To standardize management of lease price for housing provident fund invested public rental housing, Municipal Provident Fund Center enacted Measures on Management of Lease Price for Shanghai Provident Fund Management Center’s Public Rental Housing (Trial Implementation) (following abbreviated as Measures on Management of Lease Price in accordance with the municipal government’s implementation Instructions on Development of Public Rental Housing in the Municipality, Implementation Instructions on Comprehensive Construction, Integrated Operation and Classified Arrangement of Low-Rental Housing and Public Rental Housing in the Municipality and other relevant documents. The Measures shall be officially put into effect upon issuance.

Measures on Management of Lease Price clearly stated that actual lease price for SPFMC invested public rental housing is determined based on the principle of abiding by market appraisal and leasing below market price, which varies with apartment type. Lease price shall be revised once a year, with a report filed with the municipal price bureau and the municipal security housing & housing administration bureau before being made public to the society. Each fiscal year for price implementation starts on April 1, and ends on March 31. Those lease contracts signed during the period shall employ the lease price declared for the fiscal year. The lease price and the security deposit shall not be adjusted within the valid period of two years after the leaseholder has signed the lease contract.

The PF Center invested Shang Jing Yuan at Xin Jiang Wan debuted in May 2012, and the two-year lease term has matured. The Center has filed a report on 2014 lease price for Shang Jing Yuan public rental housing at Xin Jiang Wan with the municipal price bureau and the municipal security housing & housing administration bureau in accordance with Measures on Management of Lease Price, with an average lease price at RMB 41.45 yuan per square meter of building area per month, and a valid lease term through 31 March 2015.