Impact Of Population Aging On The Industrial Structure In Hunan Province

In the continuous progress of population aging in the world,the level of population aging in China has also developed rapidly.In 2015,the proportion of the elderly population in China had reached 10.47%,far exceeding the international standard of 7%.The aging of population will lead to an insufficiency of labor supply and an increase in the burden of social support,but it will bring great opportunities for the development of the aging industry and the tertiary industry,thereby injecting new vitality into the development of the industrial structure.As the most populous province in China,the proportion of the elderly population in Hunan Province was 11.22% in 2015,which was higher than the national average and was characterized by deep levels and rapid growth.The increase in the proportion of the elderly population has a significant impact on the employment structure and industrial structure.In recent years,Hunan’s industrial structure has developed slowly,the proportion of the primary industry is higher than 10%,and there is a large room for growth in the tertiary industry.The overall level of the industrial structure needs further improvement.Therefore,the study will help Hunan Province to effectively cope with the impact of population aging on the industrial structure,seize the opportunity to promote the transformation and upgrade of industrial structure,and thus drive greater economic growth.This paper uses a combination of theoretical research and empirical analysis.Firstly,the author summarized the theoretical mechanism of the influence of population aging on the industrial structure from the supply and demand aspects.Secondly,this paper selects Hunan’s time series data from 1995 to 2015,and uses a multiple linear regression model to analyze the effects of population aging under the conditions of controlling human capital,foreign direct investment,technological progress,policy systems,and trade openness.Finally,using the method of grey correlation analysis,this paper explores the relationship between population aging and the three industries.The regression coefficient of the aging population variable is 1.488 with a confidence level of 5%,indicating that the aging population has a significant upgrading effect on the industrial structure of Hunan Province and it will promote the transformation of industrial structure to tertiary industry.Human capital is also conducive to the development of the industrial structure,but the policy system and foreign direct investment will suppress the evolution of the industrial structure to a higher level.There is a strong correlation between aging population and the tertiary industry in Hunan Province,which can also drive the development of the healthcare industry,financial industry,and sports entertainment industry.Based on the research conclusions,this article puts forward several suggestions for the development of population aging and industrial structure in Hunan Province,hoping to play a role in reference.