Sino-German Bausparkasse which was authentically the first housing saving bank in China was opened. The system of housing saving and housing accumulation fund were compared in this paper firstly. After that, the situation and the problems of the housing saving bank in current China were elaborated. Then the foreground of the new housing financing which was combined with the system of housing saving and housing accumulation fund was analyzed. Based on these, the suggestions for consummating Chinese housing financing system were advised.