Nanjing: Balance of the Provident Fund Account can Used as Pre-purchase Funds

The official website of the Nanjing Housing Provident Fund Management Center released the Implementation Rules for Optimising Nanjing's Regulations on Withdrawing Housing Provident Funds to Pay for House Purchases. The new regulation clarifies that employees and their spouses who have paid housing provident funds in Nanjing, purchase newly-built commercial housing in Nanjing and meet the withdrawal conditions for house purchases can sign an agreement with the development company to use the balance in their personal housing provident fund accounts as the pre-purchase funds. In addition, if the house-buying employees who purchase the stock housing in Nanjing meet the withdrawal conditions for house purchase, they can sign an agreement with the seller to use the balance in their personal housing provident fund account as the pre-purchase funds.