Influence of the income level of the rural population on the formation of human capital in rural areas of China

The population of rural areas in China is almost half of the total population of the country. In this regard, the development of human capital in rural areas is one of the key tasks for achieving the goals of the current domestic policy aimed at sustainable social development and the growth of the welfare of rural residents. The novelty of the study is determined by the use of statistical methods to analyze the relationship between income level and human capital development in China. The results show that the level of financial well-being of population living in rural areas of China is one of the main factors of human capital development. As rural residents' income increases, their expenditure on education increases, citizens acquire new competences, including knowledge competences, and the development of rural human capital becomes a natural consequence of this.