Successes and challenges of developing human capital in the People's Republic of China

As a developing and most populous nation in the world, the People's Republic of China (P.R. China) faces unique challenges and opportunities in developing its tremendous human resources. Since its policy of ‘reform and open-door’ was initiated in the late 1970s, China has moved steadily towards establishing a nationwide policy of developing human capital and adopting practical measures of implementation. The paper identifies key themes of developing human capital at different levels: in government, business and families. The paper also discusses unique historical, social, political and cultural influences on the determination of such national policies and strategies. Different approaches to developing human capital are discussed for different sectors: state-owned enterprises (SOEs) and private-owned business.