Future Demographic Dividend – Tapping the Source of China’s Economic Growth

This paper presents a review of the demographic dividend in China's economic growth or the contribution of the demographic factor to China's rapid economic growth over the past 30 years. Based on this review, it explores how China has sustained high-speed economic growth in the midst of a slowdown in working age population growth, surplus labor depletion and population aging. This study intends to demonstrate that the second demographic dividend may still arise after the decline and even disappearance of the first demographic dividend to avoid demographic debt by boosting labor productivity through the furtherance of education, extending the competitive advantage of China's industry, tapping new sources of savings through institutional arrangements of pension security, and expanding labor resource and human capital stock in the aging era through the institutional arrangements in the labor market