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

Abstract ■ Fan Yang is a Research Staff & International Visiting PhD Student-Scholar in the Center for Real Estate (CRE) of Massachusetts Institute of Technology (MIT) and a PhD in the School of Architecture and Arts (SAA) at University of Technology (DUT), majoring in Urban Studies, Design and Planning & Real Estate, Urban Economics and Finance. His research includes urban planning evaluation, sustainable urban studies, real estate data analysis & methodology establishment, economics & finance in the housing market, city space regeneration, and sustainable development of real estate and global urbanization. He has published 13 research papers, and won 2 international academic awards and 5 national scientific prizes. ■ Fan has studied in over 10 different countries and regions, including the US, Russia, Japan, Switzerland, France, Italy, and Korea as part of different international activities and exchange programs. Fan also has 8 years of multi-cultural and diversified working experience. He has worked in universities, government agencies, NGOs, state enterprises and private companies. Furthermore, Fan has many connections with economics and finance organizations, including Switzerland’s World Economic Forum (WEF). He is a Global Shaper in WEF Global Shapers Community, a two-time participant of WEF Annual Meeting of New Champions (Tianjin, 2016 and Dalian, 2013), and a National Leader of the Greater Region Survey Team in WEF Global Young People Survey 2016. ■ Now, Fan is the Director-Consultant in student innovation and entrepreneurship of Youth League 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 the Student Union in his university, the Chairman of the Student Association in Province of China, the Head Delegate of the 2012 National Model United Nations New York Conference, and an Olympic Torch Bearer of Beijing 2008 Olympic Game.

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.

Awards ■ Excellent Paper Award of China Architecture Conference 2014 & PhD National Scholarship 2012 (Urban Design) ■ Natural Science Academic Achievement Award in Liaoning Province of China 2015 (Urban Studies, Third Prize) ■ 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) ■ Award of China College Business Plan Competition 2010 (Economics & Management, Third Prize) ■ Award of National Urban Planning Competition of Social Comprehensive Practice Report 2008 (Third Prize) ■ Award for China Top 100 & Liaoning Province Top 10 Students of the Year 2008 (As an Urban Planning Student) ■ Japan IKESHITA Scholarship 2008 (Architecture & Urban Planning) & Delegate of China Youth Convention 2008 ■ 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) ■ The Talk Show Guest in China’s College Students Online 2013 & in Liaoning Province Radio and Television 2009 ■ Two-time Participants of 2016 & 2013 World Economic Forum · Annual Meeting of New Champions ■ Leader of Greater China Survey Team 2016 ·WEF (Mainland, Taiwan, Hong Kong, & Macao) ■ Torch-Bearer of 2008 Olympic Games (Beijing) & Figure in 2013 National Journal of “CHINA PROFILES”

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Education 9/2016-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 9/2012-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 9/2009-7/2012, Master's Degree, Dalian University of Technology Field: City Design. Thesis: Space Regeneration of Central Blocks in Beijing Olympic Park 9/2004-7/2009, Bachelor's Degree, Dalian University of Technology Field: Urban Planning. Graduation Design: Conceptual Master Plan of BPO Base in Dalian

Work & Internship 6/2016 - 12/2016, Leader of Greater China Survey Team & Chinese Translation Team, GSC Annual Survey 2016 9/2015, Project Manager of Volunteer & Logistics Service, Global Shapers Summit ‘SHAPE China 2015’ 5/2014, A Member of Future Leader Programs, Country Garden Holdings of Real Estate, China 6-7/2013, Youth Representative, Europe Visiting and Study Program, France & Switzerland & Italy 4/2012-2/2013, Deputy Secretary and Project Manager, Youth Committee, Zhanqian , City 6/2012, Youth Ambassador & Speech-maker, International Youth Conference, Vladivostok, Russia 4/2012, Head Delegate, National Model United Nations Conference, New York, USA 7-8/2011, Traineeship, Taiwan Eisenhower Youth Leadership Association, Taiwan 7-8/2010, Manager Assistant, China State Construction International Holdings Limited, Hong Kong 5/2008-8/2009, President and Project Director, Student Union of Liaoning Province, China 4/2008, Intern & Project Assistant, Liaoning Urban & Rural Construction & Planning Design Institute 2/2008, Exchange Student, Josai International University, Tokyo, Japan 8/2007, Trainee, China Executive Leadership Academy, Jinggangshan (CELAJ)

Recent Works ■ 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-shanghai-june-0 Now Fan Yang is assisting and working in an MIT Real Estate Research Team, which includes 3 MIT Professors, 1 MIT PhD fellow and him, across different majors, fields and backgrounds. The team studies the Dynamics of Real Estate Development and is committed to improving the state of the real estate and urban economy & finance, focusing on the issues of China and US. The project is seed-funded by the Samuel Tak Lee MIT Real Estate Entrepreneurship Lab (STL Lab), which focuses 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 current conditions and future trends in real estate. In this team, Fan collects, synthesizes and analyzes real estate data and also arranges the research logistics and project networking between China and America. He is working with an MIT PhD fellow in exploring China’s real estate issues to develop the System Dynamic Model - a methodology, mechanism and strategy to positively influence the practical housing market. Based on their analysis and the model establishment & practice, the team has published several papers in reputed journals and international conferences. The project has created a strong relationship between academic and industrial institutions in China and the US, and is also becoming one of the most important research projects in the 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 joined the Global Shapers Annual Survey 2016, which was launched and sponsored by Global Shapers Community of World Economic Forum. As the Leader of the Greater China Region Survey Team, he displayed outstanding leadership and teamwork skills to lead China‘s Survey Team to place first across all survey affiliates across the world. He successfully mobilized over 3,000 Chinese young

2 / 6 people to join the survey and has made a great and positive influence among Chinese youth. After that, Fan also spearheaded a small team to translate the whole Annual Survey Report into Chinese. Recently he summarized all his experiences and mobilization skills into a 12-page Survey Summary Report for future affiliate leaders to refer to. 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 organization, mobilization and cooperation. Today, Fan is still highly active and closely involved with international economic events and public service activities. He is maintaining and developing close relations with the World Economic Forum, diversified organizations, 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, Guangzhou 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 Singapore[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.

Fan Yang’s MIT Research Details *The research develops a model for the dynamics of China’s urban housing market that accounts for the particular way

3 / 6 land is controlled and sold. It has two special features: first, it uses system dynamics (SD) model 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 traditional urban economic approaches (i.e. DiPasquale-Wheaton model) to incorporate features that do not exist in conventional markets where the market economy dominates, such as in the US and Europe. The research develops an approach to explore situations of China, where the political economy and other non-conventional characteristics play a predominant role. Overall, the research develops a canonical model for exploring such markets. Specifically, the new SD model incorporates Chinese policies such as the “land financing scheme" and “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 and government policy makers better and further understand, analyze, predict and improve the conditions and issues in Chinese housing markets and urban sustainable development.

4 / 6 ■ 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 Selected Pictures

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 Staff & International Visiting PhD Student-Scholar in the MIT Center for Real Estate Sweden Conference Participant, with Mr. Bengt Holmström - the MIT Winner of the Nobel Prize in Economics 2016

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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