Q City Housing Provident Fund Loan Management Research

China's housing provident fund system is an innovation of housing financing system on the basis of absorbing and referring to Singapore's Central Provident Fund in the early 1990 s where China's housing system was transforming from a planned system to a market-oriented one.As an important housing security system of China,the housing provident fund system generates housing savings through individual deposit and organization funding.Housing provident fund has become a major channel of low-middle-income families' home financing,making this system a policy and project that deepens the reform of housing system and promotes housing security in the public interest and embodying benevolent government.It is intended to establish accumulated public housing funds for urban residents by means of national compulsory deposit to provide a solution to the housing problem of low-middle-income worker's families,with the advantage of “contributing mutual benefits with low interest rates on deposit and loan”.With the development of the society and economy,both of the government and the public propose more urgent requirements on housing provident fund.Over the practical exploration and system innovation for more than 20 years,a policy system has initially taken shape with “providing loans based on organization funding and individual deposit and securing housing with low-rent houses”,allowing relevant activities in each aspect to proceed stably and urban workers' housing deposits to accrue in a long-term and steady manner.This reveals the material role of the system in solving residents' housing problems,supporting resident housing security practices and accelerating housing financing development,effectively backing workers' housing consumption with financial supports.Since last year,with the keynote of promoting consumption and reducing inventory in real estate market,the Central Bank has enforced a series of macro control measures such as cutting deposit reserve rate and interest rate continuously for five times,reducing or exempting taxes and fees of real estate transaction,reducing down payment rate of housing provident fund loan,raising line of loan,etc.These measures has powerfully improved market environment and boosted housing provident fund loan.This article analyzes from a macroscopic view the background of China's current housing provident fund system and research on the issue of housing provident fund loan and the future development trend with the case of the housing provident fund loan of Q city,and the significance of this study at the level of practical operation.Based on the background,popularization and current status of China's housing provident fund system,an analysis is made for relevant theories of housing provident fund loan to make clear the essential concepts of housing provident fund and housing provident fund system,providing a theoretical basis for further studies.According to the development status of the housing provident fund loan of Q city,this article mainly analyzes the necessity of this system from the needs to return to its essence and maintain social fairness and of the government to perform its functions,and elaborates the feasibility from other aspects;analyzes the main problems existing in the housing provident fund loan management of Q city and the reasons;refers to experience and lessons of other countries for China's housing provident fund policy;and carries out a combined analysis of the present problems on the housing provident fund of Q city,and proposes solutions to the utilization of housing provident fund by establishing a sound supporting policy system and collective management on housing provident fund loan by the municipal operation center,strengthening the risk prevention and guarantee system of housing provident fund loan and so forth.Since its establishment in 1994,the housing provident fund system of Q city has played an important role in supporting the housing improvement of low-middle-incoming urban worker's families over its exploration and development for 21 years,positively contributing to the healthy and stable development of the real estate sector of Q city.As the capital scale of housing provident fund loan enlarges,deficiencies in the system design and risk control make the risks of housing provident fund loan management being gradually exposed,which have become urgencies to be tackled by the government and competent department.Despite of the priority put on and the application of housing provident fund loan,problems remain on imbalanced development and so forth.This article uses the case of the management of housing provident fund loan of Q city and takes into account the problems present therein to investigate for the approach to enhance housing provident fund loan management and improve the comprehensive management capacity.