Tibet's capital of Lhasa has extended housing provident fund loans of 140 million yuan RMB (20.4 million U.S. dollars) so far this year. (Xinhua Photo)Tibet's capital of Lhasa has extended housing provident fund loans of 140 million yuan RMB (20.4 million U.S. dollars) so far this year, according to the Lhasa Housing Provident Fund Management Center.
A total of 3,870 households in the city have used the loans to buy apartments.
A leading official of the center said, "The total amount of loans extended this year has doubled the target of 70 million yuan RMB (10.2 million dollars) set at the beginning of 2009. The figure is projected to exceed 200 million yuan RMB (29.2 million dollars) at the end of this year."
Since the line of credit was raised and the loan term was extended in May, more residents have applied for the housing provident fund loans, with the center handling dozens of applications per week.
Specifically, the line of credit has been raised from 150,000 yuan to 200,000 yuan for an individual employee and from 200,000 yuan to 300,000 yuan for a working couple. The term of the loan has been extended from five years to eight.
Besides, Tibet has introduced a software package to better manage and monitor housing provident fund loans.
Source: Xinhuanet
http://chinatibet.people.com.cn/6809953.pdf
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