The Chinese city of Shanghai increased its maximum housing fund contribution base to 31,014 yuan (U.S. $4,795.44), based on calculations performed by Bloomberg Tax using contribution data (Chinese) released by the Shanghai Housing Provident Fund on their website.
The contribution increase went into effect July 1 and remains in effect until June 30, 2022.
The maximum housing contribution base is triple the average monthly salary of Shanghai employees the previous year, as calculated by the Shanghai Municipal Human Resources and Social Security Bureau. In 2020, the average monthly salary was 10,338 yuan (U.S. $1,598.48), according to a notice issued July ...
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.