Lunch UP: Financing Affordable Housing through Compulsory Saving: The Two-Decade Experience of Housing Provident Fund in China
Presenter: Dr. Lan Deng
Housing Provident Fund (HPF), a compulsory saving scheme providing self-funded housing credit, is a significant provider of housing finance in several emerging economies. The Chinese HPF program constitutes the largest social housing finance program in the world. Yet very few studies have examined it. This paper documents the history of China’s HPF program, in particular, how it has evolved from a local experiment to a prominent national housing program. It then examines the program’s management structure and the role of HPF lending in meeting China’s housing finance needs. The paper also compares China’s HPF experience with the HPF practices in other countries. Finally the paper examines the challenges China’s HPF program faces today and the efforts to address them. The paper concludes by discussing some of the broader lessons that can be learned from China’s HPF experience.
These sessions are a response to requests from faculty and students to learn more about what’s going on in the field in an informal environment. We hope this can inspire emergent thoughts and connections that will inform our scholarship. If you have research you would like to present, or a provocative article you would like to discuss, please speak with Larissa Larsen, David Weinreich, or Carla Kayanan.