Decision of the State Council on the Revision of the Administrative Regulations on the Housing Provident Fund
Decision of the State Council on the Revision of the Administrative Regulations on the Housing Provident Fund
Decision of the State Council on the Revision of the Administrative Regulations on the Housing Provident Fund
Order of the State Council of the People's Republic of China [2002] No. 350
March 24, 2002
The Decision of the State Council on the Revision of the Administrative Regulations on the Housing Provident Fund is released hereby and shall take effect as of the date of promulgation.
Premier of the State Council Zhu Rongji
The State Council decides to make the following amendments to the Regulations on Management of Housing Provident Fund:
Article 1 Paragraph 2 of Article 2 is revised to read as follows: "The term 'housing provident fund' as used in these Regulations refers to long-term housing savings paid and deposited by State organs, State-owned enterprises, collective enterprises in cities and towns, foreign-invested enterprises, private enterprises in cities and towns and other enterprises in cities and towns, institutions, private non-enterprise units and associations (hereinafter collectively referred to as 'units'), and by their on-the-job staff and workers."
Article 2 Paragraph 2 of Article 7 is revised to read as follows: "The competent administrative departments of construction of the people's governments of provinces and autonomous regions shall, jointly with the finance departments at the same level and the branches of the People's Bank of China, be responsible for supervising the implementation of the management regulations and policies of housing provident fund within their administrative areas."
Article 3 Article 8 is revised to read as follows: "Municipalities directly under the Central Government, cities where the people's governments of provinces or autonomous regions are situated and other cities divided into districts (prefectures, autonomous prefectures and leagues) shall establish housing provident fund management committees to serve as the policy-making organs for the management of housing provident fund.
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