Winners of the Sun Yefang Financial Innovation Awards pose for a photo with Wu Xiaoling, (center in dress), top judge of the awards and dean of the Tsinghua University PBC School of Finance and next to her, Li Jiange, chairman of Sun Yefang Economic Science Foundation, on July 3, 2016 in Beijing. Winners include Liao Guanmin, (first from left), Gan Li (first from right), Liu Zheng (second from right) and Liu Xiliang (between Li Jiange and Liu Zheng). [Photo provided to chinadaily.com.cn]

Three scholarly papers in English won top honors in China's Sun Yefang Financial Innovation Awards on Sunday in Beijing, which signals efforts to draw academic attention to concrete problems in the world's second economy.

The winners were Capital Controls and Optimal Chinese Monetary Policy, The Sensitivity of Corporate Cash Holdings to Corporate Governance and the Brain Gain of Corporate Boards: Evidence from China.

The paper Capital Controls and Optimal Chinese Monetary Policy is innovative as the paper studies monetary policy in a country that features capital controls, managed exchange rates and sterilized interventions, and provides suggestions to China's policymakers, said Zhou Hao, host of the award ceremony held at Tsinghua University PBC School of Finance in Beijing on Sunday.