The Zhitong Finance App learned that recently, heads of the Ministry of Justice and the Ministry of Housing, Urban-Rural Development answered questions from reporters on the “State Council's Decision to Amend the 'Housing Provident Fund Administration Regulations'”. The person in charge said that the scope of housing provident fund withdrawals is a common concern of all parties. One of the key elements of the “Decision” is that it has broadened the scope of withdrawal and use of housing provident funds, including no longer setting a threshold limit for withdrawing rent from housing provident funds to pay rent that exceeds the specified ratio of household income, and adding situations where housing provident funds can be withdrawn, such as renovating self-occupied housing and paying property fees for self-occupied housing. On this issue, the “Decision” insists on being active, steady, and balanced, closely following the two core elements of housing consumption and depositors, and further includes the relatively common and urgent need in practice to pay rent, renovation costs, and property fees in the scope of housing provident fund withdrawals to better meet the diverse housing consumption needs of depositors. The “Decision” also added a backstopping provision on “other housing consumption situations approved by the State Council”, leaving institutional space for further broadening the scope of housing provident fund withdrawals.

The Zhitong Finance App learned that recently, heads of the Ministry of Justice and the Ministry of Housing, Urban-Rural Development answered questions from reporters on the “State Council's Decision to Amend the 'Housing Provident Fund Administration Regulations'”. The person in charge said that the scope of housing provident fund withdrawals is a common concern of all parties. One of the key elements of the “Decision” is that it has broadened the scope of withdrawal and use of housing provident funds, including no longer setting a threshold limit for withdrawing rent from housing provident funds to pay rent that exceeds the specified ratio of household income, and adding situations where housing provident funds can be withdrawn, such as renovating self-occupied housing and paying property fees for self-occupied housing. On this issue, the “Decision” insists on being active, steady, and balanced, closely following the two core elements of housing consumption and depositors, and further includes the relatively common and urgent need in practice to pay rent, renovation costs, and property fees in the scope of housing provident fund withdrawals to better meet the diverse housing consumption needs of depositors. The “Decision” also added a backstopping provision on “other housing consumption situations approved by the State Council”, leaving institutional space for further broadening the scope of housing provident fund withdrawals.