In accordance with relevant provisions of the Regulations on Housing Provident Fund Administration of the State Council and the Provisions of Shanghai Municipality on Housing Provident Fund Administration and after deliberation and ratification by the 42^nd plenary meeting of the Municipal Housing Provident Fund Management Committee, adjustment of housing provident fund payment base and upper and lower limits of monthly payment amounts shall be initiated on 1^st July in this Municipality.

As of 1^st July 2014, the housing provident fund payment base for employees of this Municipality shall be adjusted from average monthly salaries of 2012 to average monthly salaries of 2013. For fiscal year 2014, the upper limit of housing provident fund monthly payment amount is 2116 yuan, and 3626 yuan is set as the upper limit of housing provident fund monthly payment amount for owners of individual industrial & commercial household businesses.

The payment rates of employees and units for fiscal year 2014’s housing provident fund shall both remain at 7%, and the payment rates for additional housing provident fund shall both remain within 1-8 pct range. Those units indeed having difficulties in housing provident fund payment may proceed to apply for reduced payment rates or postponed housing provident fund payment.

From 2014 on, housing provident fund payment base adjustment of this Municipality shall fully adopt the online approach. All units are requested to log onto the ad-hoc Basis Adjustment Column of Shanghai Housing Provident Fund Website (www.shgjj.com) to fulfill necessary procedures.