Xinhua News Agency, Beijing, May 25th. China Securities Journal published an article on the 25th, “Before the end of the year, localities can increase the amount of housing provident fund rental housing withdrawals”. According to the article, on the website of the Ministry of Housing and Urban-Rural Development on the 24th, recently, the Ministry of Housing and Urban-Rural Development, the Ministry of Finance and the People’s Bank of China jointly issued the “Notice on Implementing the Phased Support Policy of Housing Provident Fund”. The “Notice” clarifies that the housing provident fund will further increase the relief efforts of enterprises, and help enterprises and depositors affected by the epidemic to tide over the difficulties together. The time limit for the implementation of the support policy is tentatively set to December 31, 2022.
The “Notice” proposes phased support policies from three aspects: Enterprises affected by the new crown pneumonia epidemic can apply for a deferral of housing provident fund payments according to regulations, and make supplementary payments after expiration. During this period, the paid-in employees will normally withdraw and apply for housing provident fund loans, and will not be affected by the delay in payment. Depositors affected by the new crown pneumonia epidemic who cannot repay the housing provident fund loan normally will not be treated as overdue, and will not be reported to the credit bureau as an overdue record. According to the local rent level and reasonable rental area, each locality can increase the amount of housing provident fund rental withdrawals, support depositors to withdraw on demand, and better meet the actual needs of depositors to pay rent.
(Photo description) File photo, issued by Xinhua News Agency
“Relevant departments have put forward specific support policies in consideration of the impact of the epidemic on enterprises and employees.” Chen Xiao, a senior analyst at Zhuge Housing Data Research Center, said that the recent domestic epidemic has spread in many places, which will inevitably cause certain damage to enterprises and home buyers. Influence, especially the financial impact, some enterprises face certain pressure of payment, and some residents have difficulty in repayment temporarily. The timely introduction of phased support policies by the three departments has released a positive policy signal, which is conducive to reducing the financial pressure of enterprises, ensuring the normal operation of market players, and also helping to relieve the economic pressure of home buyers and renters, and promote a virtuous circle of real estate market and healthy growth.
“The policies issued by the three departments have a strong signal meaning, which is conducive to giving full play to the policy effects of housing provident fund protection, convenience and support, and also helps to further enrich and improve housing finance policies.” said Yan Yuejin, research director of the Think Tank Center of E-House Research Institute. .
In addition, Chen Xiao reminded that many places have recently adjusted housing provident fund policies, mainly including increasing the loan amount, relaxing loan conditions, and reducing the loan down payment ratio, but there are not many provident fund support policies for rental groups. It is expected that after the introduction of the three-department policy, various localities will also launch corresponding support policies for the rental group. (Finish)
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