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Lanzhou Housing Provident Fund Policy Optimization: Increasing Withdrawal Limits and Flexibility
According to a report from the Lanzhou Daily, to better meet employees’ housing needs, the Lanzhou Housing Provident Fund Management Center has continued and optimized its phased withdrawal policy starting April 7, with the policy effective until April 6, 2027. The new policy increases the withdrawal limit for “other housing-related expenditures” to 20,000 yuan per person per year, removes certain restrictions, and also optimizes the policies for the renovation and redevelopment of aging urban neighborhoods and for purchasing-home withdrawals. The maximum withdrawal amounts are raised to 50,000 yuan, respectively, and for home purchases the maximum amount is increased to the sum of the purchase price and taxes. In addition, the Gansu Provincial Housing Funds Management Center implemented a new provident fund withdrawal policy on April 1. It adds new withdrawal scenarios such as paying the down payment for a secondhand home, and the policy is effective for one year.