The devastating global financial crisis stemmed from the corruption of the U.S. property market and a wide range of financial derivatives that were devised based on home mortgages. The world’s financial institutions have been hit hard, with some going bankrupt. To avoid such financial catastrophe in the future, Fan Gang, Director of the National Economic Institute, called on business people nationwide to focus more on real industries instead of blindly pouring money into financial and service sectors. He made a speech at a forum on the global financial crisis and China’s economic development. His edited speech follows: The devastating global financial crisis stemmed from the corruption of the US property market and a wide range of financial derivatives that were devised based on home mortgages. The world’s financial institutions have been hit hard, with some going bankrupt. To avoid such financial catastrophe in the future, Fan Gang, Director of the National Economic Institute, called on business people nationwide to focus more on real industries instead of blindly pouring money into financial and service sectors. He made a speech at a forum on the global financial crisis and China’s economic development His edited speech follows: