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<Research>Citi Expects CHINA FEIHE, H&H INTL HLDG to Benefit from CN Childcare Subsidy Program
According to Chinese media reports, the Chinese government will launch a nationwide childcare subsidy program of RMB10,800 per child according to the Implementation Plan of Childca...
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<Research>Citi Expects CHINA FEIHE, H&H INTL HLDG to Benefit from CN Childcare Subsidy Program
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According to Chinese media reports, the Chinese government will launch a nationwide childcare subsidy program of RMB10,800 per child according to the Implementation Plan of Childcare Subsidy System, Citi wrote in its research report.

Considering that some local governments may not have sufficient financial resources, Citi estimated that subsidies from the central government would help provide minimal support for promoting childbirth at the national level.

Related NewsCICC Cuts CHINA FEIHE's TP to HKD6; Rating Kept Outperform
The broker also pointed out that local governments with financial surpluses would still have the incentive to offer additional childcare subsidies on top of the central government's support to amplify the stimulus impact. CHINA FEIHE (06186.HK)  -0.010 (-0.220%)    Short selling $5.45M; Ratio 8.390%   and H&H INTL HLDG (01112.HK)  +0.120 (+1.075%)    Short selling $2.96M; Ratio 11.292%   are expected to be among the beneficiaries in China's infant formula sector as covered by the broker.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-07-16 12:25.)

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