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PREPAID LAND LEASE PAYMENTS

12 Months Ended

Dec. 31, 2017

PREPAID LAND LEASE PAYMENTS [Abstract]

PREPAID LAND LEASE PAYMENTS

10. PREPAID LAND LEASE PAYMENTS

		As at December 31,
		2016			2017			2017
		RMB			RMB			US$
Prepaid land lease payments			445,444			456,823			70,212
Less: accumulated amortization			(3,634)			(8,890)			(1,366)
Net carrying value			441,810			447,933			68,846

The additions of prepaid land lease payments in 2017 represented the deed tax of RMB11,379 (US$1,749) while SHC register the land use right information and obtained the land use right certificate in July 2017. Amortization expenses for the years ended December 31, 2015, 2016 and 2017 were RMB1,090, RMB1,195 and RMB5,256 (US$808), respectively.

As at December 31, 2016 and 2017, certain of the Group's prepaid land lease payments with a total net book value of nil and RMB48,273 (US$7,419) were pledged to secure other borrowings of nil and RMB280,459 (US$43,105), respectively (note 17) and mandatorily redeemable noncontrolling interest of nil and RMB396,281 (US$60,907) (note 1),  respectively.

 

The estimated annual amortization expenses for the prepaid land leases for each of the five succeeding years are as follows:

 

		Amortization
		RMB			US$
2018			9,164			1,408
2019			9,164			1,408
2020			9,164			1,408
2021			9,164			1,408
2022			9,164			1,408

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- References

No definition available.

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- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-URI http://asc.fasb.org/subtopic&trid=77888251

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-URI http://asc.fasb.org/topic&trid=2208923

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