Research On The Management Model Of Chinese Housing Accumulation Fund System

Housing serves as a necessity in ordinary life,which is of great significance for individuals and their families.Research addressing the housing problems of residents,then meet the basic housing needs of residents,is an critical part in building the social security system in our country.The housing reform in our country has been going on for years,and it has made a remarkable effect on housing security.With the increasing demand of urban residents to improve living conditions,insufficient supply of housing security system has revealed.In order to meet the requirements of the urban residents to improve their living conditions better,and to ensure the basic housing needs of the low-income population in urban areas,the housing provident fund system has been established.The current housing provident fund system in our country has been gradually established and developed on the basis of the Singapore central provident fund system and in combination with the actual situation of China.Since the establishment of the housing provident fund system in China is based on regions,and the economic development status and social historical conditions of different regions are not equal,After nearly three decades of development,the urban housing provident fund system in our country gradually formed the existing multi-mode coexistence situation.There are mainly classified into three patterns,represented by Beijing housing provident fund center leading mode,represented by Shanghai bank leading mode and represented by Nanjing housing provident fund center and bank cooperation mode.By sorting through the history of these three institutional patterns and the development of the features,we can find that there are similarities and differences between the three patterns.From the theory of New Institutional Economics,the operation of the system is cost,and the limited rationality,opportunism and property of the assets of the system increase the complexity of the transaction activity,which has a material impact on the transaction cost of the system,Therefore,it is of great significance for the sustainable development of China's housing provident fund system to reduce the transaction cost of the provident fund system in terms of the mode of trading and the system mode.For housing provident fund system,only to maximize cost benefit system model is the optimal choice.The welfare attribute of the housing fund system requires that the benefit of the system of provident fund system is the goal of realizing the housing,and the maximum benefit of the system mode of realizing the housing guarantee target can be maximized.The cost of the provident fund system refers to the sum of the cost,operation cost and so on to ensure the smooth operation of the provident fund system.The more reasonable the system design is,the lower the cost of the provident fund system.In this evaluation standard,by analyzing of the influence of the limited rationality of human,opportunism and asset specificity on the choice of housing provident fund system model,the cost-benefit analysis of the public housing provident fund center,the trustee bank and the depositing individual in different institutional modes is carried out,and the cost income of the Beijing model,Shanghai model and Nanjing model is obtained,and the optimal selection of the urban housing accumulation fund system in China should be the institutional model of the cooperation between the housing provident fund center and the bank,and how to realize transaction cost control and profit maximization in the cooperative mode between the public accumulation fund center and the bank.However,due to the limitations of the external environment and the policies of various localities,the protection goals of the housing provident fund system and the insufficient funds management and risk prevention and control of the accumulation fund have been deviated,and the institutional model of the cooperation between the housing provident fund center and the bank has never been promoted nationwide.In order to develop the long-term health of the housing provident fund system,this paper draws on the experience of the central provident fund system of Singapore,the German closed housing deposit system,the Japanese housing finance public library system and the American residential mortgage loan system.It is concluded that under the restriction of realistic objective conditions,it is only possible to realize the purpose of promoting the model of the housing provident fund center and the bank cooperation system in the whole country only by making clear and distinguishing the functions of the housing provident fund center and the two participating subjects of the bank.Due to the long-term nature and the stability of the institutional change,the implementation of the cooperation mode of the housing provident fund centre and the bank can be divide into two steps.In the short term,through the participation of strictly provident fund system object,the differential accumulation fund policy and reasonable use accumulation fund value-added benefits to improve the existing center and bank cooperation mode.In the long term,through the establishment of an independent policy-oriented financial bank,the establishment of a sound risk sharing mechanism,perfect the legal system of policy-oriented housing and the coordinated realization of the commercial residential financial system.