Analysis Of The Economics Of The Housing Accumulation Fund System

For the Chinese housing fund reform, it is a crucial measure to carry out Housing Provident Fund System. Since the city of Shanghai took the lead in Housing Provident Fund System, with the successful experience of Singaporean Central Provident Fund System, in 1991, this system has been completely extended in China. In the past ten years, Housing Provident Fund System plays an important role in deepening housing system reform, promoting development of property market, improving employee housing payment and solving the citizen housing problem.However, in recent years Housing Provident Fund System is criticized on its shortages of mutualness, security and equity—exhibiting on the narrow benefit of housing fund, low fund efficiency, inadequate aids on low-wage and middle-income payers and limited effect on adjusting property payment of affluent and poor and so on.Per the practice problems, this article fully and practically analyses the characters, system arranges, effects and limitations of Chinese Housing Provident Fund System and proves suggestions on system reform. With the references of Singaporean Central Provident Fund System, Germanic Housing Saving System and Australian Housing Finance System, article also points that Chinese Housing Provident Fund System should not be abolished but should be reformed and improved, in order to make sure it can effect more in a bigger areas.