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Employee Defined Contribution Plan
12 Months Ended
Dec. 31, 2019
Retirement Benefits [Abstract]  
Employee Defined Contribution Plan
15.
EMPLOYEE DEFINED CONTRIBUTION PLAN
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Full time employees of the
Group
in the PRC participate in a government mandated multi-employer defined contribution plan pursuant to which certain pension benefits, medical care, unemployment insurance, employee housing fund and other welfare benefits are provided to employees. Chinese labor regulations require that the Group make contributions to the government for these benefits based on certain percentages of the employees’ salaries. The
Group
has no legal obligation for the benefits beyond the contributions.
T
otal amounts for such employee benefits, which were expensed as incurred, were RMB2.6 billion, RMB2.9 billion and RMB3.2 billion (US$464 million) for the years ended December 31, 2017, 2018 and 2019, respectively.