The 2024 China Finance Research Conference was held at the PBC School of Finance, Tsinghua University.

The 2024 China Financial Research Conference (CFRC 2024) was held at the Tsinghua University School of Finance and Economics, also known as Tsinghua PBC School of Finance, from July 6 to July 7. This annual event, co-organized by the Tsinghua University School of Finance and Economics and the Tsinghua National Institute of Financial Research, brought together academics, researchers, and industry professionals to discuss and exchange the latest research findings in various areas of finance and economics, particularly focusing on issues pertinent to China. ### Key Events and Participants The conference received a total of 894 academic paper submissions from around the world, spanning a wide array of topics including asset pricing, corporate finance, behavioral finance, macroeconomics, monetary policy, entrepreneurial financing, analyst forecasts, real estate markets, environmental, social, and governance (ESG) issues, household finance, labor finance, fintech, information and financial theory, digital economy, banking and financial fragility, investor behavior, financial markets, fixed income, and currencies. After a rigorous review process by a committee of 79 renowned scholars, 72 papers were selected for presentation, resulting in an acceptance rate of approximately 8%. ### Opening Remarks Jiao Jie, the Chief Financial Officer of Tsinghua University and Dean of the Tsinghua PBC School of Finance, delivered the opening remarks. He emphasized the importance of advancing academic research and cutting-edge discussions on Chinese financial issues to promote high-quality financial development. Jiao highlighted that the conference serves not only as a platform for academic exchange but also as a crucial opportunity to drive financial reforms and development in China, contributing to the modernization of the financial system and fostering financial innovation. ### Keynote Speech Professor Shang-Jin Wei, the N.T. Wang Professor of Chinese Business and Economy at Columbia University's Graduate School of Business and School of International and Public Affairs, delivered the keynote speech titled "Cost of Capital Market Distortions to Entrepreneurs: Evidence from IPO Locational Choices." His presentation explored the impact of capital market distortions on entrepreneurs, providing evidence from the choices made for initial public offerings (IPOs). ### Awards and Honors The conference featured four award categories to recognize outstanding contributions in the field of financial research: 1. **Best Asset Pricing Paper Award**: "Earnings Management and Price Informativeness" by Zhiguo He, Wenxi Jiang, and Wei Xiong. 2. **Best Corporate Finance Paper Award**: "Learning by Investing: Entrepreneurial Spillovers from Venture Capital" by Josh Lerner, Jinlin Li, and Tong Liu. 3. **Best Behavioral Finance Paper Award**: "Social Transmission Bias: Evidence from an Online Investor Platform" by Pengfei Sui and Baolian Wang. 4. **China Financial Research Network Young Scholar Best Paper Award**: "In Victory or Defeat: Consumption Responses to Wealth Shocks" by Alex Imas, Tse-Chun Lin, Yan Luo, and Xiaohuan Wang. These awards were presented during a ceremony chaired by Tian Xuan, Deputy Dean and Chair Professor of Finance at the Tsinghua PBC School of Finance, and President of the Tsinghua National Institute of Financial Research. ### Conference Overview The China Financial Research Conference (CFRC) was first initiated in 2016 by the Tsinghua University School of Finance and Economics and the Tsinghua National Institute of Financial Research. Over the past eight years, it has established itself as a premier platform for fostering academic dialogue and research on Chinese financial issues. The conference aims to encourage in-depth studies and discussions, thereby contributing to the global understanding and stability of financial markets. ### Significance and Impact The 2024 CFRC provided a unique opportunity for participants to engage in comprehensive and multi-faceted discussions, addressing a wide range of financial topics. By bringing together leading scholars and practitioners, the conference facilitated the sharing of innovative ideas and research findings, which are essential for understanding and solving complex financial challenges in China. The event underscored the commitment of Tsinghua University to advancing financial education and research, aligning with the broader goals of promoting economic and financial stability both nationally and internationally. ### Conclusion The 2024 China Financial Research Conference was a significant milestone in the academic and professional finance community. It not only highlighted the latest research in various financial domains but also recognized the contributions of young and established scholars. The conference's emphasis on China's financial issues and its global perspective made it a valuable forum for advancing financial knowledge and policy. The event's success reflects the growing importance of Chinese financial research in the international academic landscape and its potential to influence global financial practices and policies.