In the context of the irreversible and deepening of population ageing, the focus of the innovative country lies in the technological innovation. This paper uses the mediation model and the panel threshold model to verify the impact of population ageing on labor productivity through technological innovation pathway, and the transitional impact of technological innovation on labor productivity with population ageing as a threshold variable. The findings show that regardless of binding economic conditions, population aging has a mediating effect on labor productivity through technological innovations in addition to directly affecting labor productivity. When population ageing is viewed as a threshold variable, the impact of technological innovations on labor productivity is positive. When control variables are included, the influence of technological innovations on labor productivity becomes negative. The influence of innovations on labor productivity shows varying effects. During the demographic transition of the East area, the effect of technological innovations on labor productivity is in line with the mechanism of technological innovations on economic development.

Population ageing is one of the greatest challenges for the human society in the 21st century, impacting social and economic development of all the countries in the world. This paper focuses on health and medical expenditure of the elderly in the context of rapid population ageing in China. Based on the Health Transition and Two Part Models, it analyzes the fitted value of the transition probabilities and medical expenditure of disabled elderly. On the basis of future elderly population in China, it predicts the size of Chinese elderly with various health statuses and the trend of medical expenditure. The study finds that the elderly with mild disability have better health maintenance probability and better health improvement probability, while the elderly with moderate and severe disabilities have higher risk of becoming poor health status or death. Along with the increase of the elderly, the size of disabled elderly population in China is expanding, which exerts great pressure on medical services and medical expenditure.

At the historical juncture of 40 years since the Reform and Opening-up, we review the positive impacts of demographic dividend on Chinas economic miracle. Firstly, the rapid demographic transition leads to the large-scale and growing labor force, contributing to the demographic window of opportunity. It has been further reinforced by the superimposed human capital accumulated by rapid socioeconomic development. Secondly, under the guidance of Reform and Opening-up strategy, various economic and social policies built on the basic national conditions are gradually explored, guaranteeing the harvest of demographic dividend. These policies include allowing the free flow of labor, developing labor-intensive industries, reforming the system of employment and entrepreneurship, promoting equal labor opportunity for men and women, carrying out the healthy China initiative, implementing the strategy for invigorating China through science-education. Thirdly, the peaceful international environment and the globalization process have paved the way for economic development. Overall, with the combination and matching of a series of internal reform and opening to the outside world, China has become a model country harvesting the demographic dividend and creating an economic miracle.