Research On The Financial Operation Model Of Housing Accumulation Fund

Housing accumulation fund is a social housing security system which is established to meet the requirement of the market economy and it is a long-term housing mandatory savings system. As one of the most important aspects of housing system reformation in China, after more than ten years' stable development, it has played an important role in changing housing distributing system, improving workers' payment capacities, and promoting house construction and consumption. However, it also exits many problems while it maintains fast development. In view of these problems, based on the economic theory and the foreign countries'successful experience, this thesis suggests to improve the financial operation of housing accumulation fund of China by using the comparative and ratio analysis method comprehensively.First, on the basis of the mutual-aid theory and the compulsory saving theory, this thesis suggests setting up dynamic collecting ratio according to the development extent of different area and different income level, turning static collecting model to dynamic collecting model. Second, based on the portfolio theory, this thesis divides the deposits into agreement deposits, three months regular deposits and six months regular deposits. Then in the premise of keeping the liquidity of funds, this thesis gets the interval of deposits portfolio for inflation-proofing through the deposits portfolio analysis, and enhances the return ratio of the deposits portfolio through adjusting the interval of deposits portfolio. In addition, this thesis discusses the lower limit and upper limit of loan through break even analysis, and enhances the returns ratio of the assets portfolio and returns of the housing accumulation fund. Last, aims at the defects which the closed financial operation model brings, this thesis proposes that builds the national unified management platform of housing accumulation fund and brings out the movement of funds in the country, therefore, it solves extra worries of the human resources movement, realizes the objective of housing accumulation fund, and finally embodies the characteristics of cooperation and superiority of housing accumulation fund.