Comment: Do Not Let Provident Fund Reform Become A Simple Rescue Tool.

Chen Zhenggao, Minister of housing and construction at the national teleconference held by the Ministry of housing and construction, said that the housing provident fund should be further lowered and the amount of provident fund loans increased. At the same time, the Ministry of housing will also provide housing to the public on a regular basis.

This year, the provident fund policy has undergone intensive adjustment. Since the housing provident fund is used to reduce the renting conditions, the new regulation of the national provident fund has been issued. As long as the provident fund lender has not withdrawn the fund in one year, the original "account balance is less than 20 thousand calculated by 20 thousand" and adjusted to "account balance less than 50 thousand calculated by 50 thousand". Local provident fund loan policy also tends to gradually liberalized. Fujian and Shandong Ji'nan recently issued a new housing provident fund regulations, loosened the limit of the provident fund loan.

Many analysts believe that lowering the threshold of housing provident fund is aimed at helping the depressed real estate market.

This is indeed one of the practical driving forces to reduce the threshold of housing provident fund. To cope with the downward pressure of economic growth, the real estate market cannot be left alone. The activation of the real estate market is also a familiar way of governance for local governments. After the decentralization of the housing market has basically been decentralized, it is a natural choice to reduce the housing provident fund threshold and stimulate the real estate market and give full play to the driving role of real estate for the economy.

However, if the motive of lowering the threshold of housing provident fund is only so, even if it achieves the expected effect in the short term, it may not last. In the long run, utilitarian policies will only disrupt market expectations and increase the repeatability of economic performance, leading to the marginal effect of policy use over express delivery. Such examples are numerous. In recent years, the local opening of the real estate market has failed to achieve the desired effect. Utilitarian policy Limitations.

Therefore, we should have a deeper understanding of lowering the threshold of housing provident fund. The reason why we should reduce the threshold of housing provident fund is first out of the need to safeguard personal property. Provident fund is essentially personal savings, and individuals should have relatively free disposal rights. In the past, the threshold of housing provident fund was too high, in fact, it restricted the property rights of citizens.

Secondly, lowering the threshold of housing provident fund is to improve the revitalize stock funds and improve the use of funds. efficiency Needs. Housing provident fund surplus huge, a large number of funds in the past sleep, not good governance. In order to ensure high-speed growth in the economy and to close the floodgates of liquidity, it is proper to make use of the stock fund, including housing accumulation fund, which is used in every field from the property market to the people's livelihood. If we reduce the threshold of housing provident fund too utilitarian, once the economic situation has changed, the property market once again bubble, whether to raise the threshold? This will only allow housing provident fund payers to be at a loss.

Third, reduce housing. Accumulation fund We must not forget the main theme of reform. The key to solve the housing provident fund is whether we can achieve transparent management, whether we can more effectively guarantee individual rights, whether the value added part can be allowed to be paid to employees, whether it can be nationally transferred and facilitate personal extraction. The newly issued housing accumulation fund should be a dynamic manifestation of reform, not just for what industry to support.

Even if the real challenges are severe, lowering the threshold of housing provident fund can not be alienated into a simple rescue tool, and its reform pursuit can not be changed. In this way, the housing provident fund system can ensure the nature of the public system and become a stable and reliable source of welfare for employees.