The rate will be increased to 1.5 percent starting from Feb. 21, the People's Bank of China (PBOC) said in a statement. The current rate is 0.35 percent or 1.1 percent, depending on when the deposits were placed.
The housing provident fund is a saving program that allows employees and employers to set aside a portion of wages that can be used as mortgage deposits.
FTAV’s further reading
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Reservation scalping; flame-throwing robot dogs; Russian reserve
accumulation and Taylor Swift fandom
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