Hainan: Starting today, depositors' children purchasing their first home can apply to withdraw housing provident fund to pay for the house.

**Viewpoint News: **On April 1, the Hainan Provincial Housing Provident Fund Administration issued a notice titled “Notice on Carrying Out Housing Provident Fund Withdrawal Services for Housing Purchase by Beneficiaries’ Children of Housing Provident Fund Contributors,” officially implementing the new policy supporting children’s home purchases with housing provident funds.

According to the notice, for contributor families in Hainan Province that have no outstanding housing provident fund loans (including subsidized-interest loans), their children, starting from April 1, 2026, who purchase their family’s first home in Hainan Province (including newly built commercial housing and existing owner-occupied housing), may apply to withdraw housing provident fund to pay the home purchase payment.

In terms of specific implementation, contributors may, according to the payment method agreed in the purchase contract filed for online signature and registration, have the provident fund paid directly to the real estate developer or into the pre-sale funds regulatory account; if payments have already been made using self-raised funds, the provident fund may be transferred to the applicant’s bank account. When withdrawing, the balance in the children’s family account should be used first; only the shortfall may be withdrawn from the contributor’s account balance, and the total amount withdrawn by both families may not exceed the home purchase payment already made.

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(Editor: Dong Pingping )

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