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ASSETS FROM THE INVESTOR ASSURANCE PROGRAM | 12 Months Ended
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Dec. 31, 2019
Assets [Abstract] |
ASSETS FROM THE INVESTOR ASSURANCE PROGRAM |
3. | ASSETS FROM THE INVESTOR ASSURANCE PROGRAM
The movement of the assets from the investor assurance program for the year ended December 31, 2018 is as follow:
|  | Opening balance as of January 1, 2018 |  |  | Assets arising from new business |  |  | Subsequent collections during the year |  |  | Additional provisions in the current year |  |  | Ending balance as of December 31, 2018 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |
Current loan products |  |  | 1,187 |  |  |  | 968,732 |  |  |  | (969,919 | ) |  |  | — |  |  |  | — |
Other online standard loan products |  |  | 218,686 |  |  |  | 373 |  |  |  | (218,806 | ) |  |  | (87 | ) |  |  | 166 |
Offline and non-standard loan products |  |  | 50,403 |  |  |  | 710 |  |  |  | (37,564 | ) |  |  | (8,190 | ) |  |  | 5,359 |
Total |  |  | 270,276 |  |  |  | 969,815 |  |  |  | (1,226,289 | ) |  |  | (8,277 | ) |  |  | 5,525 |
The movement of the assets from the investor assurance program for the year ended December 31, 2019 is as follow:
|  | Opening balance as of January 1, 2019 |  |  | Assets arising from new business |  |  | Subsequent collections during the year |  |  | Additional Provisions in the current year |  |  | Transfer out due to disposal of Shanghai Caiyin |  |  | Ending balance as of December 31, 2019 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |
Current loan products |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Other online standard loan products |  |  | 166 |  |  |  | — |  |  |  | (165 | ) |  |  | — |  |  |  | (1 | ) |  |  | — |
Offline and non-standard loan products |  |  | 5,359 |  |  |  | — |  |  |  | (5,175 | ) |  |  | — |  |  |  | (184 | ) |  |  | — |
Total |  |  | 5,525 |  |  |  | — |  |  |  | (5,340 | ) |  |  | — |  |  |  | (185 | ) |  |  | — |
The Company recorded RMB 8,277 and nil additional provisions as provision for assets and liabilities from the investor assurance program in 2018 and 2019, respectively. The additional provisions of RMB 8,277 w ere subsequently written off in 2018.

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- Definition Assets from the investor assurance program. + References No definition available. + Details
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