China's labor force shrinking, but workforce quality expanding

China's workforce has seen significant quality improvement as it has dwindled in size over the past two decades, an official said on Wednesday.

Yu Xuejun, deputy head of the National Health Commission, said the country's "population dividend" is waning but the "talent dividend" is growing.

But he stressed China's population dividend period has not ended.

The shift is in compliance with norms commonly seen in worldwide demographic development, he said during a news conference in Beijing, which was held to brief the press on a document released by central authorities late on Tuesday on improving fertility policies and balancing population growth.

Citing figures from China's once-a-decade censuses, Yu said the number Chinese workers holding college degrees reached 218 million last year, compared with just 46 million in 2000 and 120 million in 2010.

"China's labor force has begun to shrink, but the quality of its labor force has greatly improved, ushering in the opportunity of a talent dividend," he said.

"This is the basis for our high-quality development and one of the most important foundations for China's economic and social development."

But Yu also noted talent and population are equally important, as "there won't be talent without population".