Asian Development Bank Vice President: Deepening aging population requires enhancing human capital for economic growth.

On March 22, the China Development High-Level Forum 2026 Annual Meeting was held in Beijing. Scott Morris, Vice President of the Asian Development Bank, delivered a keynote speech at the "Macroeconomic Policies and High-Quality Development Seminar." He pointed out that by building an adequate and sustainable pension system, establishing a healthcare and long-term care system that is suitable for an aging society, and implementing stronger family support policies, fiscal policies can increase labor force participation rates, improve family financial conditions, and reduce future uncertainty. Monetary policies that increase credit support for innovative enterprises, small and medium-sized enterprises, and green investments can complement these efforts. However, he also believes that as China's society ages, economic growth needs to shift from relying on factor inputs to relying more on human capital, technological innovation, and productivity enhancement. Supporting lifelong learning, promoting labor mobility, and improving economic policies for elderly care and childcare are essential complementary measures in macroeconomic governance.