China's Second Demographic Window of Opportunity

The demographic dividend refers to the process of transforming population advantages into economic ones to achieve rapid growth. The opening and acquisition of a demographic window of opportunity requires corresponding institutional guarantees. Thanks to reform and opening-up, China has opened and reaped its first demographic window of opportunity. As China enters the critical stage of reform and upgrades for economic development, population advantages have been shifting from quantity to quality on a solid basis, marking the opening of our second demographic window of opportunity. Establishing and implementing compatible social and economic policies will be helpful to maximize advantages of this demographic "gift" and modernize China’s economic system.