Core Viewpoint - The "intergenerational mutual assistance" policy for housing provident funds is gaining attention as a response to the deep adjustment period in the real estate market, allowing direct relatives to share account balances for down payments or mortgage repayments, marking a shift from "single housing support" to "family livelihood security" [1][6]. Group 1: Policy Implementation and Impact - Multiple regions have introduced the mutual assistance policy, with 166 contributors in Gansu extracting 31.5144 million yuan within four months, indicating the policy's effectiveness in alleviating housing pressure [2]. - The policy aims to lower the financial burden of home purchases for families and improve the efficiency of provident fund usage, especially as some elderly individuals no longer buy homes, leaving funds idle [2][3]. - The mutual assistance policy allows for broader funding sources, including family members' provident fund accounts, and prioritizes the use of the borrower's own account before tapping into relatives' accounts [3]. Group 2: Regulatory Concerns and Recommendations - Concerns about potential violations and arbitrage opportunities exist, such as fictitious purchases or circular transactions to extract funds from relatives' accounts [4]. - Recommendations for improving regulatory oversight include ensuring closed-loop funding, setting withdrawal limits, and implementing punitive measures for violations [4][5]. Group 3: Broader Trends in Provident Fund Policy - The mutual assistance policy reflects a broader reform of the housing provident fund system, transitioning from a "housing purchase exclusive tool" to a "comprehensive livelihood security" approach [6]. - Since January 2025, many regions have adjusted provident fund policies, including lowering loan rates, increasing loan limits, and relaxing withdrawal conditions, with nearly 150 policy adjustments reported in the first half of the year [6][8]. - The usage scenarios for provident funds are expanding beyond home purchases to include rental payments and housing renovations, with initiatives like direct rental payments being implemented [6][7]. Group 4: Future Directions and Innovations - Current innovations in provident fund policies include expanding coverage to self-employed individuals, allowing lower contribution rates for struggling businesses, and supporting various housing-related expenses [7]. - The 2024 national housing provident fund report indicates a total deposit of approximately 3.6 trillion yuan and a withdrawal amount of about 2.8 trillion yuan, with a withdrawal rate of 76.15%, slightly down from the previous year [8].