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LOSS ON FOREIGN CURRENCY FORWARD CONTRACT

12 Months Ended

Dec. 31, 2016

Foreign Currency [Abstract]

LOSS ON FOREIGN CURRENCY FORWARD CONTRACT

9 LOSS ON FOREIGN CURRENCY FORWARD CONTRACT

 

The Company entered into a foreign currency forward contract on January 29, 2016 to sell its time deposits denominated in RMB for US dollars at a fixed rate at 6.7070 on May 19, 2016 with the notional amount of RMB564,095. The Company settled the forward contract on May 19, 2016 and incurred a loss on foreign currency forward contract in the amount of RMB12,898 for the year ended December 31, 2016.

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- Definition

Contracts negotiated between two parties to purchase and sell a specific quantity of a financial instrument, foreign currency, or commodity at a price specified at origination of the contract, with delivery and settlement at a specified future date.

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No definition available.

+ Details

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- References

No definition available.

+ Details

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