How to Go Across the Aging Middle-income Stage? The Discussion on the Calculating and Improving Productivity

China entered the middle-income stage when facing a major demographic transition, which is a different course of development from any other country. The reduction of the working-age population and the acceleration of aging have made China face an unprecedented challenge on its way across the middle-income stage. Under such a background, how to achieve the improvement of productivity, and how to gain further economic growth in our country are the important academic topics and policy points. In this paper, according to the characteristics of the current stage of the population and the economic development in our country, we focus on the relevant concepts of productivity and the evolution of measurement methods, paying special attention to the general experience and effective ways to enhance the TFP. Research on China shows that the transformation of the dual economic structure and the convergence of the regional economy are the important sources of past productivity improvement for China. International experience shows that the enhancement of human capital, the development of factor markets and the improvement of allocation efficiency have become the effective ways to improve productivity.