On 2nd December, 2015, Prof. Li Gan, professor of Texas A&M University and director of China Household Finance Survey, was invited by IESR to give a lecture on “Puzzles of Vacancy Rates of Private Housing in China”. This was the first public lecture since the foundation of IESR. During the lecture, Prof. Gan briefly introduced the China Household Finance Survey (CHFS) project. He then presented his recent research on Vacancy Rates of Private Housing in China, which bases on data of China Household Finance Survey.