Prioritize essential needs and ensure smooth operations

This article is reprinted from Wuzhou Daily

■ Zero-distance government inquiry

Prioritize ensuring basic needs and maintaining smooth operation

Question: Currently, the Wuzhou Housing Provident Fund Center has launched the “Commercial to Public Loan Business,” using self-raised funds for refinancing. However, many regions in China have implemented models such as mortgage transfer, sequential mortgage, and provident fund center advance payments for citizens to choose from. When will our city adopt similar practices from advanced areas, optimize policies, and further reduce the repayment pressure on the public?

Reply: Housing provident fund loans are policy-based low-interest loans. The transfer of personal housing loans from commercial banks to housing provident fund loans (hereinafter referred to as “commercial to public loan business”) is not a legally mandated service. Local housing provident fund management centers implement this service based on the scale of local housing fund funds.

The “commercial to public loan business” model mainly includes the “self-raised funds refinancing” model and the sequential mortgage model. Based on the actual scale of our city’s housing provident fund funds, to ensure the safe and stable operation of the fund and prioritize meeting the housing loan needs of employees with urgent needs, we are currently implementing the “self-raised funds refinancing” method. The direct “commercial to public loan” transfer without self-raising funds (i.e., the sequential mortgage model) that you mentioned, our center will study the feasibility of implementing this model in the future and will timely reflect your valuable suggestions to our city’s Housing Provident Fund Management Committee.

(Spokesperson from the Municipal Government Office)