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General risk reserve
12 Months Ended
Dec. 31, 2021
25. General Risk Reserve

25. General risk reserve

 

In accordance with the relevant laws and regulations of the PRC, the Company’s variable interest entity is required to maintain a general risk reserve within the equity, through appropriation of profit, which should not be less than 1.5% of the year end balance of its risk assets over the course of five years. As of December 31, 2020 and 2021, total statutory reserves were RMB9.2 million and RMB9.2 million, respectively.