Strategic Reorientation of the Housing Provident Fund System in the People's Republic of China

The objective of this report is to respond to the request of the Ministry of Housing and Urban-Rural Development (MOHURD), to assess the Housing Provident Fund (HPF) system, and provide recommendations on its positioning, strategy and future role i...

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Main Authors: Taffin, Claude, Friedemann, Roy, Kyung-Hwan, Kim
Format: Policy Note
Language:English
en_US
Published: World Bank, Washington, DC 2013
Subjects:
Online Access:http://documents.worldbank.org/curated/en/2011/07/16430407/people-s-republic-china-strategic-reorientation-housing-provident-fund-system-peoples-republic-china
http://hdl.handle.net/10986/12780
id okr-10986-12780
recordtype oai_dc
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
en_US
topic ACCOUNTING
ADMINISTRATIVE COSTS
AFFORDABILITY
AFFORDABLE HOUSING
ALLOCATION OF FUNDS
APPROVAL PROCEDURES
ARREARS
ASSET-LIABILITY MANAGEMENT
AUCTION
BALANCE SHEET
BANK FINANCING
BANK LOAN
BANK RATES
BANKING SYSTEM
BASIS POINTS
BORROWER
BORROWINGS
BRANCH NETWORK
BUSINESS CYCLES
BUSINESS MANAGEMENT
CADASTRE
CAPITAL MARKET
CASH FLOWS
CASH TRANSACTIONS
COMMERCIAL BANK
COMMERCIAL BANKS
COMMERCIAL LOAN
COMMERCIAL LOAN RATE
CONTRACTUAL SAVINGS
CORPORATE GOVERNANCE
CORRUPTION
COST OF CREDIT
CREDIT OPTION
CREDIT RISK
CREDITS
CREDITWORTHINESS
CROSS-SUBSIDIES
DEBT
DEBT COLLECTORS
DEDUCTIBLE
DEPOSIT
DEPOSITS
DISBURSEMENT
DISPOSABLE INCOME
DIVERSIFICATION
DOWN PAYMENT
E-GOVERNMENT
ECONOMIC GROWTH
ECONOMIES OF SCALE
EMPLOYEE
EMPLOYER
EMPLOYERS
ENFORCEMENT POWERS
EQUAL ACCESS
EXPENDITURE
FAMILIES
FINANCES
FINANCIAL ADVANTAGES
FINANCIAL ASSETS
FINANCIAL CRISIS
FINANCIAL INSTITUTION
FINANCIAL INSTITUTIONS
FINANCIAL INSTRUMENTS
FINANCIAL MANAGEMENT
FINANCIAL MARKET
FINANCIAL PERFORMANCE
FINANCIAL RISK
FINANCIAL RISKS
FINANCIAL SUSTAINABILITY
FIXED RATE
FLEXIBLE REPAYMENT
FLOATING RATES
FUND MANAGEMENT
FUNDING POOL
FUNDING SOURCE
FUNDING SOURCES
FUTURE LOAN
GOVERNMENT POLICIES
GOVERNMENT SECURITIES
GUARANTEED ACCESS
HOME BUYERS
HOME LOANS
HOME PURCHASE
HOME PURCHASES
HOUSEHOLD INCOME
HOUSEHOLDS
HOUSING FINANCE
HOUSING LOAN
HOUSING LOANS
HUMAN RESOURCE
INCOME GROUPS
INCOME TAX
INDIVIDUAL LOAN
INFLATION
INITIAL LOAN
INSTRUMENT
INTEREST RATE
INTEREST RATE REGIME
INTEREST RATE RISK
INTEREST RATES
INTEREST SUBSIDY
INVESTMENT FUNDS
LAND MARKET
LAND OWNERSHIP
LEGAL TOOL
LENDERS
LENDING LIMITS
LENDING POLICIES
LIABILITY
LIQUIDITY
LIQUIDITY CRISIS
LIQUIDITY MANAGEMENT
LIQUIDITY RATIOS
LIQUIDITY RISK
LOAN AMOUNT
LOAN AMOUNTS
LOAN APPLICATIONS
LOAN APPROVAL
LOAN CONDITIONS
LOAN CONTRACT
LOAN DEFAULTS
LOAN DEMAND
LOAN DOCUMENTATION
LOAN MATURITY
LOAN OFFICER
LOAN PERIOD
LOAN PORTFOLIO
LOAN PORTFOLIOS
LOAN PRODUCT
LOAN PRODUCTS
LOAN REPAYMENT
LOAN REQUEST
LOAN REQUESTS
LOAN TERM
LOAN UNDERWRITING
LOAN VOLUMES
LOAN-TO-DEPOSIT RATIO
LOAN-TO-DEPOSIT RATIOS
LOCAL GOVERNMENTS
LONG-TERM FUNDING
MARKET CONDITIONS
MARKET DEVELOPMENT
MARKET INTEREST RATES
MARKET MECHANISMS
MARKET PRICE
MARKET PRICES
MARKET SHARE
MARKET SHARES
MARKETING STRATEGIES
MATURITIES
MATURITY MISMATCH
MAXIMUM LOAN AMOUNT
MAXIMUM LOAN AMOUNTS
MEDICAL EXPENSES
MIGRANT WORKERS
MINIMUM WAGE
MONETARY AUTHORITY
MORTGAGE
MORTGAGE FINANCING
MORTGAGE INTEREST
MORTGAGE INTEREST RATES
MORTGAGE LENDER
MORTGAGE LENDERS
MORTGAGE LENDING
MORTGAGE LOAN
MORTGAGE LOANS
MORTGAGE MARKET
MORTGAGE MARKETS
NOMINAL INTEREST RATES
NON-PERFORMING LOANS
NOTARY
OPPORTUNITY COST
OPPORTUNITY COSTS
OUTSTANDING LOAN
OVERDUE LOANS
PARTNER BANK
PARTNER BANKS
PENSION
PENSION FUND
PENSION FUNDS
PERSONAL SAVINGS
PREPAYMENT
PREPAYMENT RISK
PRIVATE ENTERPRISES
PRIVATE LENDER
PRIVATE LENDERS
PROFITABILITY
PROPERTY MARKETS
PROPERTY TAX
PROVISIONING RULES
PURCHASING POWER
RATES OF RETURN
REAL ESTATE
REGULATORY AUTHORITY
REGULATORY FRAMEWORK
REGULATORY OVERSIGHT
REGULATORY STRUCTURE
REPAYMENT
REPAYMENT PERIOD
REPAYMENT RATE
REPAYMENT SCHEDULE
REPAYMENTS
RESERVES
RESIDENTIAL LOANS
RISK CONTROL
RISK DIVERSIFICATION
RISK MANAGEMENT
SAVINGS
SAVINGS ACCOUNT
SAVINGS ACCOUNTS
SAVINGS PRODUCT
SAVINGS PRODUCTS
SAVINGS RATES
SOCIAL SECURITY
SOLVENCY
STABLE INTEREST RATE
SUBSIDIZATION
SUPERVISORY AUTHORITIES
SUPERVISORY BOARD
TAX EXEMPTION
TERM DEPOSIT
TRADE UNIONS
TRANSPARENCY
TREASURY
TREASURY BONDS
TURNOVER
UNEMPLOYMENT
UNEMPLOYMENT INSURANCE
UNION
URBAN AREA
URBAN AREAS
URBAN CREDIT
WITHDRAWAL
WITHDRAWAL OF FUNDS
spellingShingle ACCOUNTING
ADMINISTRATIVE COSTS
AFFORDABILITY
AFFORDABLE HOUSING
ALLOCATION OF FUNDS
APPROVAL PROCEDURES
ARREARS
ASSET-LIABILITY MANAGEMENT
AUCTION
BALANCE SHEET
BANK FINANCING
BANK LOAN
BANK RATES
BANKING SYSTEM
BASIS POINTS
BORROWER
BORROWINGS
BRANCH NETWORK
BUSINESS CYCLES
BUSINESS MANAGEMENT
CADASTRE
CAPITAL MARKET
CASH FLOWS
CASH TRANSACTIONS
COMMERCIAL BANK
COMMERCIAL BANKS
COMMERCIAL LOAN
COMMERCIAL LOAN RATE
CONTRACTUAL SAVINGS
CORPORATE GOVERNANCE
CORRUPTION
COST OF CREDIT
CREDIT OPTION
CREDIT RISK
CREDITS
CREDITWORTHINESS
CROSS-SUBSIDIES
DEBT
DEBT COLLECTORS
DEDUCTIBLE
DEPOSIT
DEPOSITS
DISBURSEMENT
DISPOSABLE INCOME
DIVERSIFICATION
DOWN PAYMENT
E-GOVERNMENT
ECONOMIC GROWTH
ECONOMIES OF SCALE
EMPLOYEE
EMPLOYER
EMPLOYERS
ENFORCEMENT POWERS
EQUAL ACCESS
EXPENDITURE
FAMILIES
FINANCES
FINANCIAL ADVANTAGES
FINANCIAL ASSETS
FINANCIAL CRISIS
FINANCIAL INSTITUTION
FINANCIAL INSTITUTIONS
FINANCIAL INSTRUMENTS
FINANCIAL MANAGEMENT
FINANCIAL MARKET
FINANCIAL PERFORMANCE
FINANCIAL RISK
FINANCIAL RISKS
FINANCIAL SUSTAINABILITY
FIXED RATE
FLEXIBLE REPAYMENT
FLOATING RATES
FUND MANAGEMENT
FUNDING POOL
FUNDING SOURCE
FUNDING SOURCES
FUTURE LOAN
GOVERNMENT POLICIES
GOVERNMENT SECURITIES
GUARANTEED ACCESS
HOME BUYERS
HOME LOANS
HOME PURCHASE
HOME PURCHASES
HOUSEHOLD INCOME
HOUSEHOLDS
HOUSING FINANCE
HOUSING LOAN
HOUSING LOANS
HUMAN RESOURCE
INCOME GROUPS
INCOME TAX
INDIVIDUAL LOAN
INFLATION
INITIAL LOAN
INSTRUMENT
INTEREST RATE
INTEREST RATE REGIME
INTEREST RATE RISK
INTEREST RATES
INTEREST SUBSIDY
INVESTMENT FUNDS
LAND MARKET
LAND OWNERSHIP
LEGAL TOOL
LENDERS
LENDING LIMITS
LENDING POLICIES
LIABILITY
LIQUIDITY
LIQUIDITY CRISIS
LIQUIDITY MANAGEMENT
LIQUIDITY RATIOS
LIQUIDITY RISK
LOAN AMOUNT
LOAN AMOUNTS
LOAN APPLICATIONS
LOAN APPROVAL
LOAN CONDITIONS
LOAN CONTRACT
LOAN DEFAULTS
LOAN DEMAND
LOAN DOCUMENTATION
LOAN MATURITY
LOAN OFFICER
LOAN PERIOD
LOAN PORTFOLIO
LOAN PORTFOLIOS
LOAN PRODUCT
LOAN PRODUCTS
LOAN REPAYMENT
LOAN REQUEST
LOAN REQUESTS
LOAN TERM
LOAN UNDERWRITING
LOAN VOLUMES
LOAN-TO-DEPOSIT RATIO
LOAN-TO-DEPOSIT RATIOS
LOCAL GOVERNMENTS
LONG-TERM FUNDING
MARKET CONDITIONS
MARKET DEVELOPMENT
MARKET INTEREST RATES
MARKET MECHANISMS
MARKET PRICE
MARKET PRICES
MARKET SHARE
MARKET SHARES
MARKETING STRATEGIES
MATURITIES
MATURITY MISMATCH
MAXIMUM LOAN AMOUNT
MAXIMUM LOAN AMOUNTS
MEDICAL EXPENSES
MIGRANT WORKERS
MINIMUM WAGE
MONETARY AUTHORITY
MORTGAGE
MORTGAGE FINANCING
MORTGAGE INTEREST
MORTGAGE INTEREST RATES
MORTGAGE LENDER
MORTGAGE LENDERS
MORTGAGE LENDING
MORTGAGE LOAN
MORTGAGE LOANS
MORTGAGE MARKET
MORTGAGE MARKETS
NOMINAL INTEREST RATES
NON-PERFORMING LOANS
NOTARY
OPPORTUNITY COST
OPPORTUNITY COSTS
OUTSTANDING LOAN
OVERDUE LOANS
PARTNER BANK
PARTNER BANKS
PENSION
PENSION FUND
PENSION FUNDS
PERSONAL SAVINGS
PREPAYMENT
PREPAYMENT RISK
PRIVATE ENTERPRISES
PRIVATE LENDER
PRIVATE LENDERS
PROFITABILITY
PROPERTY MARKETS
PROPERTY TAX
PROVISIONING RULES
PURCHASING POWER
RATES OF RETURN
REAL ESTATE
REGULATORY AUTHORITY
REGULATORY FRAMEWORK
REGULATORY OVERSIGHT
REGULATORY STRUCTURE
REPAYMENT
REPAYMENT PERIOD
REPAYMENT RATE
REPAYMENT SCHEDULE
REPAYMENTS
RESERVES
RESIDENTIAL LOANS
RISK CONTROL
RISK DIVERSIFICATION
RISK MANAGEMENT
SAVINGS
SAVINGS ACCOUNT
SAVINGS ACCOUNTS
SAVINGS PRODUCT
SAVINGS PRODUCTS
SAVINGS RATES
SOCIAL SECURITY
SOLVENCY
STABLE INTEREST RATE
SUBSIDIZATION
SUPERVISORY AUTHORITIES
SUPERVISORY BOARD
TAX EXEMPTION
TERM DEPOSIT
TRADE UNIONS
TRANSPARENCY
TREASURY
TREASURY BONDS
TURNOVER
UNEMPLOYMENT
UNEMPLOYMENT INSURANCE
UNION
URBAN AREA
URBAN AREAS
URBAN CREDIT
WITHDRAWAL
WITHDRAWAL OF FUNDS
Taffin, Claude
Friedemann, Roy
Kyung-Hwan, Kim
Strategic Reorientation of the Housing Provident Fund System in the People's Republic of China
geographic_facet East Asia and Pacific
China
description The objective of this report is to respond to the request of the Ministry of Housing and Urban-Rural Development (MOHURD), to assess the Housing Provident Fund (HPF) system, and provide recommendations on its positioning, strategy and future role in the overall housing policy. The report focuses on a strategic review of the HPF system and its strategy, mission, and operational structure, and then analyses the market in which the individual HPFs operate. It provides recommendations on the realignment of the HPF system in view of the changed market conditions. The recommendations encompass the overall policy goal of the HPF system, including regulation and supervision, modifications to the current products offered by the HPFs, and improvements in the operational structure (e.g. organizational set-up, technical capabilities of management and staff, liquidity and risk management). The report concludes by citing international experiences with housing provident systems/credit linked savings systems in order to highlight useful links with the Chinese HPF system.
format Economic & Sector Work :: Policy Note
author Taffin, Claude
Friedemann, Roy
Kyung-Hwan, Kim
author_facet Taffin, Claude
Friedemann, Roy
Kyung-Hwan, Kim
author_sort Taffin, Claude
title Strategic Reorientation of the Housing Provident Fund System in the People's Republic of China
title_short Strategic Reorientation of the Housing Provident Fund System in the People's Republic of China
title_full Strategic Reorientation of the Housing Provident Fund System in the People's Republic of China
title_fullStr Strategic Reorientation of the Housing Provident Fund System in the People's Republic of China
title_full_unstemmed Strategic Reorientation of the Housing Provident Fund System in the People's Republic of China
title_sort strategic reorientation of the housing provident fund system in the people's republic of china
publisher World Bank, Washington, DC
publishDate 2013
url http://documents.worldbank.org/curated/en/2011/07/16430407/people-s-republic-china-strategic-reorientation-housing-provident-fund-system-peoples-republic-china
http://hdl.handle.net/10986/12780
_version_ 1764421395912065024
spelling okr-10986-127802021-04-23T14:03:04Z Strategic Reorientation of the Housing Provident Fund System in the People's Republic of China Taffin, Claude Friedemann, Roy Kyung-Hwan, Kim ACCOUNTING ADMINISTRATIVE COSTS AFFORDABILITY AFFORDABLE HOUSING ALLOCATION OF FUNDS APPROVAL PROCEDURES ARREARS ASSET-LIABILITY MANAGEMENT AUCTION BALANCE SHEET BANK FINANCING BANK LOAN BANK RATES BANKING SYSTEM BASIS POINTS BORROWER BORROWINGS BRANCH NETWORK BUSINESS CYCLES BUSINESS MANAGEMENT CADASTRE CAPITAL MARKET CASH FLOWS CASH TRANSACTIONS COMMERCIAL BANK COMMERCIAL BANKS COMMERCIAL LOAN COMMERCIAL LOAN RATE CONTRACTUAL SAVINGS CORPORATE GOVERNANCE CORRUPTION COST OF CREDIT CREDIT OPTION CREDIT RISK CREDITS CREDITWORTHINESS CROSS-SUBSIDIES DEBT DEBT COLLECTORS DEDUCTIBLE DEPOSIT DEPOSITS DISBURSEMENT DISPOSABLE INCOME DIVERSIFICATION DOWN PAYMENT E-GOVERNMENT ECONOMIC GROWTH ECONOMIES OF SCALE EMPLOYEE EMPLOYER EMPLOYERS ENFORCEMENT POWERS EQUAL ACCESS EXPENDITURE FAMILIES FINANCES FINANCIAL ADVANTAGES FINANCIAL ASSETS FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL MARKET FINANCIAL PERFORMANCE FINANCIAL RISK FINANCIAL RISKS FINANCIAL SUSTAINABILITY FIXED RATE FLEXIBLE REPAYMENT FLOATING RATES FUND MANAGEMENT FUNDING POOL FUNDING SOURCE FUNDING SOURCES FUTURE LOAN GOVERNMENT POLICIES GOVERNMENT SECURITIES GUARANTEED ACCESS HOME BUYERS HOME LOANS HOME PURCHASE HOME PURCHASES HOUSEHOLD INCOME HOUSEHOLDS HOUSING FINANCE HOUSING LOAN HOUSING LOANS HUMAN RESOURCE INCOME GROUPS INCOME TAX INDIVIDUAL LOAN INFLATION INITIAL LOAN INSTRUMENT INTEREST RATE INTEREST RATE REGIME INTEREST RATE RISK INTEREST RATES INTEREST SUBSIDY INVESTMENT FUNDS LAND MARKET LAND OWNERSHIP LEGAL TOOL LENDERS LENDING LIMITS LENDING POLICIES LIABILITY LIQUIDITY LIQUIDITY CRISIS LIQUIDITY MANAGEMENT LIQUIDITY RATIOS LIQUIDITY RISK LOAN AMOUNT LOAN AMOUNTS LOAN APPLICATIONS LOAN APPROVAL LOAN CONDITIONS LOAN CONTRACT LOAN DEFAULTS LOAN DEMAND LOAN DOCUMENTATION LOAN MATURITY LOAN OFFICER LOAN PERIOD LOAN PORTFOLIO LOAN PORTFOLIOS LOAN PRODUCT LOAN PRODUCTS LOAN REPAYMENT LOAN REQUEST LOAN REQUESTS LOAN TERM LOAN UNDERWRITING LOAN VOLUMES LOAN-TO-DEPOSIT RATIO LOAN-TO-DEPOSIT RATIOS LOCAL GOVERNMENTS LONG-TERM FUNDING MARKET CONDITIONS MARKET DEVELOPMENT MARKET INTEREST RATES MARKET MECHANISMS MARKET PRICE MARKET PRICES MARKET SHARE MARKET SHARES MARKETING STRATEGIES MATURITIES MATURITY MISMATCH MAXIMUM LOAN AMOUNT MAXIMUM LOAN AMOUNTS MEDICAL EXPENSES MIGRANT WORKERS MINIMUM WAGE MONETARY AUTHORITY MORTGAGE MORTGAGE FINANCING MORTGAGE INTEREST MORTGAGE INTEREST RATES MORTGAGE LENDER MORTGAGE LENDERS MORTGAGE LENDING MORTGAGE LOAN MORTGAGE LOANS MORTGAGE MARKET MORTGAGE MARKETS NOMINAL INTEREST RATES NON-PERFORMING LOANS NOTARY OPPORTUNITY COST OPPORTUNITY COSTS OUTSTANDING LOAN OVERDUE LOANS PARTNER BANK PARTNER BANKS PENSION PENSION FUND PENSION FUNDS PERSONAL SAVINGS PREPAYMENT PREPAYMENT RISK PRIVATE ENTERPRISES PRIVATE LENDER PRIVATE LENDERS PROFITABILITY PROPERTY MARKETS PROPERTY TAX PROVISIONING RULES PURCHASING POWER RATES OF RETURN REAL ESTATE REGULATORY AUTHORITY REGULATORY FRAMEWORK REGULATORY OVERSIGHT REGULATORY STRUCTURE REPAYMENT REPAYMENT PERIOD REPAYMENT RATE REPAYMENT SCHEDULE REPAYMENTS RESERVES RESIDENTIAL LOANS RISK CONTROL RISK DIVERSIFICATION RISK MANAGEMENT SAVINGS SAVINGS ACCOUNT SAVINGS ACCOUNTS SAVINGS PRODUCT SAVINGS PRODUCTS SAVINGS RATES SOCIAL SECURITY SOLVENCY STABLE INTEREST RATE SUBSIDIZATION SUPERVISORY AUTHORITIES SUPERVISORY BOARD TAX EXEMPTION TERM DEPOSIT TRADE UNIONS TRANSPARENCY TREASURY TREASURY BONDS TURNOVER UNEMPLOYMENT UNEMPLOYMENT INSURANCE UNION URBAN AREA URBAN AREAS URBAN CREDIT WITHDRAWAL WITHDRAWAL OF FUNDS The objective of this report is to respond to the request of the Ministry of Housing and Urban-Rural Development (MOHURD), to assess the Housing Provident Fund (HPF) system, and provide recommendations on its positioning, strategy and future role in the overall housing policy. The report focuses on a strategic review of the HPF system and its strategy, mission, and operational structure, and then analyses the market in which the individual HPFs operate. It provides recommendations on the realignment of the HPF system in view of the changed market conditions. The recommendations encompass the overall policy goal of the HPF system, including regulation and supervision, modifications to the current products offered by the HPFs, and improvements in the operational structure (e.g. organizational set-up, technical capabilities of management and staff, liquidity and risk management). The report concludes by citing international experiences with housing provident systems/credit linked savings systems in order to highlight useful links with the Chinese HPF system. 2013-03-15T17:36:52Z 2013-03-15T17:36:52Z 2011-07 http://documents.worldbank.org/curated/en/2011/07/16430407/people-s-republic-china-strategic-reorientation-housing-provident-fund-system-peoples-republic-china http://hdl.handle.net/10986/12780 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank World Bank, Washington, DC Economic & Sector Work :: Policy Note Economic & Sector Work East Asia and Pacific China