Gender equity and women's full development are important symbols of social civilization and progress, as also implied in the high-quality population development. Based on the data of national population censuses in China, this paper systematically analyzes the female population development since the foundation of the People's Republic of China, emphatically discusses the main issues and challenges encountered, and puts forward to countermeasures promoting a high-quality development of both female and the entire population. We find that during the past several decades, especially since the reform and opening up, the proportion of female population in the total population has shown an upward trend, which has contributed to promote a balanced gender structure. Women's human capital improves progressively, providing important human resources for economic and social development. Recently, marrying later, having children later, and having fewer children have become the main choices for young women. In addition, the female population at reproductive ages in China has begun to decline since 2010, and gender imbalance remains prominent in the population. The employment rate continues to decline for females, and the human capital of rural women is rather low. The population of female elderly continues to increase, with increasingly prominent demands for old-age supporting. Therefore, to promote a high-quality development of female population, it is imperative to create a family-friendly environment for marriage and childbirth, tap into the potential of female human resources and improve the human capital of rural women, prepare for the old-age supporting with a gendered perspective, and promote a full development of all females.