The Nobel Laureate holder in economics, Gary Becker, says China should invest more in education to gain a greater return from its human capital.
He spoke at a forum hosted by China Center for Economic Research or CCER in Peking University on Thursday. 
(From left to right in the first photo, HSBC Chief Executive China Business Richard Yorke, Professor Gary S. Becker, Director of China Center for Economic Research, Lin Yifu)
Becker said China's return rate from educational investment in its urban areas has jumped from 3.3 percent in 1988 to 11.1 percent in 2000. 
Besides school-based education, on-job training, and health investment are the important means to improve the quality of human capital, which will become the main force for future economic growth.
Figures from Ministry of Education show that China's investment in education accounts for 3.41 percent of its gross domestic product in 2004, while the same figure in the United States has reached at least 17 percent in 2001.
The Chicago University professor won the 1992 Nobel Prize in economics for having extended the domain of economic theory to aspect of human behavior, which has previously been dealt with by other social science disciplines.
The forum is co-sponsored by the Hong Kong and Shanghai Banking Corporation and the CCER.
http://en.chinabroadcast.cn/2600/2005-6-2/116@243143.htmThe Nobel Laureate holder in economics, Gary Becker, says China should invest more in education to gain a greater return from its human capital.
He spoke at a forum hosted by China Center for Economic Research or CCER in Peking University on Thursday. 
(From left to right in the first photo, HSBC Chief Executive China Business Richard Yorke, Professor Gary S. Becker, Director of China Center for Economic Research, Lin Yifu)
Becker said China's return rate from educational investment in its urban areas has jumped from 3.3 percent in 1988 to 11.1 percent in 2000. 
Besides school-based education, on-job training, and health investment are the important means to improve the quality of human capital, which will become the main force for future economic growth.
Figures from Ministry of Education show that China's investment in education accounts for 3.41 percent of its gross domestic product in 2004, while the same figure in the United States has reached at least 17 percent in 2001.
The Chicago University professor won the 1992 Nobel Prize in economics for having extended the domain of economic theory to aspect of human behavior, which has previously been dealt with by other social science disciplines.
The forum is co-sponsored by the Hong Kong and Shanghai Banking Corporation and the CCER.
http://en.chinabroadcast.cn/2600/2005-6-2/116@243143.htm
