INCOME TAX BENEFIT	6 Months Ended
Jun. 30, 2020
Disclosure of income tax expense [Abstract]
INCOME TAX BENEFIT	4. INCOME TAX BENEFIT Effective from January 1, 2008, the People’s Republic of China (“PRC”)’s statutory corporate income tax (“CIT”) rate is 25%. The Company’s PRC subsidiaries are subject to income tax at 25% on their respective taxable incomes as calculated in accordance with the CIT law and its relevant regulations. The income tax benefit of CNY6.59 million (US$0.93 million) for the six months ended June 30, 2020 was attributable to the reversal of a prior withholding CIT payable which is no longer required to be paid according to the prevailing Regulations for the Implementing of the Corporate Income Tax Law of the PRC.

INCOME TAX BENEFIT

6 Months Ended

Jun. 30, 2020

Disclosure of income tax expense [Abstract]

4. INCOME TAX BENEFIT

Effective from January 1, 2008, the People’s Republic of China (“PRC”)’s statutory corporate income tax (“CIT”) rate is 25%. The Company’s PRC subsidiaries are subject to income tax at 25% on their respective taxable incomes as calculated in accordance with the CIT law and its relevant regulations.

The income tax benefit of CNY6.59 million (US$0.93 million) for the six months ended June 30, 2020 was attributable to the reversal of a prior withholding CIT payable which is no longer required to be paid according to the prevailing Regulations for the Implementing of the Corporate Income Tax Law of the PRC.