communique on execution of shanghai housing provident fund system for year 2013
(reviewed and approved on 31 march 2014 by 41st plenary congress of housing provident fund management committee of the municipality)
we hereby issue communique on execution of shanghai housing provident fund system for year 2013 as follows, pursuant to the stipulations under article 32 of the state council’s regulations on management of housing provident fund and article 14 of provisions of shanghai municipality on administration of housing provident fund.
1. housing provident fund payment
the municipality’s housing provident fund payment rate in 2013 was 7% for both units and employees, with additional housing provident fund payment rates both ranging from 1% to 8%.
the payment amount of housing provident fund and additional housing provident fund in 2013 was 68.367 billion yuan, up 14.97% year on year, comprising 53.106 billion yuan housing provident fund and 15.261 billion yuan additional provident fund. by end of 2013, the total payment amount of housing provident fund and additional provident fund registered 442.872 billion yuan.
by end of 2013, housing provident fund paying units totaled 164,200, and paying employees edged up to 5.4758 million, a gain of 0.6 million from end of 2012, including 13,800 additional housing provident fund paying units, 1.0955 million additional housing provident fund paying employees, up 0.0433 million from end of 2012. the municipality’s blocked employee accounts by end of 2013 totaled 2.1731 million.
2. housing provident fund withdrawal
withdrawal of housing provident fund and additional housing provident fund in 2013 amounted to 37.637 billion yuan, up 33.32% year on year, comprising 29.467 billion yuan housing provident fund and 8.170 billion yuan additional housing provident fund. annual withdrawal of housing provident fund and additional housing provident fund due to repayment of home buyer loans reached 25.823 billion yuan. withdrawal of housing provident fund and additional housing provident fund due to home purchase (one-off withdrawal) and housing renting registered 3.570 billion yuan. those two categories of withdrawal added up to 29.393 billion yuan, accounting for 78.10% of the total withdrawal. withdrawal due to retirements and domicile changes recorded 8.244 billion yuan, assuming 21.90% of the total withdrawal amount.
by end of 2013, the cumulative withdrawal of housing provident fund and additional housing provident fund by employees of the municipality registered 231.633 billion yuan.
housing provident fund payments vs. withdrawals
unit: billion yuan
items | amount through 2013 | cumulative amount by end of 2013 | |
|---|---|---|---|
payment | total | 68.367 | 442.872 |
housing provident fund | 53.106 | 351.569 | |
additional housing provident fund | 15.261 | 91.303 | |
withdrawal | total | 37.637 | 231.633 |
housing provident fund | 29.467 | 184.684 | |
additional housing provident fund | 8.170 | 46.949 | |
by end of 2013, balance of housing provident fund and additional housing provident fund payment recorded 211.239 billion yuan.
3. housing provident fund loans
(1) home buyer loans
in 2013, housing provident fund loans released for home purchase amounted to 61.456 billion yuan, for a total of 158700 households, up 49.75% and 41.95% respectively from the previous year, including 1.556 billion yuan home buyer loans for 5500 households’ affordable housing. by end of 2013, a cumulative 362.316 billion yuan housing provident fund loan had been issued to 1.834 million households for home purchase, with a cumulative building area of 165 million square meters.
in 2013, collection of housing provident fund home purchase loans recorded a total principal of 24.675 billion yuan. by end of 2013, a cumulative principal of 183.485 billion yuan had been collected for the housing provident fund home buyer loans, with a loan balance of 178.831 billion yuan, accounting for 786700 households’ outstanding loans.
at the end of 2013, the overdue rate for three or more installments in terms of household number was 0.76‰, and the overdue rate in terms of the payment amount was 0.12‰.
(2) loans in support of security housing construction
altogether 4.928 billion yuan worth of mortgage loans was issued in 2013 for pilot security housing projects of the municipality, and collection of principal totaled 0.808 billion yuan. total cumulative amount of mortgage loans 7.960 billion yuan was lent out for pilot security housing projects by end of 2013, comprising 4.723 billion yuan for relocation housing projects for shanty towns reconstruction, 1.931 billion yuan for public rental housing projects and 1.306 billion yuan for joint-ownership security housing projects. balance of loans totaled 7.152 billion yuan.
4. housing provident fund financial status
(1) assets and liabilities
total housing provident fund assets as of end of 2013 were 238.349 billion yuan, including 45.831 billion yuan housing provident fund deposit, 2.227 billion yuan value-added proceeds deposit, 969 million yuan interests receivables, 3.339 billion yuan other account receivables (with 3.296 billion yuan from low-rent housing and public rental housing), 185.983 billion yuan commissioned loans (with 178.831 billion yuan home purchase loans and 7.152 billion yuan loans in support of security housing construction projects).
total housing provident fund liabilities and net assets as of end of 2013 amounted to 238.349 billion yuan, including 211.239 billion yuan housing provident fund, 2.521 billion yuan interests payables, 419 million yuan other account payables, 9.157 billion yuan supplementary fund for urban low-rent housing construction, and 15.013 billion yuan loan risks reserved fund.
(2) value-added proceeds
various service revenues of housing provident fund in 2013 totaled 9.387 billion yuan, including 1.742 billion yuan deposit interests income, 7.560 billion yuan loans interests income, 85 million yuan other incomes. various service expenses recorded 5.024 billion yuan, including 4.595 billion yuan interests payment to the fund payers, 139 million yuan commission payment due to the collection, 233 million yuan loan commission payment, and 57 million yuan other expenses payment. annual value-added proceeds reached 4.363 billion yuan.
(3) value-added proceeds distribution and use
according to the provisions in the state council’s regulations on management of housing provident fund and ministry of finance’s methods for financial administration of the housing provident fund, of the housing provident fund proceeds in 2013, withdrawal of loans risks reserved fund amounted to 1.953 billion yuan, withdrawal of administrative overheads registered 85 million yuan (including 45 million yuan special overheads for the information system construction & maintenance and the operation of service outlets in the municipality), and withdrawal of supplementary fund reported 2.325 billion yuan for construction of the city’s low-income families rental housing.
altogether 90.9 million yuan housing provident fund was used in the city’s subsidized housing program in 2013 for low-income families rental housing and public rental housing as approved by the central government, including 0.2 million yuan for low-income families rental housing decoration and 90.7 million yuan for public rental housing purchase and decoration.
5. major achievements:
(1) kept on strictly abiding by macro-regulatory policies of the state in an effort to bolster basic housing consumption
in 2013, spfmc continued strict implementation of differentiated lending policies pursuant to overall demand of real estate macro-regulatory measures of the state and the municipality, providing provident fund loans primarily to eligible home purchasers of joint ownership security housing and self-occupying improvement-oriented housing, bringing hpf withdrawal access to eligible employees for rent payment of low-income households’ rental housing and public rental housing, and to eligible needy employees’ households for property service charges payment.
(2) strove to orchestrate investment and lending in a move to bolster security housing construction
in 2013, spfmc continued to shore up security housing construction by loaning balance of housing provident fund. of the endorsed 15 pilot security housing loan projects, housing provident fund loans had been released to 14 projects as of end of the year. spfmc also increased efforts to make investment of housing provident fund in public rental housing operation management. the occupancy rate of the municipality’s first provident fund invested public rental housing at shang jing yuan reached 98%, while the second public rental housing project jing hua fang had its interior decoration completed within the year, poised to be officially launched before end of the year.
(3) conducted provident fund law enforcement inspection for housing provident fund system coverage expansion
the municipal provident fund center, the municipal trade union and the municipal housing provident fund management committee jointly conducted ad hoc inspection of housing provident fund payment. the majority of liable paying units carried out self checking. the municipal provident fund management center conducted targeted law enforcement inspection of part of the liable paying units that failed to make payment or had made inadequate payment of housing provident fund. by means of publicity and law enforcement inspection, liable paying units’ legal awareness of compliance was strengthened, and housing provident fund system coverage expansion was boosted.
(4) stepped up informatization development and improved management standard
in 2013, spfmc conducted a series of “year of management” activities. during the year, hpf system’s application level disaster recovery backup system construction project plan and engineering feasibility scheme got approved, and hpf history data bank system construction was completed, with online query access available for users. the municipal provident fund center’s official website was redesigned and upgraded.
in 2013, the municipal provident fund management center comprehensively conducted and fulfilled regulatory documents cleanup initiative as per requirements of the municipality for establishment of working mechanism for regulatory documents cleanup, in a move to abolish or rescind a batch of regulatory documents and revise a batch of regulatory documents and services operation norms such as measures of shanghai municipality on blocking management of hpf accounts and operation norms for hpf collection and withdrawal management.
(5) enhanced construction of service outlets and platforms to step up service capability
the one-door service outlet construction initiative prompted fulfillment of the upgrade projects in districts of jing’an, hongkou, baoshan, pudong (huinan) and changning in 2013. altogether 7 management divisions completed the one-door service upgrade construction. the municipal provident fund management center also launched official shanghai hpf weibo (micro blogging) services in 2013. spf mobile app. version 2.0 was rolled out and went live.
(6) resolutions of shanghai hpf management committee
shanghai housing provident fund management committee convened four plenary meetings in 2013, and reviewed and approved a batch of major proposals such as report on shanghai hpf work plan 2012 execution and work plan 2013 arrangement, report on proposal for year 2012’s hpf value-added proceeds allocation, report on communique on execution of shanghai hpf system for year 2012, report on proposal for fiscal year 2013’s hpf payment basis and liable contributors adjustment, report on the municipality’s ad-hoc law enforcement inspection of hpf payment and report on amendment of measures of shanghai municipality on blocking management of hpf accounts.
shanghai provident fund management center
april 2014
