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HPF Interest Calculation Ended for Previous Fiscal Year

Shanghai Provident Fund Management Center had completed the annual interest calculation for the previous fiscal year by 1 July 2016, pursuant to Notice of the People’s Bank of China, Ministry of Housing & Urban-Rural Development and Ministry of Finance on Bettering Housing Provident Fund Personal Account Deposit Interest Rate Formation Mechanism (BI No. 43-2016). The previous housing provident fund personal account deposit interest rates, tantamount to the demand deposit rate and three-month time deposit benchmark rate respectively, had be replaced by the unified rate equivalent to the one-year time deposit benchmark rate, namely, the annual interest rate of 1.5% for interest calculation. The interest,totaling 4.219 billion yuan for 9.327 million paying employees of the Municipality, has been determined and accurately and adequately recorded in employees’ personal housing provident fund accounts.

The Center is poised to provide the interest related 12329 SPF SMS service to paying employees free of charge. All paying employees may gain access to interest related personal housing provident fund account information through various live venues as follows:

   1. Service Offices of Shanghai Provident Fund Management Center;

   2. Service Offices of China Construction Bank;

   3. Shanghai Housing Provident Fund Website  ( );

   4. Automatic Voice Service of the SPF Hotline 12329;

   5. 12329 SPF SMS;

   6. SPF Mobile App;

   7. SPF Official WeChat Account;

   8. ATMs or multimedia self-service kiosks of China Construction Bank, Shanghai Bank, Shanghai Pudong Development Bank, Shanghai Rural Commerical Bank, China Bank of Communications and Agricultural Bank of China.

   Should any questions arise in this regard, please contact relevant Construction Bank or the provident fund center for verification, or call SPF Hotline 12329 for consultation.

   Please be duly notified.


Shanghai Provident Fund Management Center
5 July 2016