We analyze the main index of China’s economy from the point of gross supply and demand. On the whole，the economic growth and some gross index has endured a downward pressure，meanwhile quite a few indicators has been improved，which not only shows us the progress of the economic restructuring，but also reveals the directions China’s economy is heading for. Based on this analysis，we investigate into China’s economy from the perspective of labor market. Particularly we focus on the bottle neck of the transition from demographic dividend to human capital dividend. How to release the human capital dividend，it is analyzed with the background of the adjustment of industrial structure.