Measurement of China's Human Development Index and Analysis of Its Influencing Factors from the Perspective of New Development Concept

This paper redefines the connotation of China's human development in the context of the new development concept and high-quality development, and constructs the China Human Development Index (CHDI) indicator system accordingly. Then, based on the inequality adjustment model and DFA model, the human development level of each region in China from 1990 to 2018 is measured, and the spatial and temporal evolution characteristics of China's CHDI and the current situation of regional imbalance are analyzed accordingly. Finally, LMDI decomposition technique and spatial econometric model were used to study the influencing factors of China's human development index. The results show that: (1) The weights of the CHDI sub-index estimated by the DFA model have good stability, and it is a relatively good objective weighting method. (2) Compared with the HDI, the CHDI in this paper can better reflect the level of human development in China. (3) China's human development has made great achievements and has basically achieved the leap from the low human development level group to the high human development level group. However, there are still significant gaps between regions. (4) From the results of LMDI decomposition, the livelihood index is the most important driving index of CHDI growth in each region. From the results of spatial econometric regressions, there is a strong spatial autocorrelation of China's CHDI among the 31 provinces. GDP per capita, financial education expenditure per capita, urbanization rate, and financial health expenditure per capita are the main influencing factors of CHDI. Based on the above research findings, this paper proposes a scientific and effective macroeconomic policy with important reference value for promoting the high-quality development of China's economy and society.