China’s Housing Provident Fund Management Regulations Revised
The revised Regulations on the Administration of Housing Provident Fund officially came into effect on August 18, 2026, with a number of rules clearly adjusted.
The non-compliance cost for enterprises has risen significantly: under the old regulations, the fine range for failing to go through the payment registration procedures within the time limit was 10,000 to 50,000 yuan, while the new version of the Regulations directly raises the fine range to 50,000 to 300,000 yuan, greatly strengthening the restraint on enterprises' compliance registration.
Non-local services are fully accessible: under the old regulations, the procedures for the cross-city transfer and continuation of housing provident fund and loan application were cumbersome, with inconsistent rules across different regions. The new version clearly realizes the mutual recognition of national payment records, which greatly improves the convenience for employees to handle relevant services across cities.
The boundary of rights and responsibilities is further clarified: under the old regulations, employees usually needed to obtain a verification certificate issued by their employer to withdraw the housing provident fund, and some fraudulent withdrawal behaviors might even implicate the employer. The new version directly removes the link of the unit issuing the withdrawal certificate. The disciplinary measures for fraudulent withdrawal are only targeted at the violating employees themselves, who are prohibited from withdrawing or applying for loans within 3 years, and the enterprises are completely free from relevant liabilities.
Service efficiency has been greatly improved: under the old regulations, the statutory review period for housing provident fund loans was 15 working days, while the new version directly reduces it to 10 working days. The waiting period for employees applying for loans is significantly shortened, and enterprises no longer need to assist employees in repeatedly following up the approval progress.
Overall, this revision not only simplifies a large number of service links for enterprises and employees, but also clearly defines the compliance boundaries. As long as enterprises adjust their internal management procedures in a timely manner against the new rules, they can smoothly adapt to the requirements of the new regulations.
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