On September 20, the newly revised “Housing Provident Fund Administration Regulations” officially came into effect. Since the implementation of the Regulations, many places have optimized housing provident fund policies according to local conditions, and clearly carried out services such as withdrawing housing provident funds for self-occupied housing renovation. For example, on October 12, the Changchun Housing Provident Fund Management Committee issued the “Notice on Adjusting the Policy for the Use of Housing Provident Funds” to implement the “Regulations” and clearly support measures such as withdrawing housing provident funds to renovate self-occupied housing. Yan Yuejin, deputy director of the Shanghai Yiju Real Estate Research Institute, analyzed that various regions have implemented the “Regulations” according to local conditions, and the maximum amount of housing provident fund withdrawals for renovation ranges from 100,000 yuan to 300,000 yuan, which is basically in line with local housing price levels and housing stock characteristics.

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