The Hangzhou Urban and Rural Construction Management High Quality Promotion Leading Group Office issued the “Notice on Promoting High-Quality Real Estate Development in Our City”. The “Notice” clearly strengthens support for the Provident Fund. The first is to support the renovation of self-occupied housing and withdraw housing provident funds. Depositary workers' families can apply for withdrawing housing provident funds for self-occupied housing decoration in the city on the basis of housing decoration value-added tax invoices and renovation contracts issued by enterprises with professional contracting qualifications for building decoration projects. The total amount of withdrawal shall not exceed the VAT invoice amount, and the maximum amount shall not exceed 250,000 yuan. The total amount can be withdrawn according to the 1,000 yuan/square meter quota standard and housing area approval for self-occupied housing that has been obtained for 15 years or more. There is no need to provide a value-added tax invoice or renovation contract for self-occupied housing for 15 years or more. The families of the depositary workers once again applied for decoration withdrawal. 10 years should have passed since the last renovation withdrawal. The second is to optimize the rules for determining the number of housing provident fund loans. The third is to increase the rate of increase in housing provident fund loan amounts for families with many children. Fourth, support the use of housing provident fund loans for independent renewal of urban dilapidated housing.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.