Core Viewpoint - Chongqing is focusing on housing consumption needs and optimizing housing provident fund policies to support residents in solving basic housing issues and boosting housing consumption [1][4]. Group 1: Housing Provident Fund Policies - As of July 24 this year, Chongqing's housing provident fund center has processed 10,827 commercial-to-public loan direct transfer transactions, amounting to 6.158 billion yuan, with a direct transfer ratio of 93% [6]. - The new direct transfer service for commercial-to-public loans significantly reduces the burden on borrowers by eliminating the need for upfront capital to pay off original commercial loans, thus streamlining the process [4][5]. - The initiative began with five major state-owned banks and will expand to include 16 banks by July 2025, enhancing accessibility for borrowers [4]. Group 2: Support for Flexible Employment - The number of flexible employment individuals with accounts has reached 474,300, with total contributions of 1.14 billion yuan, the highest in the country [7]. - A total of 173,800 withdrawals have been made, amounting to 447 million yuan, and 1,110 loans totaling 487 million yuan have been issued, saving approximately 42 million yuan in interest for flexible employment contributors [7]. - Policies have been upgraded four times to reduce contribution pressure and increase loan limits, with the minimum contribution period reduced from 24 months to 6 months and maximum loan amounts increased significantly [8].

Core Insights - The report indicates that in 2024, a total of 2.3056 million personal housing loans were issued, amounting to CNY 1.304307 trillion, with 86.86% of these loans supporting the purchase of first-time ordinary housing [1] - The number of active contributors to the housing provident fund increased by 342,400 units and 1.7407 million individuals, indicating a continuous expansion of the fund's contribution scale [1] Group 1: Support for Housing Consumption - In 2024, the amount withdrawn for rental housing reached CNY 272.057 billion, a year-on-year increase of 33.93%, with 22.5744 million individuals making withdrawals, up 22.28% from the previous year [2] - The report highlights that 6.53 million individuals were supported in withdrawing CNY 2.043 billion for the renovation of old urban residential areas, improving living conditions [2] - The market share of personal housing loans from the housing provident fund reached 17.64% by the end of 2024, with 21.3 million loans issued for inter-city borrowing, totaling CNY 111.964 billion [2] Group 2: Support for Affordable Housing Construction - In 2024, 76.94% of the allocated value-added income was used to supplement the construction of public rental (affordable) housing, with a cumulative funding of CNY 871.809 billion by the end of the year [2] Group 3: Policy Measures and Initiatives - The government has introduced policies to support contributors in purchasing and renting affordable housing, including a 0.25 percentage point reduction in personal housing loan interest rates to ease repayment pressure [3] - The report emphasizes the importance of optimizing local housing provident fund usage policies, particularly for first-time homebuyers and inter-city loan support [3] - A pilot program was expanded to include 23 new cities for flexible employment individuals, with over 1 million contributors participating in the housing provident fund by the end of 2024 [4]