June 5 — The Ministry of Housing and Urban-Rural Development released a draft
amendment to the Regulations on Housing Provident Fund Management for public
comment. Major provisions: broadened withdrawal scope to allow use of provident
funds for owner-occupied home renovations and payment of property-management
fees, with a State Council‑approved catch‑all for other housing consumption;
expanded coverage, clarifying that organizations beyond traditional employers
and their on‑the‑job staff may apply the rules and allowing self‑employed,
part‑time and other flexible workers to join voluntarily; strengthened fund
governance by clarifying duties of the Housing Provident Fund Management C.BANK
and tightening supervision of provident fund management institutions; and sped
loan processing by cutting the approved loan decision window from 15 days to 10
days from receipt of application.
