一财社论：以更强合力让“投资于人”落到实处

Core Viewpoint - The emphasis on combining investment in physical assets and human capital is crucial for promoting overall investment and addressing external challenges [1] Group 1: Investment Focus - Investment in physical assets includes infrastructure, housing, and machinery, which solidify the material and technical foundation for economic development [1] - Investment in human capital encompasses enhancing capabilities and potential across the entire population, focusing on areas like childcare, elderly care, health, education, and skills training [1] - Current slowdown in investment growth indicates saturation in infrastructure, while investment in human capital presents significant opportunities [1] Group 2: Investment Strategy - The "14th Five-Year Plan" suggests strengthening human resource development and increasing investment in social welfare sectors like elderly care and education to build a people-centered social security system [3] - A combination of "hard investment" (infrastructure) and "soft construction" (knowledge and skills enhancement) is essential for sustainable development [3][4] Group 3: Funding Sources - Fiscal investment is a key financial source, with the government allocating significant funds for healthcare, totaling over 3 trillion yuan from 2018 to 2025 [5] - Encouraging social capital investment in human capital is vital, requiring policy adjustments and a conducive environment for private sector involvement [5] - Legal frameworks like the Private Economy Promotion Law aim to eliminate barriers for social capital investment in human development [5] Group 4: Policy Implementation - Ensuring the effective implementation of human capital investment policies requires robust assessment mechanisms for local governments [6] - Establishing statistical systems to include human investment in national accounts is necessary for tracking progress [6] - A shift in focus from immediate returns on physical investment to long-term benefits of human capital investment is essential for sustainable development [6]