(Adopted at the 15th Executive Meeting of the State Council on March 17th, 1999, and promulgated by Decree No.262 of the State Council of People's Republic of China on April 3, 1999)
颁布日期：19990403 　实施日期：19990403 　颁布单位：国务院

Chapter One General Provisions

Article 1 These Regulations are formulated with a view to strengthening the management of, protecting the legal rights and interests of housing provident fund owners, promoting the construction of houses in cities and towns, and improving the housing standard of residents in cities and towns.

Article 2 These Regulations are applicable to the payment and deposit, withdrawal, use, management and supervision of housing provident fund within the territory of the People's Republic of China.

The term "housing provident fund" as referred to in these Regulations means long-term housing deposit fund collected from State organs, State-owned enterprises, collectively owned enterprises in cities and towns, enterprises with foreign investment, private enterprises in cities and towns as well as other enterprises and institutions in cities and towns (hereinafter referred to as units) and their on-the-job workers and staff.

Article 3 The housing provident fund paid and deposited by workers and staff themselves as well as that paid and deposited by units to which the workers and staff belong is owned by the workers and staff themselves.

Article 4 The principle that the housing committee makes decisions, the managing center of housing provident fund operates, the bank deposits in special account and the finance supervises shall be excised in the management of housing provident fund.

Article 5 Housing provident fund shall be used by workers and staffs for buying, building, overhauling and repairing houses for self living and shall not be misused by any unit or individuals for other purposes.

Article 6 The deposit interest and loan interest of housing provident fund shall be lodged by the People's Bank of China and then, after soliciting the opinion of the competent department of construction administration of the State Council, submitted to the State Council for approval.

Article 7 The competent department of construction administration of the State Council shall, together with the financial department of the State Council and the People's Bank of China, work out policies on housing provident fund and supervise the fulfillment.

The competent department of construction administration under the people's government of a province or an autonomous region is responsible for directing the management work in relation to housing provident fund within its administrative region.

Chapter Two Organs and Their Functions and Responsibilities

Article 8 In a municipality directly under the Central Government, a city where the people's government of a province or an autonomous region is located as well as any other city divided into districts, a housing committee composed of the responsible persons of the people's government, the responsible persons of financial department, construction department and other departments as well as the representatives of the trade union and specialists shall be set up as the decision-making organ of management of housing provident fund

Article 9 The housing committee shall perform the following functions and responsibilities in the management of housing provident fund:

(1) work out and adjust the specific measures for the management of housing provident fund and supervise the implementation thereof in according to the relevant laws, regulations and policies

(2) set the specific payment and deposit ratio of housing provident fund according to the provisions of Article 18 of these Regulations;

(3) decide on the highest amount of loan of housing provident fund;

(4) examine and approve the plan for collecting and using the housing provident fund;

(5) examine and approve the report on the implementation of the plan for collecting and using the housing provident fund;

Article 10 In a municipality directly under the Central Government, a city where the people's government of a province, an autonomous region is located and a city divided into districts, a managing center of housing provident fund, which is to be responsible for managing and operating housing provident fund, shall be set up on the basis of the principle of simplification and efficiency.

No managing center of housing provident fund, in principal, shall be set up in a county (city); where its establishment is necessary indeed, the matter shall be submitted to the people's government of province, autonomous region and municipality directly under the Central Government for approval.

The managing center of housing provident fund is a not-for-profit and independent institution.

Article 11 The managing center of housing provident fund shall fulfill the following functions and responsibilities:

(1) make and implement the plan for collecting and using housing provident fund;

(2) record the payment and deposit, withdrawal and use of housing provident fund of worker and staff;

(3) take the responsibility of the assessment of housing provident fund

(4) examine and approve the withdrawal and use of housing provident fund;

(5) take the responsibility of the value-keeping and return of housing provident fund;

(6) make the report on the implementation of the plan for collecting and using housing provident fund;

(7) undertake other work decided by the housing committee.

Article 12 The managing center of housing provident fund shall, according to the relevant provisions of the People's Bank of China, commission the bank designated by the housing committee (hereinafter referred to as the commissioned bank) to undertake banking businesses such as loan and settlement of housing provident fund and to undergo procedures such as the open, payment and deposit, and return of housing provident fund.

The managing center of housing provident fund shall sign a contract for commission with the commissioned bank.

Chapter Three Payment and Deposit

Article 13 The managing center of housing provident fund shall open a special account of housing provident fund in the commissioned bank.

A unit shall undertake registration of payment and deposit of housing provident fund at the managing center of housing provident fund and then, upon the verification by the managing center of housing provident fund, undergo the procedures of opening the account of housing provident fund for its workers and staff at the commissioned bank. Each worker and staff shall only have one account of housing provident fund.

The managing center of housing provident fund shall establish a subsidiary book of housing provident fund of workers and staff, which records the payment and deposit and withdrawal of the housing provident fund by individual worker and staff.

Article 14 A newly-established unit shall undertake the registration of payment and deposit of housing provident fund at the managing center of housing provident fund within 30 days of its establishment, and shall , on the basis of the verification documents of the managing center of housing provident fund, undergo the procedure of opening the accounts of housing provident fund for its workers and staff at the commissioned bank within 20 days of the registration.

In case of merger, separation, termination, dissolvent or bankruptcy of a unit, the original unit or the liquidation group shall, within 30 days of the occurrence of the above-mentioned situations, undertake the alteration registration or termination registration at the managing center of housing provident fund, and shall, on the basis of verification documents of the managing center of housing provident fund, undergo the procedures of transferring or sealing up the accounts of housing provident fund for its workers and staff at the commissioned bank within 20 days of the completion of the registration of alteration registration or termination registration.

Article 15 If a unit employs a new worker or staff, the unit shall undertake the registration of payment and deposit at the managing center of housing provident fund within 30 days of the employment, and shall, on the basis of the verification documents of the managing center of housing provident fund, undergo the procedure of opening or transferring the account of housing provident fund of workers and staff at the commissioned bank.

In case of the termination of the labor relationship between the unit and a worker or staff, the unit shall undertake the alteration registration at the managing center of housing provident fund within 30 days of the termination of the labor relationship, and shall, on the basis of the verification documents of the managing center of housing provident fund, undergo the procedure of transferring or sealing up the account of housing provident fund at the commissioned bank.

Article 16 The monthly amount of housing provident fund paid and deposited by a worker or staff equals to the product of his or her average monthly salary in last year timing the payment and deposit ratio of housing provident fund of the worker or staff.

The monthly amount of housing provident fund paid and deposited by a unit for a worker or staff equals to the product of the average monthly salary of the worker or staff in last year timing the payment and deposit ratio of housing provident fund of the unit.

Article 17 A new worker or staff shall begin to pay and deposit the housing provident fund from the second month after his or her beginning of work, the monthly amount of payment and deposit equals to the product of his or her salary in this month timing the payment and deposit ratio of housing provident fund of the worker or staff.

A newly transferred into worker or staff of a unit shall begin to pay and deposit the housing provident fund from the day on which the new unit pays him salary, the monthly amount of payment and deposit equals to the product of his or her salary in this month timing the payment and deposit ratio of housing provident fund of the worker or staff.

Article 18 The payment and deposit ratio of housing provident fund of a worker and staff as well as a unit shall not be less than 5% of the monthly average salary in the last year; cities with good circumstances may properly raise the payment and deposit ratio. The specific payment and deposit ratio shall be drawn out by the housing committee, and then, after being verified by the people's government at the same level, be submitted to the people's government of a province, an autonomous region or a municipality directly under the Central Government for approval.

Article 19 The housing provident fund to be paid and deposited by a worker or staff shall be withheld monthly from his or her salary by the unit to which he belongs.

The unit shall collectively pay the housing provident fund that is paid and deposited by the unit and that is withheld for its workers and staff into the special bank account of housing provident fund within 5 days from the payday every month, which shall be calculated into the account of housing provident fund of workers and staff by the commissioned bank.

Article 20 A unit shall timely pay and deposit housing provident fund in full amount, and shall not pay and deposit it after the expiration of the time period or pay it not in full amount.

If the unit has difficulty in paying housing provident fund, through the discussion by the worker representative conference or the labor union, after verification of the managing center of housing provident fund and approval of the housing committee, it can lower the ratio of payment or defer the payment. When the business running is better, the ratio shall be raised and the housing provident fund be repaid.

Article 21 The housing provident fund shall be calculated interest according to the prescribed interest rate of the State from the day when it is deposited into the housing provident fund account of workers and staff.

Article 22 The managing center of housing provident fund shall issue valid certificates certifying the payment and deposit of housing provident fund to the workers and staff who have paid and deposited housing provident funs.

Article 23 The housing provident fund paid and deposited by a unit for its workers and staff shall be listed as outlay according to the following provisions:

(1) an organ shall list it into budget;

(2) an institution shall list it into budget or expense after the verification of income and expenditure by the financial department;

(3) an enterprise shall list it as cost

Chapter Four Withdrawal and Use

Article 24 Under any one of the following circumstances, a worker or staff may withdraw the remaining money in the housing provident fund account of a worker or staff:

(1) buying, building, overhauling or repairing the house for self living;

(2) retirement;

(3) completely losing the ability to work and terminating the labor relation with the former unit;

(4) registered permanent residence being transferred out of the former city or county or settling in any foreign country;

(5) repaying the loan and its interest for buying a house;

(6) the rent for the house exceeds the prescribed ratio of a family's salary.

Where the housing provident fund of a worker or staff is withdrawn according to the provisions of the Sub-paragraphs (2), (3) and (4) of the preceding paragraph, the account of housing provident fund of the said worker or staff shall be cancelled at the same time.

Where a worker or staff is dead or is declared dead, his heir and devisee may withdraw the remaining money in the housing provident fund account of the worker or staff; where there is no heir or beneficiary of will, the remaining money in the housing provident fund account of the worker or staff shall be merged into the value-added proceeds of housing provident fund

Article 25 Where a worker or staff withdraws the remaining money in the housing provident fund account of the worker or staff, the unit to which he belongs shall undertake verification and issue a certification of withdrawal.

The worker or staff shall, on the basis of the certification of withdrawal, apply to the managing center of housing provident fund for withdraw housing provident fund. The managing center shall make a decision of withdrawal or non-withdrawal within 3 days of the acceptance of the application and inform the worker or staff; where the withdrawal id approved, the commissioned bank shall undergo the procedures of payment.

Article 26 When buying, building, overhauling or repairing a house for self living, a worker or staff paying and depositing housing provident fund may apply to the managing center of housing provident fund for the loan of housing provident fund.

The managing center of housing provident fund shall make the decision of granting or not granting the loan with 15 days of the acceptance of the application and inform the applicant; where the loan is granted, the commissioned bank shall undergo the procedures for loan.

The risk arising from the loan of housing provident fund shall be borne by the managing center of housing provident fund.

Article 27 An applicant applying for the loan of housing provident fund shall offer guarantee.

Article 28 Under the prerequisite of ensuring the withdrawal and loan of housing provident fund, the managing center of housing provident fund may, upon the approval of the housing committee, use the housing provident fund to buy the national debt.

The managing center of housing provident fund shall not offer guarantee for others.

Article 29 The value-added proceeds of housing provident fund shall be deposited into the special account of value-added proceeds of housing provident fund opened in the commissioned bank by the managing center of housing provident fund, and shall be used for establishing the risk preparation fund of the loan of housing provident fund, for administrative expenditure of the managing center of housing provident fund and for supplementary fund of building urban cheaply renting houses.

Article 30 With respect to the administrative expenditure of a managing center of housing provident fund, the managing center shall, according to the prescribed standard, make a budget of whole amount of expenditures through the year, and submit it to the financial department of the people's government at the same level for approval, handed over to the finance at the same level from the increased benefit of housing provident fund and appropriated by the finance at the same level.

The standard for administrative expenditure of a managing center is to be set on the basis of the standard slightly higher than the State prescribed stand for institutions by the competent department of construction administration under the people's government of a province, an autonomous region or a municipality directly under the Central Government, together with the financial department at the same level, and financial department in charge at the same level.

Chapter Five Supervision

Article 31 The financial department of the relevant local people's government shall strengthen the supervision on the collection, withdrawal and use of housing provident fund within its administrative region and makes report to the housing committee of the people's government at the same level.

When making the plan for collecting and using the housing provident fund, the managing center of housing provident fund shall solicit the opinion of the financial department.

The financial department must participate in the examination and approval of the report on the plan for collecting and using housing provident fund and the implementation of the plan by the housing committee.

Article 32 The annual budget and settlement of housing provident fund made by the managing center of housing provident fund shall, after being verified by the financial department, be submitted to the housing committee for examination and discussion.

Every year the managing center of housing provident fund shall regularly send the financial report to the financial department and the housing committee and publicize it to society.

Article 33 The managing center of housing provident fund shall subject itself to the supervision through auditing from the audit department.

Article 34 The managing center of housing provident fund and its workers and staff are entitled to supervise and urge a unit to fulfill the following duties in time:

(1) the payment and deposit registration of housing provident fund or the registration of its alteration or termination;

(2) the opening, transferring and sealing up of the housing provident fund account;

(3) paying and depositing housing provident fund in full amount.

Article 35 The managing center of housing provident fund shall supervise and urge the commissioned bank to timely handle the business agreed upon in the commission contract.

The commissioned bank shall, according to the agreement in the commission contract, regularly provide the relevant data to the managing center of housing provident fund.

Article 36 Workers and staff as well as units are entitled to make inquiries about the payment, deposit and withdrawal of their own housing provident fund, the managing center of housing provident fund and the commissioned bank shall not refuse the inquiries.

Where a worker or staff or a unit has any objections to the remaining money in the housing provident fund account, he or it may apply to the commissioned bank to recheck; where having objections to the recheck result, he or it may apply to the managing center of housing provident fund to recheck again. The managing center of housing provident fund and the commissioned bank shall give a written reply within 5 days of the receipt of the application.

Workers and staff are entitled to disclose, impeach and indict the act of misappropriating housing provident fund.

Chapter Six Penalty Provisions

Article 37 Where a unit, in violation of the provisions of these Regulations, fails to make the payment and deposit registration of housing provident fund or fails to undergo the procedure for its workers and staff to open the housing provident fund account, the managing center of housing provident fund shall order it to be undertaken within a specified time limit; where it is not undertaken by the expiration of the specified time limit, a fine of not less than 10,000 yuan nor more than 50,000 yuan shall be imposed.

Article 38 Where a unit, in violation of the provisions of these Regulations, fails to pay or pays not in full amount the housing provident fund by the expiration of the time limit, the managing center of housing provident fund shall order it to be paid and deposited within a specified time limit; where it is not paid and deposited yet by the expiration of the specified time limit, compulsory enforcement by the people's court may be applied.

Article 39 Where, in violation of the provisions of these Regulations, the housing provident fund is appropriated, it shall be recovered; where there are any illegal gains, such illegal gains shall be confiscated and merged into housing provident fund; where a crime is constituted, criminal liability shall be investigated according to law; where no crime is constituted, administrative sanctions shall be imposed upon the persons in charge directly responsible and the other direct responsible persons.

Article 40 Where the managing center of housing provident fund, in violation of the provisions of these Regulations, offers guarantee for others, the persons in charge directly responsible and the other direct responsible persons shall be imposed administrative sanctions.

Article 41 In the work of supervision and administration of housing provident fund, functionaries in State organs who abuse their powers, neglect their duties or practice favoritism shall be investigated for criminal liabilities where crimes are constituted; where no crime is constituted, administrative sanctions shall be imposed.

Chapter Seven Supplementary Provisions

Article 42 The measures for financial management and accounting of housing provident fund are to be formulated by the financial department of the State Council in consultation with the construction department of the State Council.

Article 43 The unit that has not make the payment and deposit registration of housing provident fund or has not undergone the procedure of opening housing provident fund account of workers and staff before the effectiveness of these Regulations shall, within 60 days after the date of effectiveness of these Regulations, make the payment and deposit registration of housing provident fund with the managing center of housing provident fund, and undergo the procedure of opening housing provident fund account with the commissioned bank.

Article 44 These Regulations take effect as of the date of promulgation.