The Property Law of People's Republic of China (PRC) clearly stipulates the ownership and use of public maintenance funds: "The maintenance funds of buildings and their ancillary facilities belong to the owners. With the consent of the owner, it can be used for the maintenance of elevators, water tanks and other parts. The collection and use of maintenance funds should be announced. "
Units selling houses shall, before handling the property ownership certificate for the owners, transfer the maintenance fund collected to the local property management administrative department for escrow. Conditional community, the owners' committee submitted to the owners' congress for decision, can be entrusted to the owners' committee or property management company for the maintenance fund. If the maintenance fund is managed by the property management administrative department, the property management administrative department shall not interfere with the normal use of the maintenance fund.
The use of the maintenance fund shall be put forward by the property management company as an annual use plan, which shall be implemented after being audited by the owners' committee and approved by the owners' meeting. When the maintenance fund is insufficient, the property maintenance fund shall be paid according to the decision of the owners' committee and the proportion of the housing construction area.