communique on execution of shanghai municipal housing provident fund system for year 2011-尊龙凯时人生就是博官网登录

communique on execution of shanghai municipal housing provident fund system for year 2011

(examined and approved by the 33^rd plenary meeting of the municipal housing provident fund management committee on march 30 of 2012)

in accordance with the provisions in article 32 of the regulations on housing provident fund administration of the state counciland article 14 of the provisions of shanghai municipality on housing provident fund administration, the communique on execution of the municipal housing provident fund system for year 2011 is issued as follows:

1. housing provident fund payment

in 2011, the housing provident fund payment rate for units and employees of this municipality was both 7%, with the additional housing provident fund payment rates both ranging from 1% to 8%.

in 2011, the payment amount *^note for the housing provident fund and the additional housing provident fund was 49.903 billion yuan, up 22.72% year on year, including 38.493 billion yuan’s housing provident fund payment and 11.41 billion yuan’s additional provident fund payment. by the end of 2011, the total payment amount for the housing provident fund and the additional provident fund had reached 315.042 billion yuan.

at the end of 2011, the number of employees paying the housing provident fund totaled 4.5018 million, an increase of 0.4270 million from the end of 2010. the number of employees paying the additional housing provident fund was 0.9774 million, a growth of 0.1633 million from the end of 2010.

2. housing provident fund withdrawal

in 2011, withdrawal of the housing provident fund and the additional housing provident fund amounted to 24.041 billion yuan, a year-on-year increase of 6.31%, including 18.655 billion yuan’s housing provident fund withdrawal and 5.386 billion yuan’s additional housing provident fund withdrawal. annual withdrawal of the housing provident fund and the additional housing provident fund due to repayment of home buyer loans reached 17.18 billion yuan. withdrawal of the housing provident fund and the additional housing provident fund due to home purchase (one-time) and housing renting registered 1.423 billion yuan. those two categories of withdrawal added up to 18.603 billion yuan, accounting for 77.38% of the total withdrawal. withdrawal due to retirements and domicile changes recorded 5.438 billion yuan, assuming 22.62% of the total withdrawal.

by the end of 2011, the cumulative withdrawals of the housing provident fund and the additional housing provident fund by employees of this municipality had totaled 165.766 billion yuan.

housing provident fund payments vs. withdrawals

                                            unit: 100,million yuan

3. housing provident fund loans

(1) home buyer loans

in 2011, housing provident fund loans released for housing purchase amounted to 26.505 billion yuan, accounting for 73300 households, down 12.50% and 26.36% respectively from the previous year, including home buyer loans of 318 million yuan for 1199 households’ affordable housing, up 65.63% and 42.57% respectively from the previous year. by the end of 2011, a cumulative housing provident fund loan of 259.829 billion yuan had been offered to 1.5636 million households for housing purchase, with a loan balance of 120.311 billion yuan and accumulated building area of 143 million square meters, accounting for 675000 outstanding loan households.

in 2011, collection of housing provident fund loans for housing purchase was normal, with a total principal of 18.939 billion yuan collected. by the end of 2011, a cumulative principal of 139.518 billion yuan had been collected for the housing provident fund’s home buyer loans.

the year 2011 witnessed fairly good risk control of housing provident fund home buyer loans. at the end of 2011, the overdue rate for three or more installments in terms of household number was 1.15‰, and the overdue rate in terms of the payment amount was 0.092‰.

(2) loans supporting indemnificatory (social security) housing construction projects 

in july of 2011, six ministries and commissions of the state, including the ministry of housing and urban & rural construction authorized shanghai as one of the pilot cities loaning surplus housing provident fund to support construction of security housing. by end of the year, 652 million yuan had been loaned to support security housing construction, constituting 65.2% of the loans planned for projects.

4. financial status of the housing provident fund

(1) assets and liabilities

at the end of 2011, total housing provident fund was 168.078 billion yuan, including 38.033 billion yuan’s housing provident fund deposit, 5.092 billion yuan’s value-added proceeds deposit, 135 million yuan’s interests receivables, 2.106 billion yuan’s other account receivables (with 2.088 billion yuan from low-rent housing and public rental housing), 120.963 billion yuan’s commissioned loans (with 120.311 billion yuan’s loans from housing purchase and 652 million yuan’s loans to support security housing construction projects), and 1.749 billion yuan’s national bonds.

at the end of 2011, total housing provident fund liabilities and net assets amounted to 168.078 billion yuan, including 149.276 billion yuan’s housing provident fund, 2.095 billion yuan’s interests payables, 283 million yuan’s other account payables, 5.58 billion yuan’s supplementary fund for urban low-rent housing construction, and 10.844 billion yuan’s reserved fund against loan risks.

(2) value-added proceeds

various service revenues of the housing provident fund in 2011 totaled 5.661 billion yuan, including 582 million yuan’s deposit interests income, 5.041 billion yuan’s loans interests income, 11 million yuan’s national bonds interests income, and 27 million yuan’s other incomes. various service expenses recorded 4.276 billion yuan, including 3.998 billion yuan’s interests payment to the fund payers, 106 million yuan’s commission payment due to the collection, 162 million yuan’s loan commission payment, and 10 million yuan’s other expenses payment. annual value-added proceeds reached 1.385 billion yuan.

(3) value-added proceeds distribution

according to the provisions in the regulations onhousing provident fund administration of the state council and the methods for financial administration of the housing provident fund of the ministry of finance, of the housing provident fund proceeds in 2011, withdrawal of reserved fund against loans risks amounted to 846 million yuan, withdrawal of administrative overheads registered 69 million yuan (including 35 million yuan’s special overheads for the information system construction & maintenance and the operation of service outlets in the municipality), and withdrawal of supplementary fund for construction of urban low-rent housing reported 470 million yuan.

5. major achievements:

(1)  system innovation

year 2011 marked the 20^th anniversary of the shanghai housing provident fund system, and embodied vigorous promotion of indemnificatory housing construction. shanghai provident fund management center took the opportunity to make active explorations and made a significant step forward in system innovation. one of the innovations was to expand the fund utilization channels by investing value-added proceeds in xinjiangwan’s shangjingyuan public rental housing projects and giving housing provident fund payers the priority in renting the decorated housing. another innovative achievement was to successfully release loans for construction projects to support housing renovations in old urban areas and the residents’ relocations in accordance with the suggestions on implementation of pilot projects of using the housing provident fund to support indemnificatory housing construction by seven ministries and commissions, including the ministry of housing and urban & rural construction.

(2) policy adjustment

the state and municipal macro-policies on the housing and real estate market was actively implemented. this municipality adjusted the policies for housing provident fund’s household loans; revised and publicized the guidelines for implementation of shanghai municipal housing provident fund loans for household purchase of affordable housing; and further improved the policies on housing provident fund withdrawal. by means of a series of provident fund policy adjustments, more vigorous support was given to households that purchased their first home for their own residence, and the housing consumption capability of low-and-medium-level-income employee households was raised.

(3) rights protection and law enforcement

2011 is a year focusing on rights protection and law enforcement. the administrative methods for executive enforcement of shanghai municipal housing provident fund and the operational norms were published to strengthen rights protection and law enforcement. the law enforcement team was further reinforced, and the number of certified law enforcement personnel, after passing the law enforcement training and examination, increased to 119, representing a stronger contingent. law enforcement inspections were actively conducted, with 645 units inspected in the year, 31 copies of the notice on requiring payment within the prescribed time limit issued, and 32 cases submitted to the court for compulsory enforcement.through ad hoc right-protecting and law-enforcing campaigns, this municipality protected the legitimate rights and interests of the housing provident fund payers and further expanded the coverage of the housing provident fund.

(4) improved service

this municipality actively implemented the notice on strengthening and improving housing provident fund services of the ministry of housing and urban & rural construction. it formulated the guidelines on shanghai municipal housing provident fund services to promote standardization and normalization of the municipal housing provident fund services. in the light of the adjustment of the administrative offices of xuhui and huangpu districts, this municipality explored a new one-stop service mode, which, thank to concentrated service resources, bring convenience to paying individuals and units. this municipality gave full play to shanghai housing provident fund website as a service platform, established a cyber service hall providing round-the-clock online services. the housing provident fund service hotline was renovated and upgraded in conformity with the requirements of “adding to the phone line capacity, expanding the service scope and improving service quality”.     

shanghai provident fund management center

march 30, 2012

* note: the payment amount means the sum collected plus the interests incurred.