On the 18th, the Wuhan Housing Provident Fund Management Center and partner
departments launched a pilot allowing eligible tenants to freeze an equivalent
balance in their housing provident fund account in lieu of a cash security
deposit and to authorize direct rent payment from the account. On move-out,
outstanding charges are deducted and the remaining frozen balance is
automatically released. The pilot covers about 15,000 units across 11 rentals
outlets; Wuhan housing provident fund account holders who meet the requirements
can apply.
