On November 8-10, 2024, the 21st Annual Meeting of the Chinese Society of Finance was successfully held in South China University of Technology. A total of 1183 Chinese and English papers were submitted. The paper "Monetary Policy, Real Cost Channel, and Expectation-Driven Liquidity Traps" independently written by Nie He, a young teacher of our college, stood out from the 1183 papers. Won the only first prize of this annual meeting and was invited to the conference podium to preach papers.

Nie He reports on his award-winning paper, "Monetary Policy, Real Cost Channel, and Expectation-Driven Liquidity Traps", which explores how the real cost channel influences the expectations-driven liquidity trap in a new Keynesian framework. He found that in a zero lower bound environment, the existence of a real cost channel makes an expectation-driven liquidity trap less likely, because it reduces deflationary expectations by affecting the effective slope of the Phillips curve. This paper provides a new perspective for understanding the role of monetary policy at the zero lower bound.

Professor Hu Jinyan, Secretary of the Party Committee of Qingdao University, and Professor Lin Chen, Associate Vice President of the University of Hong Kong, presented the first prize of the best paper at the annual meeting

The Chinese Society of Finance, founded in August 1950, is the largest mass academic group in China studying financial science at home and abroad. The Annual Meeting of China Finance is the highest level of the national finance discipline and held once a year since 2004, attracting many senior scholars and students of finance and other related majors to attend.

（Correspondent: Wen Hui; Editor: Huang Minxue）