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PROPERTY AND EQUIPMENT | 12 Months Ended
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Dec. 31, 2019
PROPERTY AND EQUIPMENT |
PROPERTY AND EQUIPMENT | 7. PROPERTY AND EQUIPMENT Property and equipment consists of the following:
|  | As of December 31,
|  | 2018 |  | 2019
Cost: |  |  |  |
Leasehold improvements |  | 34,147 |  | 42,858
Electronic equipment |  | 18,730 |  | 22,373
Furniture, fixtures and equipment |  | 8,566 |  | 15,426
Vehicles |  | 595 |  | 898
|  | 62,038 |  | 81,555
Less: Accumulated depreciation |  | (41,736) |  | (51,719)
|  | 20,302 |  | 29,836
Construction in progress |  | — |  | —
Property and equipment, net |  | 20,302 |  | 29,836
Depreciation expense was RMB14,203, RMB10,643 and RMB10,607 for the years ended December 31, 2017, 2018 and 2019, respectively.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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