As of 1 July 2017, the housing provident fund payment basis for employees of Shanghai Municipality shall be adjusted from average monthly salaries of 2015 to average monthly salaries of 2016 based on the data of employees’ average monthly salary for 2016 released by Shanghai Human Resources and Social Security Bureau. For fiscal year 2017, the upper limit of housing provident fund monthly payment amount is 2732 yuan, and 4682 yuan is set as the upper limit of housing provident fund monthly payment amount for owners and employees of individual businesses in urban areas as well as freelancers. The lower limit is 306 yuan. The upper limit of additional housing provident fund monthly payment amount is 1952 yuan.

The payment rates of employees and units for fiscal year 2017’s housing provident fund shall both remain at 7%, and their respective payment rates for additional housing provident fund, where applicable, shall be within 1-5% which decided by each unit.