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Revenues | 12 Months Ended
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Dec. 31, 2019
Revenues |
Revenues | 16. Revenues ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the years ended December 31,
​ |  | 2017 |  | 2018 |  | 2019 | ​ | 2019
​ |  | RMB | ​ | RMB |  | RMB |  | US$
Online marketplace services | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Online marketing services |  | 1,209,275 | ​ | 11,515,575 |  | 26,813,641 |  | 3,851,539
Transaction services |  | 531,416 | ​ | 1,604,415 |  | 3,328,245 |  | 478,072
Merchandise sales |  | 3,385 | ​ | — |  | — |  | —
​ |  | 1,744,076 | ​ | 13,119,990 |  | 30,141,886 |  | 4,329,611
​ Contract balances ​ The Group’s contract liabilities comprised of customer advances, deferred revenues and portions of payable to merchants: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of
​ | ​ | December 31, 2018 | ​ | December 31, 2019 | ​ | December 31, 2019
​ |  | RMB |  | RMB |  | US$
Customer advances and deferred revenues |  | 191,482 |  | 605,970 |  | 87,042
Payable to merchants |  | 72,939 | ​ | 116,557 | ​ | 16,742
​ Customer advances and deferred revenues and payable to merchants relate to considerations received in advance for online marketing services and transaction services, for which control of the services occur at a later point in time. The increase in the balance of contract liabilities was in line with the growth in online marketing services revenues and higher value of orders placed by consumers for which the related transaction services have not been completed. During the year ended December 31, 2019, revenues of RMB219,017 were recognized from the carrying value of contract liabilities as of December 31, 2018. During the year ended December 31, 2018, revenues of RMB83,639 were recognized from the carrying value of contract liabilities as of December 31, 2017.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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