 The Housing Provident Fund, which is contributed to by employers and their staff in return for cut-rate mortgages, had 1.21 trillion yuan left over at the end of last year. And to make effective use of the money, the Ministry of Housing and Urban-Rural Development has proposed a trial plan to build houses for poorer citizens across China. Let's take a look at Media opinions.
'Modern Express' has published an article by Chun Hua, saying the public are not against using the housing provident fund for people's housing projects. However, Chun says the public are unsatisfied with the fact that the employees have to hand in applications when they want to use their housing provident fund, and the fund could be only withdrawn every six months. But, when the construction department has an idea for using the money, the process seems simpler, and they have no intention to ask opinions of housing fund owners.
A commentary in the 'Guangzhou Daily' by Ning yi says the housing provision fund is established to improve housing conditions of residents in cities and towns. Its main purpose should be providing low-rate mortgages for employees. Ni says the construction department now intends to make it an investment fund. He says the leftover money from the housing fund might be reduced, but the situation grant loans will still not change.
In the review on 'Xinhua Net', Xiao hua says people nowadays may move to other cities for work, or work in a city in which they don't live. Xiao says that means people might want to buy houses in a city which they are not working. In this case, Xiao says a scheme aimed at sharing funds among cities should be established.
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