China's Childcare Subsidy System Implementation Plan was implemented, JPMorgan issued a research report saying. Starting from 1 January 2025, the policy will provide a subsidy of RMB3,600 per year for all children under the age of three.However, the market seems to have reacted lukewarmly to the policy, with some related medical services stocks opening higher yesterday morning (29th) but then dropping, JPMorgan added. These stocks include assisted reproduction services firms such as JXR (01951.HK) +0.010 (+0.300%) Short selling $26.78M; Ratio 5.680% and BASECARE-B (02170.HK) -0.100 (-3.460%) , as well as maternity and postpartum care centers like SAINT BELLA (02508.HK) -0.210 (-2.869%) , while the CSI 300 China Healthcare Index gained 2%. Related NewsSinolink Securities Estimates CN Childcare Subsidy Scale at RMB120B This Yr, Generating RMB85.5B in Consumer SpendingThe broker believed that the subsidies are within market expectations, and more childbirth support measures are needed to reverse the low fertility rate.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-08-01 16:25.)