On the morning of August 12, Fan Gang, vice president of the China Economic System Reform Research Association and director of the National Economic Research Institute, delivered an economic speech at the 2026 Boao Real Estate Forum. Fan Gang said that the Chinese economy is undergoing a structural adjustment that is more in line with the rules of the market economy. The real estate market has already seen a relatively rapid price clean-up, and the process of bottoming out may be faster than in Japan back then. “The Chinese economy is at a new stage of development that is more market-based and more in line with the rules.”

On the morning of August 12, Fan Gang, vice president of the China Economic System Reform Research Association and director of the National Economic Research Institute, delivered an economic speech at the 2026 Boao Real Estate Forum. Fan Gang said that the Chinese economy is undergoing a structural adjustment that is more in line with the rules of the market economy. The real estate market has already seen a relatively rapid price clean-up, and the process of bottoming out may be faster than in Japan back then. “The Chinese economy is at a new stage of development that is more market-based and more in line with the rules.”