The Sichuan Provincial Department of Housing and Urban-Rural Development recently issued the Guidelines for Effectively Enhancing the Quality of Housing Provident Fund Services to Promote Integrated Urban-Rural Development (hereinafter referred to as the Guidelines). The Guidelines emphasize the need for the housing provident fund authorities throughout the province to consistently expand the reach of the housing provident fund system, optimize business processes, introduce innovative service models, strengthen their capacity to fulfill responsibilities and elevate the standard of service delivered by the housing provident fund.

Efforts are required to advance the comprehensive extension and effective coverage of the housing provident fund system across urban and rural areas. The Guidelines state that it is necessary to urge and direct employers to legally deposit housing provident funds for their employees, promote coordinated initiatives to enhance financing credibility for enterprises that contribute to the housing provident fund and expand the system's coverage, support enterprises facing difficulties in applying for reduced provident fund ratios or deferred payments, allow employees to independently select their personal contribution rates between the employer's contribution ratio and the prescribed upper limit, and actively encourage flexible-employed individuals to participate in the housing provident fund system.

Intensified Efforts are highlighted to support depositors in utilizing housing provident funds to address their housing challenges. In terms of rental withdrawal, the Guidelines specify that various regions can adjust the rental withdrawal amount and choose flexible withdrawal times, among other measures, to support depositors in securing stable housing through rental. In supporting housing purchases, regions should consider their specific conditions and implement measures such as raising loan limits and actual loanable amounts, as well as facilitating monthly withdrawals for housing purchases, to ease the financial burden on contributors. In support of elevator installations, residents are permitted to withdraw from their housing provident funds for the purpose of financing elevator installations and other residential housing renovations. Furthermore, the policy allows both individuals and their spouses to access their housing provident funds to cover the costs of renovating the residential housing of their parents, including the installation of elevators.