The Childcare Subsidy System Implementation Plan has been implemented, which specifies that families with children under the age of three who meet legal and regulatory requirements will receive starting from January 1, 2025, annual subsidies with the national basic standard set at RMB3,600 per child per year, CICC wrote in its research report. In the broker's opinion, the policy will be conducive to milk powder and baby-related stocks in the near term, with which attention should be put on leading dairy and diaper companies.Related NewsCiti: Childcare Subsidy More Meaningful as Consumption Policy than Population PolicyIn the short term, the increase in disposable income for childcare will directly benefit the demand expansion and structural upgrade of baby-related products, such as milk powder, diapers, children's milk, and baby food. CICC estimated that the valuation of the dairy industry, including milk powder, and the overall consumer industry valuation will be somewhat boosted for a while.The beneficiaries will mainly include CHINA FEIHE (06186.HK) -0.090 (-1.927%) Short selling $25.51M; Ratio 17.226% , H&H INTL HLDG (01112.HK) -0.340 (-2.967%) Short selling $16.75M; Ratio 31.073% , YILI (600887.SH) +0.100 (+0.365%) , MENGNIU DAIRY (02319.HK) -0.220 (-1.343%) Short selling $72.76M; Ratio 27.606% , and HENGAN INT'L (01044.HK) -0.250 (-1.064%) Short selling $25.71M; Ratio 35.900% .(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-08-01 16:25.) (A Shares quote is delayed for at least 15 mins.)