectors such as dairy products, maternal and infant retail, baby products, and postpartum care services are expected to benefit the most, with some areas like postpartum care potentially seeing growth rates exceeding 30% [6]