Research On China’s Development Of Human Capital During Middle-income Period

At present,the "middle-income trap" has become one of the hot economic issues of international concern.In recent years,China’s economic growth has slowed down,and the economy has entered the new normal.The contradictions in the previously extensive economic development model have gradually been exposed,triggering the concern of the Chinese government and academia that China has fallen into the "middle-income trap..At the same time,with the disappearance of"demographic dividend",the voice of vigorously developing human capital and relying on "human capital dividend"to promote China’s economic growth is increasingly rising.Whether China’s current human capital stock can meet the needs of China’s economic growth and enable China to make a smooth transition from a middle-income country to a high-income country is worth further study.On the basis of summarizing the existing literature,this paper summarizes the action mechanism and influence mechanism of human capital on economic growth.Then,this paper innovatively USES factor analysis method to study the human capital stock status of provinces and cities in China from 2008 to 2017 by establishing a comprehensive and scientific index evaluation system.Combined with the empirical results,this paper expounds the existing problems in the development of human capital in China and puts forward policy Suggestions based on relevant international experience.Through research,this paper finds that there is a big gap in the development status of human capital among provinces and cities in China,which is reflected in the following aspects:the developed provinces and cities in the east,represented by Beijing,Shanghai and jiangsu,have a good human capital stock,while the provinces and cities in the central and western regions are relatively backward and the regional development is unbalanced.In addition,through the index weight analysis,we find that to develop human capital,China must focus on improving the level of education,especially to increase the investment in higher education.However,this paper also points out that China is facing some obstacles to the development of human capital.China’s higher education system is not perfect,there is a disconnection between production,education and research,and the development of human capital in China is unbalanced.Therefore,according to relevant international experience,to overcome the"middle-income trap",China must increase investment in education and improve the overall quality of its citizens.Push forward the reform of delaying retirement to reduce the pressure of providing for the aged;China should improve the medical system and deepen the effectiveness of the two-child policy.China should increase investment in the central and western regions and promote the rational flow of human capital.