A Research On The China's Housing Accumulation Fund System

Real estate industry plays an important role in the development of economy and society. In developed market country, there exists integrated housing finance system to support real estate industry working well. The government has always been devoting itself to solving the housing problems of low-income house holders, and realizes "Home Ownership Scheme" in order to improve the social welfare and its political target through the policy housing financing system, which is indispensable.After establishment for more than ten years, the housing accumulation fund system has been the core step to reform housing system of China. In substance, it is a kind of housing ensured system as well as one style of capitalization of housing distribution and an effective path to improve the urban living conditions. The practice of housing accumulation fund system is beneficial to change the housing distribution, commercialize housing distribution, and change the economic frame and resident's concept of housing consumption.In the same time, the system exist many defects, such as lack of supervision, weak management, and ambiguous function of administrative center, which results in unbalance development. Many cases involving misappropriation of housing funds led to huge fund lost and caused new social unfairness. It obviously doesn't adapt to the housing finance system and departs from the target of housing finance system.In this thesis, I give some proposes about the reform on China's housing accumulation fund system, basing on the study and comparing the experience among Singapore public accumulation fund system, German and Eastern Europe housing saving system. In the long term, we should switch our housing accumulation system to the model of German housing saving system, which is based on voluntary savings more than compulsory savings.