199 1 Shanghai took the lead in piloting the housing provident fund system in China, learning from Singapore's central provident fund system, and soon pushed it across the country. 1April 1994, the State Council promulgated the Regulations on the Management of Housing Provident Funds. In March 2002, the State Council issued the Decision of the State Council on Amending the Regulations on the Management of Housing Provident Fund, which will take effect as of the date of promulgation.

Extended data

Housing accumulation fund refers to the long-term housing savings paid by state organs, state-owned enterprises, urban collective enterprises, foreign-invested enterprises, urban private enterprises and other urban enterprises, institutions, private non-enterprise units, social organizations and their employees.

According to China's regulations, all enterprises, whether state-owned or private, must deposit and pay housing provident fund for their employees.

The housing accumulation fund paid by enterprises and institutions does not belong to the nature of total wages, but belongs to the cost of enterprises.

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