Employees from Hong Kong, Macao to gain access to mainland housing fund

BEIJING - Employees from Hong Kong and Macao will be granted equal rights to the housing provident fund on the Chinese mainland, the Hong Kong and Macao Affairs Office of the State Council announced Monday.

Employees from the two areas will be allowed to deposit and withdraw from the public provident fund and apply for housing loans as mainland residents do, according to a guideline issued by departments, including the Ministry of Housing and Urban-Rural Development.

Under current regulations, urban residents on the mainland, together with their employers, pay a portion of their incomes into the housing provident fund to be eligible for low-interest housing loans. The fund can also be used for rent and renovations.

The policy is among the latest of central government measures to create convenience for people from Hong Kong and Macao to develop mainland careers.

The education authority set up scholarships dedicated to students from Hong Kong and Macao to sponsor them to study on the mainland, with larger quotas and more money.

The National Social Science Fund will be also open to applicants from Hong Kong and Macao, who work in universities or scientific research institutions on the mainland.