The provident fund has to be adjusted again! After the Central Government Sets That the Provident Fund Should Not Be Cancelled, Beijing Takes the Lead in "Cost Reduction"

　　China Economic Weekly-Economic News (Reporter Zhou Qi) entered July, the annual provident fund adjustment came again, and many units will adjust the provident fund according to the average monthly salary of employees in the previous year after completing the June remittance business Pay base. It is reported that Nanchang, Kunming, Chongqing, Harbin and other cities have raised the provident fund deposit base. If wages in the previous year have risen, the unit provident fund deposit ratio will remain unchanged, and employees’ provident fund deposits will increase. However, some netizens pointed out that if the wages remain unchanged this year, the provident fund contribution will increase, which means that the wages received will be less.

Beijing implements “fee reduction” measures for provident fund loans

　　In addition to raising the provident fund deposit base in various places, individual areas have also optimized their provident fund withdrawal policies.

　　For example, the Beijing Housing Provident Fund Management Center issued a notice: From July 1, 2020, the second-hand housing evaluation fees for personal housing loans for housing provident funds issued after September 16, 2019 (inclusive) will no longer be borne by the loan applicant, and the combined loan The loan is entrusted by the bank, the non-combined loan is borne by the Beijing Housing Provident Fund Management Center, and the second-hand housing evaluation fee paid by the loan applicant will be refunded.

　　At the same time, in order to facilitate the applicant's loan repayment, from July 1st (inclusive) of this year, the housing provident fund personal housing loan borrower that accepts can apply for the use of my housing provident fund account on the contract repayment date in January and July of each year. The funds directly repay the loan. In other words, the balance of the provident fund account can be used directly to repay the loan, no longer withdraw to the fixed account to repay.

　　Yan Yuejin, Research Director of the Think Tank Center of E-House Research Institute, believes that such regulations objectively reflect the direction of fee reductions, and also make the provident fund loans smoother.

　　"Beijing's policy further reflects the convenience of provident fund loans. From the perspective of the evaluation of second-hand housing provident fund loans for single-unit housing, the cost is about a few hundred yuan. From the perspective of home buyers under the epidemic this year, similar cost savings are positive The effect is to at least reduce the pressure on the transaction. Of course, follow-up to prevent the risk of some intermediary speculation policies. In particular, this type of policy renders the policy relaxation tendency. Because from the perspective of the Beijing second-hand housing market, there has been a wave of hype this year, so While digesting not only favorable policies, but also to further promote the stability of second-hand housing transactions." Yan Yuejin told the reporter of China Economic Weekly.

Last year, the housing provident fund withdrew about 30,000 yuan per capita

　　In fact, the debate over the provident fund has not stopped in recent times. From celebrities such as Huang Qifan, Dong Mingzhu and Yao Jinbo, to researchers in the system such as Lou Jiwei and Chen Huai, they have all expressed their opinions. However, as to whether the provident fund will be cancelled or retained, in fact, the Central Government has already decided.

　　On May 18, the Central Committee of the Communist Party of China and the State Council formally issued the "Opinions on Accelerating the Improvement of the Socialist Market Economic System in the New Era", clearly proposing to accelerate the establishment of a housing system with multi-subject supply, multi-channel guarantees, and rent-purchase simultaneous reform of the housing provident fund system .

　　This means that the state will not "one-size-fits-all" the provident fund, but will improve and reform on the basis of the original one. The idea of ​​"cancel the provident fund" is overturned.

　　In mid-June, the "National Housing Provident Fund Annual Report 2019" jointly released by the Ministry of Housing and Urban-Rural Development, the Ministry of Finance, and the People's Bank of China showed that in 2019, China's housing provident fund deposits were 2,370,967 million yuan; the number of housing provident fund withdrawals for the year was 5,648.56 Ten thousand people, the withdrawal amount is 1,628.178 billion yuan, and the average per capita is about 30,000 yuan; 2.682 million personal housing loans were issued, with an amount of 1,213.906 billion yuan. It is worth mentioning that the proportion of employees in non-public ownership economy is as high as 49.04%, nearly half.

　　Zou Linhua, the leader of the big data project team of the Institute of Financial and Strategic Research of the Chinese Academy of Social Sciences, believes that the current housing provident fund system has problems with backward operation methods and low capital yields. There are also some calls to cancel the housing provident fund. However, the housing provident fund, as an institutional arrangement for housing cooperative finance, can effectively reduce the burden of interest on house purchases and improve employee well-being. The housing provident fund system needs reform, but it is not appropriate to simply cancel it.

　　"The problems of the current provident fund system include many aspects: one is that they are independent and lack efficiency and unified standards. The local provident funds are operated and managed independently by local governments, and the practices are different; second, the investment efficiency is low, and only current interest income can be obtained. , Resulting in wasted funds; third, it is not convenient to withdraw; fourth, the amount is limited. In the context of high housing prices, it is often necessary to combine commercial loans to complete the purchase of the house, resulting in higher cost of house purchase." Zou Linhua said in an interview with a reporter from China Economic Weekly .

　　He suggested that the direction of the provident fund system reform can consider the following aspects: First, unify and standardize to improve operational efficiency; Second, broaden investment channels and increase capital returns; Third, make withdrawal more convenient; Fourth, on the basis of unified operation, Increase the quota.