The affordable housing of new citizens and young people has always been a concern for housing provident fund holders. In recent years, in order to alleviate the temporary housing difficulties faced by this group, covering policies have been continuously adjusted related to housing provident fund deposit, withdrawal and loans by Ningbo Housing Provident Fund Management Center Beilun Branch (hereinafter to be referred as the Branch), to fully support new citizens and young people to settle down in Beilun.

Xiao Zhang, who had just started working in Beilun, felt a bit economically pressured to rent a house. After learning that she could withdraw up to 2000 yuan of housing provident fund every month, she immediately downloaded Zheliban App to apply for a monthly rental withdrawal service. “The 2,000 yuan of monthly withdrawn provident fund would be used to pay rent, which would greatly improve my quality of life. " Xiao Zhang said with deep emotion.

“The monthly limit for rental withdrawals has been increased to 2,000 yuan, and the frequency of withdrawals has also changed from once a year to once a month or once in multiple months, as long as the starting month of withdrawal being later than the last rental withdrawal time and the longest withdrawal period not exceeding 12 months. It is very flexible and is able to meet the needs of different employees who have contributed their housing provident fund." said Wang Qi, Deputy Director of the Management Department of the Branch.

The good news is that the withdrawal application for rent has been changed from being made only at the administrative window to online independent application by Apps such as Zheliban and Alipay, and the review has also been upgraded from the original background manual review to the system automatic one, moreover, the withdrawal of funds would be transmitted in seconds. By July 31, 2024, a total of 108,400 rental withdrawals were made in Beilun district this year, totaling 472 million yuan. Among them, more than 108,200 people in the district successfully processed rental withdrawals for housing provident fund through online channels, covering an amount of 470 million yuan.

While the rental withdrawal policy helps them alleviate their living pressure, the new loan policy brings significant benefits to new citizens and young people who are about to buy a house. In May 2023, a new supporting policy of housing provident fund for newly-settled talents were introduced in Ningbo. As for full-time undergraduate graduates, master's graduates, senior and above level talents who work in Ningbo and contribute to the housing provident fund, if they purchase self occupied housing for the first time within Ningbo city and apply for housing provident fund loans, the loan amount can be increased by 20%, 30% or 50% accordingly based on the current maximum loan limit, and the amount can be calculated in combination with other preferential support policies.

The favorable measures has became larger since July 9th this year, not only the loan limit has been lifted, loan interest rates has been reduced and the down payment ratio has been lowered. In mid July this year, citizen Xiao Luo was interested in a house in Beilun District. Due to financial pressure, she applied for a housing provident fund loan. As it was her first self occupied house, the down payment ratio was only 20%, and the loan amount was increased from 15 times the previous account balance to 20 times. “The housing provident fund loan I applied for is longer than 5 years, whose interest rate is only 2.85%. Thanks to the housing provident fund policy, I have fulfilled my dream of owning a house for many years! "Xiao Luo said happily.
     “You would be qualified to apply for a housing provident fund loan after continuously depositing housing provident fund for 6 months.” The person in charge of the Branch said. If the loan amount for employees' personal housing provident fund loans is less than 250,000 yuan, the minimum guarantee amount will be calculated at 250,000 yuan per household. By July 31st, 177 employees who have contributed housing provident fund have enjoyed the housing consumption policy for talent introduction through provident fund loans, amounting to a total loan of 191 million yuan.

In recent years, with the vigorous development of new economic formats such as live streaming e-commerce, ride hailing, and food delivery and errand running, the scale of flexible employees has been growing. In order to help them achieve their "housing dream", since May this year, a new policy on the management of flexible employees’  housing provident fund issued by Ningbo has been implemented by the Branch, which has continuously optimized and adjusted the housing provident fund deposit channels for flexible employees, young people and other groups, ensuring that more employees in new economic formats are included in the scope of housing provident fund system protection, and providing support for cultivating and developing the housing consumption market.

After leaving the previous company, Xiaoyang had thought he couldn't contribute to the housing provident fund. Upon learning of the new policy allowing flexible employees to contribute independently, he happily went to Housing Provident Fund Office in Beilun district to handle the payment. “I am planning to start my own business and would contribute to the housing provident fund on my own. The contribution amount can also be determined by myself, and I can still enjoy the benefits by the housing provident fund policy after making the contribution. It is very convenient." Said Xiaoyang. 304 flexible employees in Beilun district have contributed to the housing provident fund by the end of July this year, and a total of 20 flexible employee provident fund loans have been made, totaling 13.577 million yuan.

The prosperity of a city cannot be separated from the gathering of young talents. The continuous optimization and promotion of the housing provident fund preferential policy have supported the youth to settle down in Beilun, to work, start their businesses, and live comfortably.