Population aging and fewer children have become the basic characteristics of China's population structure, which will have a profound impact on the high-quality development of China's economy. According to the data of the seventh national population census released recently, China's population aging presents four basic characteristics: large inter provincial differences in population aging, accelerated entry into a deep aging society in the future, more serious problem of urban population aging and “getting old before getting rich”. Population aging will affect economic development in three aspects: labor supply, social capital formation and technological innovation. To cope with the aging population during the 14th Five-Year Plan period, we need to enlarge the positive effect on economic development and reduce the negative effect. We need to implement a package of policies via three paths: increasing the supply of labor force in the whole society, tapping the “second dividend” of the population, increasing the labor supply of the whole society, and increasing the “second dividend” of the population Through the overall arrangement of pension funds in different channels, we can promote the formation of social capital, and promote the upgrading of industrial structure and technological innovation by stimulating consumption.