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Short-term bank borrowings	12 Months Ended
	Dec. 31, 2019
Short-term bank borrowings
Short-term bank borrowings	7. Short-term bank borrowings In December 2018, the Group entered into a line of credit agreement with a PRC bank that provides a three year term revolving credit facility up to an amount of RMB700,000,000 in aggregate with an interest rate of 2.08% per annum. To collateralize the loan, the Group made deposits to the bank that were restricted. During 2018, total loans drawn with a term of one year were RMB198,000,000 while in 2019, the Group additionally drew a short-term loan amounting to RMB203,000,000(US$29,159,126). The short-term loans were repaid in the fourth quarter of 2019.

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- Definition

The entire disclosure for short-term debt.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI http://asc.fasb.org/topic&trid=2208564

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