The provident fund is running out of money, and the national loan policy is tightened.

The purpose of tightening housing provident fund loans is only for employees and their spouses who purchase and build self-occupied houses. This policy further supports first-time home buyers with rigid needs and will increase the housing provident fund loan repayment ability coefficient from the current 0 , the loan limit was halved for approval and issuance, because the urban property market ushered in waves of boom.

Employees who have paid housing provident funds can apply for housing provident fund loans from the Housing Provident Fund Management Center when purchasing, constructing, renovating, or overhauling their own homes. The Housing Provident Fund Management Center shall make a decision on whether to grant a loan or not within 15 days from the date of accepting the application, and notify the applicant. If a loan is approved, the entrusted bank will handle the loan procedures. The risks of housing provident fund loans are borne by the housing provident fund management center.