Intangible assets, net

12 Months Ended

Dec. 31, 2015

8. Intangible assets, net

Intangible assets, net, consist of the following:

	As of December 31,
	2014			2015
	RMB			RMB			US$ (Note 2(d))
Travel license		4,313			29,206			4,509
Insurance agency license		—			11,711			1,807
Software		1,945			19,164			2,959
Trade names		—			39,619			6,116
Business Cooperation Agreements		—			660,215			101,920
Customer relationship		—			13,596			2,099
Non-compete agreements		—			2,822			436
Subtotal		6,258			776,333			119,846
Less: Accumulated amortization		(3,183	)		(60,785	)		(9,384	)
Total		3,075			715,548			110,462

During the year 2015, the Group acquired an insurance agency for the total consideration of RMB58,720 to acquire the insurance agency license. The insurance agency was a dormant company and was not qualified as a business as it had no input or process to create output. The Group accounted it as assets acquisition and the difference between the cash consideration and net assets of the insurance agency is recorded as insurance agency license and amortized over the 20 years on a straight line basis.

Amortization expenses for intangible assets were RMB482, RMB984 and RMB57,810 for the years ended December 31, 2013, 2014 and 2015.

The annual estimated amortization expense for the above intangible assets for the following years is as follows:

	Amortization for Intangible Assets
Years Ending December 31,	RMB		US$ (Note 2(d))
2016		142,280		21,964
2017		141,355		21,821
2018		141,259		21,807
2019		140,851		21,744
2020		87,336		13,482
Thereafter		62,467		9,644
Total		715,548		110,462