Foreigners, overseas Chinese with permanent or long-term residency abroad, as well as residents in China's Taiwan, Hong Kong and Macao can now avail of housing provident fund in Shanghai if they are employed by local employers with regular working and residency permits in the city.
If an employer and an employee agree to participate in the fund, they will have to jointly pay 254 to 2,290 yuan every month on a fifty-fifty basis just like the locals, the Shanghai Provident Fund Management Center.
The money can be used by participating foreigners to buy or rent house.
