Restructure 'urgent' as population benefit ebbs

HAIKOU - China is likely to lose its demographic dividend in the next five to six years, but the country can make up for it by restructuring its economy to drive growth, experts said.

"Rising costs have added urgency to the need for China's economic transition," said Lu Zhongyuan, vice-minister of the Development Research Center of the State Council, China's Cabinet.

As labor costs continue to rise, China may lose its demographic dividend gradually over the next "five or six" years, Lu said in a speech at a two-day international forum in Haikou, Hainan province, on Sunday.