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In less than 40 years of reform and opening up, China's economy has undergone earth-shaking changes, with nominal GDP increasing by more than 200 times, and real GDP increasing by more than 30 times excluding price factors. Throughout human history, China's economy has grown at an unprecedented rate, overshadowing countless sophisticated growth theories. By 2016, China had become the world's second largest economy, with a GDP of nearly 75 trillion yuan, but it still ranked first in the world, surprising many economists. In China's economic growth miracle, the huge changes in the labor market have undoubtedly played a very important role. Among them, compared with the vigorous market-oriented reform of state-owned enterprise employees in those years, China's agricultural labor transfer is larger, longer and more far-reaching, but it has not received due attention and research. In 2016, the total number of migrant workers in China has exceeded 280 million, accounting for 36.3% of China's total employment population and 68.1% of urban employment. To a large extent, it can be said that the role of this group in China's economic development has only been superficially understood by the academic circles. This does not only refer to the social treatment they enjoy in cities, but even many academic studies have assumed or believed, to varying degrees, that they only provide cheap labor factors for the industrial development of the urban sector. This is especially true of the lack of awareness, which is even reluctant to open up the basic citizenship benefits that this group should enjoy in recent years, even in the face of the slowdown in the migration of agricultural labor in recent years. Whatever the reason, a serious underestimation of their role and contribution to urban development is certainly one of the reasons. This book aims to show that the role of agricultural labor transfer in China's economic development is not just about providing labor for the urban sector. The continuous and large-scale transfer of agricultural labor to cities has not only changed the fundamental characteristics of China's labor market, but also has a profound impact on China's investment, savings, technological progress and economic cycle fluctuations, and has played an important and special role in the rapid development of non-agricultural industries. In order to illustrate this point, this book first systematically sorts out the three most important characteristic facts of China's economic development, involving China's investment, savings and economic growth, and summarizes them as the mystery of China's rising return on capital, the mystery of China's rising savings rate, and the mystery of China's discomfort with the "Odin Law". Solving these three mysteries is the key to understanding China's economic development model. Through theoretical and empirical analysis, this book comprehensively explains the above three development puzzles from the perspective of agricultural labor transfer. An important practical corollary of this book is that the impact of the current slowdown or even stagnation of agricultural labor migration on China's economy is by no means marginal but also directional. If faster economic growth is to continue at both the national and city levels, it would be wise to do more to facilitate the transfer of agricultural labor. This is not only out of fairness considerations, but also for the contribution of migrant workers to urban construction, but also for the development of the city itself. is the order. Liu Xiaoguang at the NPC Research Building in January 2017（AI翻译）
