At the first Bund financial summit, the 2018 Pu Shan World Economics Excellent Paper Award (hereinafter referred to as the “Pu Shan Award” was awarded. The cooperative paper Firm-specific Exchange Rate changes and Employment Adjustments: Evidence from China by associate professor Dai Mi and professor Xu Jianwei of BNUBS won the Youth Thesis Award of “Pu Shan Award”. Dai Mi attended the award ceremony as a representative.

Initiated by the World Economic Society of China, “Pu Shan Award” has been officially recognized as the outstanding achievement of the non-governmental department of science and technology statistics annual report (humanities and social sciences) of the Ministry of Education, which is as important as “Sun Yefang Economic Science Award” .The prize is awarded every two years to those who contributed to original academic research and policy research of the world economy, open macroeconomics, international finance, international trade, economic development and growth as well as China's foreign economic relations, which is the highest prize in the field of international economics in China.

In their award-winning paper, Dai and Xu use data of Chinese enterprises to study the impact of exchange rate shocks on employment allocation of the industry. This paper first proposes the concept of "effective exchange rate at the enterprise level" to accurately measure the exchange rate changes faced by different enterprises. It finds that export intensity, import intensity of intermediate products and distribution of trading partners can significantly affect the employment effect of exchange rate, and the importance of trading partners is roughly consistent with the degree of external dependence of enterprises. In addition, introducing heterogeneity in the distribution of trading partners will greatly increase the estimated contribution of exchange rates to intra-industry employment allocation. The analysis of this paper reminds us that when formulating exchange rate policy and monetary policy, the government should not only pay attention to the overall employment effect, but also consider the different effects on different enterprises and the consequent income distribution effect.