On January 4, 2025, the 8th Postdoctoral Forum in Economics and the Annual Postdoctoral Exchange Meeting of the School of Economics, Peking University, were successfully held in Conference Room 101 of the School of Economics. The forum aimed to provide a platform for academic exchange among postdoctoral fellows, promote cross-disciplinary dialogue among young scholars, and further enhance the quality of postdoctoral training.

　　Several distinguished scholars and experts were invited, including Researcher Hu Huaiguo from the Institute of Economics, Chinese Academy of Social Sciences, Wang Rufang, Standing Committee Member and Director of the Research Office of the Jiusan Society Central Committee, Professor Li Lianfa from the Department of Finance, Professor Su Jian from the Department of Economics, and Professor Yang Rudai from the Department of International Economics and Trade at Peking University, as well as Deputy Director Zhou Jingtong from the Bank of China Research Institute, Associate Researcher Wang Guijun from the School of Economics, Beijing Institute of Technology, and Assistant Professor Li Shaoran from the Department of Finance at the School of Economics. The forum was moderated by Professor Su. Postdoctoral fellows presented their recent research achievements, followed by expert commentary and discussion.

　　Research Presentations and Highlights

　　Zheng Qianwen presented her research on the impact of long-term care insurance on household economic decisions. Using data from the China Family Panel Studies (CFPS) and a triple-difference model, she demonstrated that the policy significantly encouraged households to take on more financial risk, increase investment, borrowing, and entrepreneurship, especially among low-income households or those with heavy caregiving burdens. Her findings also suggested that long-term care insurance improved intergenerational equity and provided valuable policy insights.

　　Sun Jinping examined the relationship between local governments’ dual land-use strategies and tax revenue. Based on matched data from land transfers and listed companies, her study showed that industrial land acquisitions significantly increased corporate tax burdens, primarily via income taxes, while commercial/residential land did not. Sun’s analysis revealed that the increase in corporate tax burdens after industrial land acquisition occurred because of changes in companies’ profitability, financing options, and subsidies received.

　　Xin Wu investigated the relationship between online attention from small and medium-sized investors and corporate tax avoidance. He found that retail investors with higher online attention led to more aggressive tax strategies, driven by managerial efforts to cater to short-term shareholder preferences, especially under high equity-based incentives. This leads to opportunistic insider selling and ultimately diminishes the firm’s value in the long term.

　　Yan Yu developed a stochastic production model to evaluate the contribution of data as a factor of production under different market structures. His findings showed that SMEs tend to purchase data to enhance productivity, while large firms sell data for profit. The study recommended developing data trading markets to promote TFP growth and sustainable economic development.

　　Hu Yaolin reported on institutional changes in Traditional Chinese Medicine (TCM) based on historical research. Her team’s findings showed that state policy support was essential to the development and modernization of TCM, evolving from vague scientific understandings and strong national sentiment to science, culture, and economic-oriented governance models.

　　Zou Jianhua explored the impact of China’s bankruptcy law reform on corporate innovation. His study found that reforms positively influenced innovation through improved legal and financing environments. He advocated for continued legal optimization to foster an enterprise-led innovation system.

　　Wang Fan presented her research on the cost management of emergency supplies. Using modeling and simulations, she compared integrated and dedicated inventory strategies and found the integrated approach to be more cost-efficient and responsive.

　　He Guanxiong shared the structure and progress of his team's project on the Economic History of Asian Nations, analyzing development trajectories across several dimensions. He further examined the economic growth and current challenges of three countries, including India, Pakistan, and Israel as case studies.

　　Hu Qihang developed general equilibrium models based on product, labor, and data markets, respectively, to analyze the role of data in economic growth and labor dynamics. His findings emphasized how AI spillovers and privacy concerns impact key variables like labor supply and data pricing.

　　Cai Yuhan demonstrates that enhanced digital skills among Chinese residents significantly boost their income by analysing the China Household Digital Economy Survey. This income boost is primarily attributed to individuals handling more data-intensive tasks and actively participating in the digital economy. These findings provide valuable insights into the drivers of individual economic success in the burgeoning digital economy.

　　Wang Yujian focused on the evolution of the “local products carried with the grain transport ships” policy during the Ming and Qing dynasties within the context of the Grand Canal system and the governance of canal affairs. Wang’s research found that such policy had a limited direct impact on the market economy. Instead, it primarily enriched commodity markets and regulated regional material flows. He also emphasized the importance of understanding the specific historical context when governing canal affairs, cautioning against simplistic modern-day judgments of past events.

　　Zhang Tun examined capital outflows through volatile crypto-asset channels. His research showed evidence of the existence of the capital outflow via crypto-assets and further investigated the potential risks and challenges to China’s regulations brought by such capital outflow.

　　The postdoctoral presentations spanned diverse topics, including insurance, macroeconomics, corporate governance, data factors, economic history, economic law, emergency resource management, digital economy, and cryptocurrency. The depth and breadth of the research were widely praised by the attending experts, who encouraged postdoctoral fellows to strengthen their problem awareness, align with economic realities, and continue refining their methodologies for higher research quality.

　　Following the forum, the School held an annual exchange meeting for postdoctoral affairs, aiming to enhance communication among postdoctoral research stations and facilitate the sharing of advanced management experience. The session was chaired by Professor Song Fangxiu, Deputy Chair of the School Council.

　　Professor Zhang Hui, Dean of the School of Economics, delivered opening remarks, warmly welcoming the guests and expressing hope that representatives from partner institutions would freely exchange insights and experiences. He emphasized the value of such interactions in advancing postdoctoral training and fostering collaborative innovation.

　　Representatives from partner institutions, including Bank of China, ICBC, China Minsheng Bank Research Institute, China Cinda Asset Management, CNPC Economics & Technology Research Institute, China International Economic Consulting Co., Ltd., Minmetals Trust, and Sunshine Insurance Group, shared their experiences in managing postdoctoral research stations and expressed appreciation for the School’s collaborative platform, reaffirming their commitment to continued partnership with Peking University. Scholars in attendance emphasized the importance of aligning research with national priorities, fostering interdisciplinary collaboration, and maintaining high academic standards and a broad vision in postdoctoral training.

　　In her closing remarks, Song Fangxiu extended sincere appreciation to all guests for their continued support of the School’s postdoctoral training efforts. She also urged postdocs to focus on national needs, deeply research China's realities, and pursue innovation.