More than 30 cities pilot Provident Fund loan construction guarantee house controversy

"China Economic weekly" reporter Li Fengdao/Beijing reported a "good thing" to make effective use of idle funds to promote the construction of housing, in the pilot, but sparked a series of controversy.　　In October this year, the Ministry of Housing and Urban and rural construction of the Joint 7 Ministries issued the "on the Use of Housing Provident Fund loans to support the implementation of housing construction Pilot" (hereinafter referred to as "implementation of the opinion"), more than 30 cities nationwide began the pilot. At present, Beijing's pilot scheme has been approved by Beijing Housing Provident Fund Management Committee, will be reported to the housing and Urban and rural Ministry of construction approval.　　Once approved, the housing project developers can apply to the Provident Fund Management Center for loans.　　But at present, the fund managers, payers and experts still have different thinking. Reporter visited Beijing, a number of provident fund payers. Mr Li, who has been paying Provident funds for many years, says as long as it is to ensure that their rights are not compromised, it is natural to build more protection rooms, while Mr Zhou, who has come to work in Beijing, objected, "the foreign account cannot apply for the protection room in Beijing, why should we pay the Provident Fund to build a security room?" In fact, the relevant departments of the State have also early consideration, and in the "implementation of the opinion" clearly stipulates that the pilot city people's government in the formulation of pilot implementation plan, must be asked for payment of staff opinions.　　However, it is understood that many of the city's pilot implementation has been formed, and some even through the local government's consent, but not in the payment of staff to carry out research. And for the loan proceeds to who all, many people think, Provident Fund proceeds should be paid by all, but the reporter found in the actual investigation is not so. In the Beijing pilot's concrete implementation plan, the Provident Fund loan proceeds is submits to the city local finance Special Account, uses in the low-income people's low-rent housing construction and the subsidy.　　In other words, its income is not related to the Provident Fund payers. Beijing Housing Provident Fund Management Center, said that this is based on the Housing Provident Fund Management Ordinance (hereinafter referred to as "management Regulations") implemented. The regulation stipulates that the value-added benefits of Housing Provident Fund should be removed for the purpose of establishing the risk reserve and management cost of Housing Provident Fund Loan, and also as a supplementary fund for building Low-rent House.　　2008, Beijing Housing Provident Fund revenue reached 1.7 billion, through low-cost rental construction and subsidies, to help low-income families more than 10,000 households. Some experts have raised objections.　　Deputy Director of real Estate Economic Research center of Renmin University of China The Great view is that the benefits of Provident Fund loans to build low-cost housing, which is confusing the Provident Fund and the "public finances" concept.　　Moreover, for Provident Fund investment Risk, the Local Provident Fund Management Center and some experts and scholars also disagree. Beijing Housing Provident Fund Management Center spokesman, personally involved in the Beijing Housing Provident Fund Pilot Implementation plan formulated Li Ying said, "from the Beijing region, in the operation, we have completely put the risk to a minimum, it should be said to be absolutely safe." "The choice of the country to the pilot city, not only requires Provident fund, the Local Management center management perfect, but also stressed that the level of governmentFinancial capacity.　　In other words, if something happens, the government should "fallback".　　The leaders said that some experts ' concern was to "magnify" the risk, the Government for the protection of the choice of housing projects is very narrow, these housing, public rental housing projects have the support of government land, house prices are lower than commercial housing, and the government for lending has a strict level of approval, so there is no big risk. In fact, in the 2008 financial crisis, Guangzhou, Beijing has also appeared in the security room to sell the embarrassment.　　State of the great reporter said, as long as the financial loans, can not prevent the occurrence of bad debts. In fact, the relevant departments have been wary of this, not only the proportion of loans have been strictly limited, but also the annual total repayment can not exceed the Provident Fund Center value-added income. As of 2008, Beijing's Provident Fund is a total of 110 billion yuan, of which 50 billion yuan in the stock of funds, in the sufficient, in accordance with the provisions of the national pilot, of which 15% to protect the housing project loans, can provide loans of more than 10 billion.　　According to the 2008 earnings, the total repayment of Beijing will not exceed 1.7 billion yuan. Even so, experts worry that the government is both a provident fund lender and a security party, in the process of lending is likely to appear "officers." Chen, deputy director of the Center for Housing Policy Research at Fudan University, advises that the use of Provident Fund funds is either a complete government Act or a Business Act, and the two best separate, through the government to buy a provident fund to the developers to issue government bonds, so as to ensure the Central Provident Fund security.