The first overhaul of the side of the housing Provident Fund Ordinance to stimulate the property market
13 investment spread around
specifically, amendments to draft the original Bill provided for the deposit, the extract range, investment channels have been expanded. For deposit, Bill to amend the draft changes to the original deposit under the main State organs, State-owned enterprises, collective enterprises and units and their employees, increased hiring of self-employed, part-time workers and other flexible eligibility for participation in paid employment.
in terms of extraction, revised draft also proposed to allow no employees to pay house rent, employees in owner-occupied housing fee, can run on; when the spending and repay the mortgage principal and interest, and also extraction of provident funds of the spouse. It is reported that already began to implement similar policies in some areas, reducing the threshold for extraction.
worth note of is, except above involved personal deposit, and using Provident Fund of policy intends for adjustment outside, this times amendment trial draft also on long-term is industry criticized of Provident Fund using not full problem take has corresponding countermeasures, intends provides housing Provident Fund Management Center in guarantee housing Provident Fund extraction and loan of premise Xia, can will housing Provident Fund for purchase bonds, and large CDs; by housing Provident Fund Management Committee approved, can will housing Provident Fund for purchase local government bonds, and policy sex financial debt, and Housing provident fund housing loans-backed securities, such as high-grade fixed-income products, and remove value-added benefits of elderly housing fund for the construction of urban housing supplementary funding requirements.
earnings improve limited
data show that as of the end of July, remaining in Center of housing accumulation Fund of funds is around 1 trillion yuan. However, public information, following the housing accumulation Fund can invest only in Treasury bonds and bank deposits to achieve value-added benefits. CITIC said Huang Wentao, Chief bond analyst, in the past, housing has been in a "sleep" State, and this time the reform, it will expand investment channels, encouraging revenue higher assets, improve overall income level of the Housing Fund.
However, Huang Wentao also said that reforms can boost income levels, all investments investment ratio remains to be seen. "Judging from the yields, debt a little higher than the debt of local governments and policy-oriented financial bonds and a little taller than local government debt, 3 additional investments in the housing provident fund housing loans-backed securities with higher returns. Estimated remaining 1 trillion yuan cannot be used for financial instruments, there will be a reasonable composition. "The China Center for international economic exchanges of economic research Minister Xu Hongcai said.
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