Investing in human capital constitutes the intrinsic driving force for the advancement of material productive forces, a necessary means for population production and reproduction, and a critical component of achieving the objectives of socialist production and fostering the free and full development of individuals. Under the conditions of a socialist market economy, “ investing in human capital” and the realization of common prosperity are intrinsically unified. “ Investing in human capital ” enhances production efficiency, thereby accelerating the growth of social wealth. It also expands consumption, stimulates investment to meet higher-level needs, and facilitates labor reproduction, thereby creating conditions for promoting common prosperity for all people. To implement the concept of investing in human capital, we should focus on continuously satisfying the people’s aspirations for a better life. This involves formulating and refining economic development indicators centered on “ investing in human capital,” deepening reform of the income distribution system, and steadily improving the livelihood security system. In terms of investment pathways, we need to optimize the investment structure by increasing allocations to science and technology, education and training, livelihoods, and public social consumption. Regarding reform measures, we must coordinate the expansion of domestic demand with the deepening of supply-side structural reforms, adjust the structure of public investment to ensure the stability and sustainability of human capital investment, promote the upgrading of consumption structures, and unlock the consumption potential of China’s super-large economy.