Research On Housing Fund Support Affordable Housing In China

In recent years, the housing problem in China has been one of the hottest domestic issues of the people’s livelihood. With the continuous rising prices of commodity housing, many low-income people in our country cannot buy a house. The basic needs of people’s living security cannot be met, which certainly bring other social problems. In order to solve the contradiction between the housing supply and the urgent market demand, our government promulgates a series of policies and measures, including housing accumulation fund system and the system of affordable housing construction.Many years of practical experiences prove that housing accumulation fund system is perfect for our social security system. It improves the ability of the worker buying a house and greatly solves some problems to buy a house. In addition, the system of affordable housing construction provides the basic housing guarantee for low-income people in our country. It improves the living condition of low-income people and effectively alleviate the social contradicts as well.However, other problems occur with the continuous accumulation of the funds, for example, lots accumulation funds are idle and the pressure of keeping value increases.On the other side, the source of funds for the construction of affordable housing is shortage, the financial pressure of the government for keeping investing becomes noticeable. Many local governments even have been unable to afford housing construction funds, then the housing constructions are slowed down.. To counter the problems of housing system and the accumulation fund system, our country puts forward the policy of housing accumulation fund loan support of affordable housing construction, and in 2009, this policy was carried out in 28 cities. In the beginning of this innovative policy implementation, conditions have been greatly improved. But many problems it exposed cannot be neglected. These problems hinder the process of policy implementation across the country, and they would affect the further development of the housing security system in our country.Based on China’s actual national conditions, this paper deeply analyzes the running status of housing accumulation fund loan support of affordable housing construction in the trial cities. The main perspectives comes from the project situation, provident fund loans and recover the situation and situation of accumulation fund loan balance,accumulation fund loan structure. This analysis selects several typical trial provinces and cities in the implementation of the fund loans policy and studies their detailed measures. It summarizes the advantages of this policy in relieving the government financial burden and improving the utilization efficiency of the public accumulation fund for housing construction, stimulating domestic demand and stimulate economic development etc. At the same time it reveals the disadvantages of this policy, such as the lack of effective implementation of the scheme, backward management system, lack of relevant laws and regulations, lack of security rent sales supporting policies, risk control is not in place. Finally it puts forward the corresponding solutions for these problems and provides certain theoretical guidance and experience summary in order to better implement this policy.