住房公积金去年提取近3万亿缴存余额超十万亿，咋提高使用率

Core Insights - The total accumulated housing provident fund contributions reached 32.79 trillion yuan by the end of 2024, with a balance of 10.93 trillion yuan and withdrawals amounting to 2.77 trillion yuan, highlighting a mismatch between deposits and withdrawals [1][5][9] - The report indicates that the housing provident fund system, introduced in the 1990s, has not achieved the same effectiveness as in Singapore, leading to discussions on improving its utilization efficiency [1][11] Contribution and Withdrawal Data - By the end of 2024, the total contributions to the housing provident fund were 36.32 trillion yuan, while the total withdrawals were 2.77 trillion yuan, resulting in a withdrawal rate of 76.15% [1][6][9] - The report shows that nearly a quarter of the withdrawals in 2024 were due to retirement, with 11.52 million people withdrawing a total of 687 billion yuan [7][9] Withdrawal Restrictions - The report outlines various conditions under which individuals can withdraw from the housing provident fund, including for housing rental, home purchase, and loan repayment, but emphasizes that many face significant barriers to accessing these funds [5][6][9] - In Beijing, for example, individuals must have contributed for at least three months and meet specific criteria to withdraw funds for rental purposes [6][9] Loan Market Insights - In 2024, 2.31 million personal housing loans were issued, totaling 1.30 trillion yuan, with 86.86% of these loans supporting first-time home purchases [9][10] - The market share of housing provident fund loans was reported at 17.64%, indicating a relatively low penetration in the overall housing loan market [9][10] Interest Rate Adjustments - The People's Bank of China announced a reduction in the housing provident fund loan interest rate by 0.25 percentage points, bringing the rate for first-time homebuyers to 2.60% [10][11] - Despite this adjustment, the competitive advantage of housing provident fund loans has diminished as commercial loan rates have also decreased [9][10] Recommendations for Reform - Experts have called for reforms to enhance the utilization of the housing provident fund, suggesting that the current system has significant funds lying dormant in accounts [13][14] - The report indicates ongoing efforts to include flexible employment workers in the housing provident fund system, with over 1 million participants in pilot cities by the end of 2024 [15][16]