CV / April 2017 / Fan Yang, [email protected], https://mitcre.mit.edu/fan-yang

Abstract & Summary: Fan Yang now is an MIT Research Staff & International Visiting PhD Student-Scholar in Center for Real Estate (CRE) of Massachusetts Institute of Technology (MIT) and a PhD in School of Architecture and Arts (SAA) from Dalian University of Technology (DUT), majoring in Urban Studies, Design and Planning & Real Estate, Urban Economics and Finance. His research mainly focuses on urban planning evaluation, sustainable urban studies, real estate data analysis & methodology establishment, economics & finance on housing market, city space regeneration, and sustainable development of real estate and global urbanization. He has published 13 research papers, won 2 international academic awards and 5 national scientific prizes. Fan has many international academic experiences. As exchange student and visiting scholar, he has been in over 10 different countries and regions, including US, Russia, Japan, Switzerland, France, Italy, Korea and other related places to join and involve in different international activities and exchange programs. Besides, Fan has 8 years of multi- cultural and diversified working experience. He has worked in many different kinds of organizations, including universities, government, NGO, state enterprises and private companies. Furthermore, Fan also has much connection with economics and finance organizations, such as Switzerland World Economic Forum (WEF). He is a Global Shaper in WEF Global Shapers Community, twice Participants of 2016 (Tianjin) and 2013 (Dalian) WEF Annual Meeting of New Champions, a National Leader of Greater China Region Survey Team in WEF Global Young People Survey 2016, and the Event Organizer and Project Manager of WEF China International Young People Summit 2015, etc. Now Fan is the Director- Consultant of Youth League in charge of students’ innovation and entrepreneurship in his university and a Co-founder and Partner of Dalian Weishi Technology & Culture Consulting Co., Ltd. In addition, Fan used to be the President of Student Union in his university, the Chairman of Student Association in Liaoning Province of China, the Head Delegate of 2012 National Model United Nations New York Conference, and an Olympic Torch Bearer of 2008 Olympic Game, etc.

Current Posts: ■ MIT International Visiting PhD Student-Scholar & Research Employee & Publicity and Networking Project Manager, Center for Real Estate (CRE), Samuel Tak Lee MIT Real Estate Entrepreneurship Lab (STL Lab), Department of Urban Study and Planning (DUSP), School of Architecture and Planning (SA+P), MIT. ■ Co-founder and Partner, Dalian Weishi Technology & Culture Consulting Co., Ltd. ■ Director-Consultant & PhD, Department of Innovation and Entrepreneurship in Youth League & School of Architecture and Fine Arts, Dalian University of Technology.

Some Awards & Honor: Torch-Bearer of 2008 Olympic Games (Beijing) & Figure in 2013 National Journal of “CHINA PROFILES” Twice Participants of 2016 & 2013 World Economic Forum · Annual Meeting of New Champions Leader of Greater China Survey Team 2016 ·WEF (Mainland, , , & Macao) Excellent Paper Award of China Architecture Conference 2014 & PhD National Scholarship 2012 (Urban Design) Award of National College Scientific Work Competition 2011 (Architecture & Urban Planning, Second Prize) Award of National College Urban and Landscape Design Competition 2010 (Third Prize) Natural Science Academic Achievement Award in Liaoning Province of China 2015 (Urban Studies, Third Prize) Award of China College Business Plan Competition 2010 (Economics & Management, Third Prize) Japan IKESHITA Scholarship 2008 (Architecture & Urban Planning) & Delegate of China Youth Convention 2008 Award of National Urban Planning Competition of Social Comprehensive Practice Report 2008 (Third Prize) Distinguished Head Delegate of America Model United Nations · New York Conference 2012 Youth Ambassador & Excellent Paper Award of Russia International Youth · Vladivostok Conference 2012 China Outstanding Student Leader 2010 (As Student Union President in Liaoning Province of China) Excellent Aerobics Performance of China International Volleyball Tournament (Shown on China Central Television) Award for China Top 100 & Liaoning Province Top 10 Students of the Year 2008 (As an Urban Planning Student) The Talk Show Guest in China’s College Students Online 2013 & in Liaoning Province Radio and Television 2009

1 / 6 Education Background: 2016.9-present, Visiting PhD Student-Scholar & Research Staff, CRE, SA+P, MIT Field: Real Estate and Sustainable Urbanization. Research Focus: Dynamics of Real Estate Development - SD Model 2012.9-present, Director-Consultant & PhD, Architecture and Arts School, Dalian University of Technology Field: Urban Studies and Architecture. Dissertation: Strategic Planning Evaluation on Cities and Projects 2009.9-2012.7, Master's Degree, Dalian University of Technology Field: City Design. Thesis: Space Regeneration of Central Blocks in Beijing Olympic Park 2004.9-2009.7, Bachelor's Degree, Dalian University of Technology Field: Urban Planning. Graduation Design: Conceptual Master Plan of BPO Base in Dalian

Work & Internship Experience: 2016.6-12, Leader of Greater China Survey Team & Chinese Translation Team, GSC Annual Survey 2016 2015.9, Project Manager of Volunteer & Logistics Service, Global Shapers Summit ‘SHAPE China 2015’ 2014.5, A Member of Future Leader Programs, Country Garden Holdings of Real Estate, China 2013.6-7, Youth Representative, Europe Visiting and Study Program, France & Switzerland & Italy 2012.4-2013.2, Deputy Secretary and Project Manager, Youth Committee, Zhanqian District, Yingkou City 2012.6, Youth Ambassador & Speech-maker, International Youth Conference, Vladivostok, Russia 2012.4, Head Delegate, National Model United Nations Conference, New York, USA 2011.7-8, Traineeship, Taiwan Eisenhower Youth Leadership Association, Taiwan 2010.7-8, Manager Assistant, China State Construction International Holdings Limited, Hong Kong 2008.5-2009.8, President and Project Director, Student Union of Liaoning Province, China 2008.4, Intern & Project Assistant, Liaoning Urban & Rural Construction & Planning Design Institute 2008.2, Exchange Student, Josai International University, Tokyo, Japan 2007.8, Trainee, China Executive Leadership Academy, Jinggangshan (CELAJ)

Recent Work & Achievements: ■ MIT – System Dynamic Model of Real Estate in China and America Housing Market 2016-2017 https://stl.mit.edu/project/dynamics-real-estate-development-china-theory-and-education https://stl.mit.edu/news/dynamics-real-estate-development-mit-professors-lecture-beijing-and--june-0 Now Fan Yang is assisting and working in a particular MIT Real Estate Research Team, which includes 3 MIT Professors, 1 MIT PhD fellow and him, across different majors, fields and backgrounds to study on the Dynamics of Real Estate Development and be committed to improving the state of the real estate and urban economy & finance, especially focusing on the issues of China and US. The project they study is a seed funding program from the Samuel Tak Lee MIT Real Estate Entrepreneurship Lab (STL Lab), which is focusing on China’s real estate and urbanization current issues and sustainable development. Based on the data analysis and model establishment, he gives support to the team members to make a Systematic Dynamic Model to analyze, summarize, predict and influence the real estate current conditions and future trends. In this team, Fan assists the MIT Professors to collect, synthesize and analyze the data and index of real estate and also arrange the research logistics and project networking between China and America. And he is working with the MIT PhD fellow to take in charge of studying and exploring China’s issues to make the System Dynamic Model -a methodology, mechanism and strategy to better influence and positively develop the practical housing market. Based on their data synthesis & analysis and the model establishment & practice, the team has published several papers in reputed journals and international conferences. And the Project has got strong relationship with both academic and industrial fields in China and US, which also becomes one of the most important research projects in Center for Real Estate and STL Lab of MIT. ■ World Economic Forum - Global Shapers Annual Survey 2016 http://shaperssurvey.org/data/report.pdf As one of the key Affiliate Leaders, Mobilization Organizers and Survey Translators, Fan has joined the Global Shapers Annual Survey 2016, which was launched and sponsored by Global Shapers Community of World Economic Forum. In this survey, Fan became the Leader of Greater China Region Survey Team, made great effort and played a particular role. With outstanding leadership and excellent teamwork, Fan led the China Survey Team to achieve top 1 of all survey affiliates

2 / 6 across the world, which successfully mobilized and motivated over 3,000 Chinese young people joining the survey and has made great and positive influence among the young people. After that, Fan also organized a small translation team taking almost 2 months to translate the whole Annual Survey Report into Chinese version. And recently he concluded and summarized all his experience and skills of Survey Mobilization into a 12-page Survey Summary Report for all the new affiliate leaders to check and refer to. Now the Survey Report including the Chinese Version has been well published and widely spread all over the world and his Survey Summary Report has been posted and recommended on the TopLink of World Economic Forum. Fan and his team were highly acknowledged by Global Shapers Community for their effective and efficient work of organization, mobilization and cooperation. Now Fan is still highly active and closely involved in the international economic events and public service activities. He is keeping and developing strong and close relations and connections with the World Economic Forum, with different and diversified organizations and people from academic institutes, local governments, industrial corporations and business entrepreneurs all over the world.

Publications: [1] YANG Fan, Hui SUN. The Mode and Mechanism Study of GIS on the Evaluation of Urban Planning Implementation[J]. City Planning Review, 2016, 10. [2] YANG Fan, Hui SUN, Shuai WANG. The Mode Study of Implementation Evaluation on Urban Planning in China Based on GIS -Case Studies on Beijing, and Tianjin[J]. Planners, 2016, 6: 20-24. [3] YANG Fan, Hui SUN, Wei ZHANG. Study on the Evaluation of Master Planning Implementation in China -Case Studies on Beijing, Guangzhou and Changsha[A]. Proceedings of the 15th NIoNC International Scientific Conference[C]. Khabarovsk, 2015. [4] YANG Fan, Hui SUN. Study on Evaluation Mode of Urban Strategic Planning -Case Studies on Global Metropolises of Hong Kong, New York and [J]. Architectural Journal, 2014, 12: 27-31. [5] YANG Fan, Hui SUN, Ranyi HAN. Study of the Evaluation on Strategic Plan of Tokyo 2020[J]. Urbanism and Architecture, 2014, 152(9): 26-27. [6] YANG Fan, Hui SUN. Implementation Mode Study of Construction and Urban Planning in Hong Kong Based on Environmental Impact Assessment -Taking Examples of “HK Construction of Hong Kong-Zhuhai-Macau Bridge” and “Hong Kong 2030: Planning Vision and Strategy”[A]. Proceedings of the 2014 Annual Meeting of Architectural Society of China[C]. Beijing: China City Press, 2014: 33-41. [7] YANG Fan, Jiang LIANG. Problems and Solutions to the Land Reclamation Management of Dalian from Perspective of Planning Evaluation[A]. Proceedings of the 13th NIoNC International Scientific Conference[C]. Khabarovsk, 2013. [8] YANG Fan, Ranyi HAN, Hui SUN. Intention • Question • Solution -Research on China’s Reclamation Condition and A Case of Japan’s Reclamation Management Based on the Environmental Impact Assessment[A]. Proceedings of the 2012 Vladivostok International Youth Conference (Architecture)[C]. Vladivostok, 2012. [9] YANG Fan. Space Regeneration of Central Blocks in Beijing Olympic Park[D]. Dalian: Dalian University of Technology, 2012: 1-103. [10] YANG Fan, Ranyi HAN, Yuejia XU. From “Space of Consumption” to “Consumption of Space” -Conceptual Design of Future Commercial Complex Based on Experiential Space Consumption Theory[A]. Proceedings of the 2011 International Symposium on Fusion Tech[C]. Dalian, 2011. [11] YANG Fan, Yuejia XU, Ranyi HAN, Hui SUN. Conceptual Design for Space Renewal and Regeneration of Beijing Olympic Park[A]. Proceedings of the 9th National Annual Meeting of Postgraduates in Architecture & Urban Planning[C]. Hefei: Hefei University of Technology Press, 2011: 328-333. [12] YANG Fan, Bo ZHOU, Yuejia XU, Ranyi HAN. Environment-behavior Research on Urban Sunken Square -A Case of the Chinese Garden in the Central Area of Olympic Green[A]. Proceedings of the 9th International Symposium for Environment-behavior Studies[C]. Harbin: Harbin Institute of Technology Press, 2010: 713-716. [13] LIANG Jiang, Fan YANG. Urban Neighborhood Planning and Design Based on Sustainable Development: Analysis of the Winning Projects of the International Architecture Competition for Stockholm’s Nya Årstafältet Neighborhood in Sweden[J]. Modern Urban Research, 2010, 9: 48-55.

3 / 6 Fan Yang’s MIT Research Details: *The research develops a model of the dynamics of China’s urban housing market that accounts for the particular way land is controlled and sold. It basically has two special features. First, it uses the system dynamics (SD) technique to focus on the dynamic features of the system, especially the potential virtuous and vicious cycles that can accelerate and rapidly burst market bubbles. Second, it expands on the traditional urban economic approaches (such as the DiPasquale-Wheaton model) to incorporate features that do not exist in conventional markets where market economy dominates, such as in US and Europe. The research develops an approach to explore situations of China, where political economy and other non- conventional characteristics play a predominant role. Overall, the research develops a template, a canonical model, for exploring such markets. Specifically, the new SD model incorporates important special features such as “land financing scheme", “speculative investment” of the current Chinese market. It is then used to analyze potential dysfunctional features of the current housing market in China, and to suggest policy implications for possible corrective actions.

■ At MIT, Fan Yang’s research focuses on urban studies and the sustainable development of real estate. He is an important member of a real-estate-research group headed up by Professor David Geltner (https://mitcre.mit.edu/david-geltner), Professor Richard de Neufville (https://idss.mit.edu/staff/richard-de-neufville), Professor Siqi Zheng (https://dusp.mit.edu/faculty/siqi-zheng) and Dr. Xin Zhang. And his direct supervisor is Professor David Geltner, the Research Director (former Center Director 2003-08) of MIT Center for Real Estate. Their research is on “Dynamics of Real Estate Development”, which is sponsored by MIT Center for Real Estate (CRE) and Samuel Tak Lee MIT Real Estate Entrepreneurship Lab (STL Lab). Their research is additionally supported by the China’s Hang Lung Center for Real Estate of Tsinghua University, the School of Public Economics and Administration of Shanghai University of Finance and Economics, and other related academic organizations, industrial corporations, and real estate developers both in America and China. ■ In the research group, Fan is working as the research assistant, logistics connector, and networking manager. Fan is working on the project to emphasize how dynamics in China differ from those in liberal market economies in North America and Europe, and suggesting policies to avoid potential market failures or collapse. He is analyzing and exploring the importance of acknowledging the dynamics of real estate, of understanding how special administrative features drive these dynamics in China, and of appreciating the issues in maintaining stability in the market prices. Fan is supporting and working with the group to develop a real estate analytical methodology and practical teaching tool based upon a systems dynamics model of urban housing markets both for academic scholars and industrial developers. ■ Based on Dynamics of Real Estate Development, Fan Yang’s research mainly consists of three parts: Uncertainty in Practice (Quantifying Future Value Uncertainty in Development Projects of Real Estate), Flexibility in Design (Flexibility in Design in Real Estate Projects), and Methodology in Dynamics (Develop a System Dynamics Perspective on Chinese Urban Housing Market). The “Uncertainty” Part mainly studies on how the real estate markets function in Western countries under a market economy, emphasizing their fluctuations over time. It demonstrates how to analyze these fluctuations to understand the eight most important types of uncertainties that influence these variations in market prices. It also shows with a demonstration of how real estate analysts and developers can model these uncertainties using Spreadsheets (such as Excel), which provide the basis for valuing real estate properties. ■ The “Flexibility” Part mainly presents the concepts of flexibility and “real options.” The idea is to maximize the expected value of development projects by using options to avoid losses when the markets go bad, while increasing benefits when the market is good. The research shows how to identify and benefit from flexibility, building upon a case study from China, the “Dushi Huayuan” Housing Development Project, and help developers and policy makers learn about using flexibility to increase expected value, which will increase their ability to develop real estate projects successfully. ■ Based on the previous two Parts research, the third one “Methodology” Part studies on the dynamics of Chinese real estate markets. It explores such question as: What happens when the Government changes policies regarding home purchase or land leasehold sales? To gain insight on the possible effects of policy interventions, the research provides a useful “systems” perspective and shows how to model and analyze the housing market in a typical Chinese city using system dynamics simulation of the market, including elements of the system that are unique or prominent in China. Computer models can represent the major elements in the housing market and the major linkages and dynamic relationships between them. So, the System Dynamic Model (SD Model) is established and it will support and help real estate developers

4 / 6 and government policy makers better and further understand, analyze, predict and improve the conditions and issues in Chinese housing markets and urban sustainable development. ■ For further research progress, international academic communication and practical testing application in the field of real estate and urban studies, the research group will go to China this summer in June to give lectures and share their recent research achievements on “Dynamics of Real Estate Development” (https://stl.mit.edu/news/dynamics-real-estate- development-mit-professors-lecture-beijing-and-shanghai-june-0). The lectures and communication events will take place both in Beijing and Shanghai and will be given separately for industrial developers and academic audience. In the whole process, Fan Yang is the key research assistant and project manager, to organize the events, make the research and logistics schedules, arrange the presentations, disseminate the lecture information, collect and manage the data and issues, and establish relationship and develop networking for future cooperation and collaboration among MIT and other related academic institutes, industry corporations, local government, economics and financial organizations in China and US.

System Dynamics (SD) models is a tool to help Chinese policy makers, industrial developers and local residents better analyze and improve the state of real estate in China. SD models can

Quantifying Future Value Uncertainty in Development Projects of Real Estate provide intuitive and transparent models that can improve pedagogy for educating people in emerging markets. SD models can more easily accommodate non-market features and unique institutional components of China

Flexibility in Design in Real Estate Projects actual real estate markets. And SD models are oriented toward modeling market transitions toward long-run equilibria, facilitating the study of the dynamic path the market follows and which dominates the real history of

Develop a System Dynamics Perspective on Chinese Urban Housing Market China housing markets.

5 / 6 Some Proof Pictures of CV:

Torch-Bearer of 2008 Olympic Games (Beijing) / Participant of 2016 WEF Annual Meeting of New Champions, with Mr. Klaus Schwab -the Founder and Executive Chairman of the World Economic Forum

MIT Research Employee & International Visiting PhD Student-Scholar of MIT Center for Real Estate, https://mitcre.mit.edu/fan-yang, & Project Manager of Samuel Tak Lee MIT Real Estate Entrepreneurship Lab https://stl.mit.edu/news/dynamics-real-estate-development-mit-professors-lecture-beijing-and-shanghai-june-0

Real Estate: A System Dynamic Model to help developers and policy makers analyze and solve China’s real estate issues Urban Studies: A Methodology of Space-Behavior Organization on Economics, Environment, Society and Sustainability

Representative of Greater China Region Survey Team in WEF Global Young People Annual Survey 2016 & Presentation at the Press Conference / Distinguished Head Delegate of America Model United Nations · New York Conference 2012

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