As the situation of the decline of the labor supply，the human capital accumulation by promoting the labor productivity can be considered as one of the effective ways to achieve the economic growth.In this paper，the utilization of capital and human capital accumulation have been introduced into the RBC model as the endogenous factors.After testing the impulse response of the major macroeconomic indicators to these two factors，we found that：the contribution of the human capital accumulation on Chinas economic take off is more significant than the contribution of capital input；Compared to the increase of capital utilization，the labor productivity improvement and the decline of per unit labor cost which can be considered as the human capital accumulation are the effective ways to lag the economic slowdown under the situation of industry transformation and upgrading in the short term.