The Ministry of Housing and Urban-Rural Development published a draft revision
to the Housing Provident Fund Management Regulations for public comment. The
draft allows employees to withdraw balances from their provident fund accounts
where they: pay rent; purchase, build, renovate, or major-repair owner-occupied
housing; repay mortgage principal and interest; fund home renovations up to a
prescribed limit; pay property-management fees for owner-occupied housing;
retire or leave employment for retirement; become fully incapacitated and have
employment terminated; emigrate for settlement abroad; or under other
housing-consumption circumstances approved by the State Council.
