Site Level retention policy Vs Content type level retention policy

Inside the "Data Life Cycle management" we can define a retention policy that get applied to the whole site collection, as follow:-

Also at the content type level inside our lists and libraries we can apply a retention policy, as follow:-

so if the site has a retention policy applied from the "Data Life Cycle management" and we also have a retention policy applied to the content type.. which one will get applied to the underlying documents and lists and why? the one at the site level or the one at the content type level?

Thanks