On October 22, according to an announcement issued on the “China Internet Finance Association” public account, a few days ago, relevant loan aid platforms applied to join the China Internet Finance Association Internet Loan Self-Regulatory Working Group. According to the announcement, from October 15 to October 22, Beijing Weicai Technology Co., Ltd., Shanghai Weixin Huizhi Financial Technology Co., Ltd., Shenzhen Samoye Digital Technology Co., Ltd., and Xiaohua Internet Technology Co., Ltd. submitted special audit reports issued by independent third party professional institutions on whether there was misappropriation of credit funds in accordance with the requirements. The main audit results showed that WeChat Technology, Weixin Financial Technology, and Xiaohua Technology did not find that loan aid business user repayment funds belonging to financial institutions had not been transferred to financial institutions, nor were any cases of misuse of user repayment funds belonging to financial institutions; there were no cases where loan aid business user repayment funds belonging to financial institutions were not transferred to financial institutions.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.