Housing provident fund

Beijing residents who use matching funds from a company-provided housing allowance to pay their mortgage will be subject to higher down payments after the government adjusts the city's salary regulations, the Beijing Youth Daily reported.

According to the latest changes to the minimal standard of salaries issued by the Beijing Human Resources and Social Security Bureau, the proportion of the living wage is set to increase in April in relation to the amount allocated for mortgage payments. This means that buyers' borrowing power will decrease even as they pay a higher down payment. For example, a family paying 772 yuan ($125.74) monthly to match their housing allowance would have previously qualified for a mortgage of 800,000 yuan but now can only get a home loan of 750,000 yuan.