24 June 2024
The Guangzhou Housing Provident Fund Management Centre issued the “Notice in relation to the Matters related to the Housing Provident Fund Contributions Adjustment for 2024” on 24 June 2024. The contribution base of housing provident fund is adjusted to the average monthly salary of the employee in the year 2023. The adjusted contribution base shall not be lower than the minimum wage standard of the Guangzhou Municipality (the current standard is RMB2,300) and should not be higher than three times of the average monthly salary of Guangzhou employees in 2023, i.e. RMB 39,579.