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ASSETS FROM THE INVESTOR ASSURANCE PROGRAM
 12 Months Ended
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.