Recently,The 15th International Symposium on Human Capital and the 2023 Chinese Human Capital Report Conference was held in our university. The conference was hosted by the Center for Human Capital and Labor Economics. Professor Li Haizheng, head of the Chinese Human Capital Measurement Project, and Barbara M., founder of the Jorgenson-Fraumeni income calculation methodProfessor Fraumeni co-authoredThe Chinese and English versions of the Chinese Human Capital Report 2023 were released, and the estimation results of China's latest human capital index were announced.
Meeting site. The project results "Chinese Human Capital Report" series adopts the traditional education level measurement method and the Jorgenson-Fraumeni (J-F) income calculation method based on the internationally accepted lifetime income, and introduces the latest data published by the National Bureau of Statistics, universities and social survey departments every year to measure human capital and provide the latest and more accurate human capital estimates. Since its first release in 2009, the "Chinese Human Capital Report" has been released for 15 consecutive years, and has been highly valued by international and domestic academic circles and departments, with a wide range of social impactSome of the content has been included in official World Bank research reports and in prestigious international and national journals.
Chinese Human Capital Report 2023".
The conference was chaired by Professor Liu Zhiqiang, Distinguished Professor of the Center for Human Capital and Labor Economics and State University of New York at Buffalo, and attended by Professor Li Tao, Vice President of our university, and Professor Jong-Wah Lee of Korea University attended the conference and delivered welcome speeches.
The 2023 Chinese Human Capital Report was released at the meeting. Prof. Fraumeni introduced the Human Capital Project team and the results and impact of the project, and demonstrated the human capital measurement methodology used in the project. Li Haizheng introduced the update and improvement of the 2023 Human Capital Project, reported the results of this year's project, and looked forward to the future development plan of the Human Capital Project. Prof. Jong-Wah Lee and Prof. Patrick McCarthy of Georgia Tech commented on the report, fully affirming the achievements of the 2023 Human Capital Project and expressing expectations for the development of human capital. Professor Lance Lochner, professor at the University of Western Ontario and editor-in-chief of Journal of Political Economy, delivered a keynote speech. The conference received nearly 100 submissions from scholars at home and abroad, and 50 papers related to human capital research were accepted by the conference and discussed in 18 parallel branches.
Professor Li Haizheng released the report
Comments by Prof. Patrick McCarthy and Prof. Jong-Wha Lee.
The Chinese Human Capital Index Project is a national-level key project jointly participated by distinguished professors of the Research Center for Human Capital and Labor Economics, all teachers and students, and continuously supported by the National Natural Sciences** and special funds of our university. The project aims to establish China's first scientific and systematic human capital index, quantitatively describe the distribution and development dynamics of Chinese's human capital, and provide comprehensive metrics for more in-depth research on human capital and its role in China's economic development. In practice, it provides a quantitative basis for major economic and social decisions, and at the same time provides preliminary work for the measurement methods and indicators of Chinese's human capital to become part of the international human capital index system, and human capital to be included in China's national wealth measurement system as a part of the national account.
2023 Chinese Human Capital ReportPublish a summary of the content
Note: 1) Definition of the labor force population in mainland China: female 16-55 years old, male 16-60 years old, excluding students;2) The average annual growth rate is calculated based on the average of each year from the beginning to the end year).
The Chinese Human Capital Measurement Project was established in 2009 and has been continuously funded by the National Natural Science ** and other national ministries and commissions**It is a key support project for the landmark academic achievements and first-class discipline construction of the University of Finance and Economics. The project aims to establish a scientific, systematic and international Chinese human capital measurement index system to quantitatively describe the distribution and development dynamics of Chinese human capital.
Chinese Human Capital Report 2023 is the fifteenth consecutive year of the Chinese Human Capital Report released by ** University of Finance and Economics. The report introduces the latest data published by the National Bureau of Statistics, universities and social survey departments to update, adjust and improve all calculations, and form a variety of human capital measures by urban and rural areas at the national and provincial levels (including Hong Kong Special Administrative Region and Taiwan) in China from 1985 to 2021Provides the most up-to-date and more accurate human capital estimates.
In layman's terms, human capital refers to the knowledge, skills and abilities that can lead to benefits. Commonly used measures of human capital include education level, work experience, etc. Educational attainment is a measure of human capital acquired through formal education, while work experience focuses on the human capital accumulated through Xi and training on the job, as well as depreciation due to age. The comprehensive measurement of human capital usually uses income, and the internationally widely used comprehensive measure of human capital is estimated based on the Jorgenson-Fraumeni lifetime income calculation method (hereinafter referred to as the J-F method).
1. Comprehensive measurement indicators of human capital
The comprehensive measure of human capital covers a wide range of aspects, including education, and is generally measured by personal income. The Chinese Human Capital Report 2023 adopts and improves the internationally widely used Jorgenson-Fraumeni lifetime income calculation method (hereinafter referred to as the J-F method) to estimate Chinese human capital with money as a comprehensive measurement index.
In 2021, the total amount of Chinese human capital was 3,378 at the current year's value3 trillion yuan, of which 3,005 in urban areas6 trillion yuan, 372 in rural areas7 trillion yuan, accounting for 88 percent of the total value of human capital9% and 110%。(The total human capital includes the human capital of the working population and the expected human capital of minors, and the human capital of the retired population is zero in the general economic sense.) The total amount of human capital depends on the number of non-retired people, the age structure of the population, and the level of education. ）
The total amount of Chinese human capital continues to grow, but the growth rate has slowed. Between 2001 and 2010, the average annual growth rate of total urban human capital was 1526% compared to 8 in rural areas35%；But between 2010 and 2021, the average annual growth rate of urban human capital fell to 9.09 percent, while rural areas dropped to 433%。
In 2021, China's total labor force and human capital was 1,062 at current year values9 trillion yuan, of which 844 in urban areas8 trillion yuan, 218 in rural areas1 trillion yuan, accounting for 79 percent of the total value of human capital5% and 205%。
In 2021, China's per capita labor human capital was 135 at that year's value70,000 yuan, of which 174 in urban areas90,000 yuan, 72 in rural areas60,000 yuan.
In 2021, the top five provinces in terms of labor capital per capita were Beijing, Tianjin, Shanghai, Jiangsu, and Zhejiang, while the bottom five provinces were (in descending order) Hainan, Yunnan, Gansu, and Qinghai.
From 2001 to 2010, the average annual growth rate of human capital per capita in China was 905% and 7 in rural areas56%；But between 2010 and 2021, the average annual growth rate in cities and towns fell to 612%, and 4 in rural areas35%。
2. Age-based indicators of human capital
From 1985 to 2021, the average age of China's labor force increased from 3225 years increased to 39He was 42 years old. Of these, the town ranged from 3303 years old rose to 3916 years old, country from 3199 years old rose to 39He was 82 years old. In 2021, the average age of the rural male labor force was over 40 years old (4039 years old).
In 2021, the three provinces with the oldest labor force in China were Heilongjiang (4117 years old), Liaoning (4076 years old) and Jilin (4057 years old), all over 40 years old.
From 1985 to 2021, the proportion of China's population aged 0-15 in the non-retired population decreased from 39% to 23%;The proportion of the population aged 45 to retirement age has risen from 10 per cent to 24 per cent.
3. Human capital indicators based on educational attainment
From 1985 to 2021, the average number of years of schooling for the national labor force increased from 614 years up to 1075 years, of which the town grew from 823 years up to 1169 years, the countryside from 5In 47 it rose to 924 years.
Gender differences in the average level of education in China's labor force are disappearing. As of 2020, the average number of years of schooling for the male labour force in urban areas was 1153 years, 11 women61 years;Rural males are 930 years, 9 for women06 years. However, the rural-urban disparity in average educational attainment has not improved significantly.
In 2021, the proportion of the population with college education or above in the labor force was 3407% and 5 in the countryside84%。
As a result of the general increase in educational attainment, the rate of return to education (the percentage increase in income from one year of additional education) in urban areas has been declining, with the rate of return to education for urban males from a peak of 83% to 57%, while urban women in the corresponding year increased from 100% to 60%。In contrast, the rate of return to education in rural areas has remained relatively stable or on an upward trend.
The human capital of education, calculated based on the income value of education, shows that in 2020, the labor force with an average level of education in a city was equivalent to 138 primary school level of the labor force, while in rural areas is equivalent to 122 pcs. At its peak, around 2010, the average urban human capital in education reached 150 primary school level workforce.
4. Regional human capital quality indicators
The human capital, calculated in terms of the equivalent of the basic skilled labor force (primary school and below), is the highest in the eastern provinces and lower in the western provinces. In 2019, the average labor force in the eastern region was equivalent to 133 basic labor force, while the western region is equivalent to 130 pcs.
Since 2010, the per capita human capital based on basic labor force has shown a downward trend in all regions, indicating that the difference in the value of relative skills between the average labor force and the basic skilled labor force has decreased.
Regional basic skills labour also exhibits considerable qualitative differences. According to 2017 data, the quality of the basic skilled labor force in the central region is 91 percent in the eastern region52 per cent, while the western region is only 85 per cent of the eastern region25%。
The Chinese and English versions of the Chinese Human Capital Report, the relevant calculation appendices, the Chinese and English versions of the Chinese Human Capital Briefing, as well as the relevant calculation results and raw data to form the Chinese Human Capital Database, are all free for all sectors of society to use**Official website of the Center for Human Capital and Labor Economics, University of Finance and Economicsand**The official website of the Joint Data Research Center of the University of Finance and Economics and the University of Electronic Science and Technology of China
**: Human Capital and Labor Economics Research Center Writer: Qin Qihan Guo Xiaolei Review: Li Haizheng Editor: Tianyi Review: Sun Ying
