On May 24, the Ministry of Housing and Urban-Rural Development, the Ministry of Finance, and the People's Bank of China issued a document requiring the implementation of phased support policies for housing provident funds, including that enterprises can defer the payment of provident funds and make up for it when it expires; individuals cannot pay normally Those who repay provident fund loans will not be treated as overdue; the amount of housing provident fund rental withdrawals can be increased and depositors can be supported to withdraw on demand.

Industry insiders believe that the three-sector support policy is to implement the instructions of the National Congress and support market entities to stabilize their jobs. The policy coverage is relatively wide, including enterprises, home buyers and renters, directly addressing the pain points of the market, objectively helping to alleviate the pressure on relevant market entities, fully embodying the policy guidance of provident fund relief, and giving full play to the protection and convenience of the housing provident fund. , the policy effect of underpinning.

The full text is as follows

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The people's governments of all provinces, autonomous regions and municipalities directly under the Central Government, and the Xinjiang Production and Construction Corps:

In order to implement the Party's The central government and the State Council have made decisions and arrangements for efficiently coordinating epidemic prevention and control and economic and social development, further increasing the housing provident fund's efforts to assist enterprises and helping enterprises and depositors affected by the epidemic to tide over difficulties together, as approved by the State Council Executive Meeting After deliberation and approval, the implementation of the housing provident fund phased support policy is now notified as follows:

1. Enterprises affected by the new coronavirus epidemic can apply for deferment of housing provident fund payments in accordance with regulations, and make back payments after expiration. During this period, paying employees can withdraw and apply for housing provident fund loans normally and will not be affected by the postponement.

2. If depositors affected by the COVID-19 epidemic are unable to repay housing provident fund loans normally, they will not be treated as overdue and will not be reported to the credit reporting department as overdue records.

3. According to the local rent level and reasonable rental area, various localities can increase the amount of housing provident fund rental withdrawals to support depositors to withdraw on demand to better meet the actual needs of depositors to pay rent.

The implementation time limit of the above support policies is tentatively scheduled to December 31, 2022. All localities must attach great importance to and make careful arrangements in accordance with the requirements of this notice. The people's governments of provinces and autonomous regions must provide guidance and supervision for policy implementation. The people's governments of municipalities directly under the Central Government, districted cities (including prefectures, prefectures, and leagues) and the Xinjiang Production and Construction Corps can combine local Based on the actual situation of enterprises affected by the epidemic, specific implementation measures will be proposed, and the transition to regular housing provident fund policies will be made after the support policies expire. Housing provident fund management centers in various regions should use comprehensive service platforms and other channels to implement more services online, on the palm of your hand, and at your fingertips to ensure the smooth operation of housing provident fund services during the epidemic.

Ministry of Housing and Urban-Rural Development

Ministry of Finance

People's Bank of China

May 20, 2022

Source: Ministry of Housing and Urban-Rural Development website