11. PREPAYMENTS AND OTHER CURRENT ASSETS

Prepayments and other current assets consisted of the following:

	As of December 31,
	2014		2015
	RMB		RMB
Value-added tax deductible		685,696,580		697,764,644
Deposit for customer duty, bidding and others		68,027,240		99,610,364
Assets held for sale related to land use right		-		38,832,489
Prepayment for income tax		17,439,451		31,683,090
Receivables related to land use right disposal		-		20,435,188
Prepaid commission		9,095,471		18,970,826
Prepaid insurance premium		15,060,226		17,634,229
Rental deposit and prepayment		31,054,808		15,850,741
Employee advances		15,602,935		15,449,587
Receivables of option exercised		226,952		10,210,003
Deposits related to construction of solar projects		9,880,000		13,385,573
Prepaid land lease		674,617		9,138,476
Derivative assets		-		7,277,406
Prepaid professional service fee		18,149,624		4,526,264
Prepayment for share repurchase		25,471,153		-
Deposits related to acquisition of subsidiaries		10,000,000		-
Others		6,543,254		34,294,522
Total		912,922,311		1,035,063,402

Value-added tax deductible represented the balance that the Group can utilize to deduct its value-added tax liability within the next 12 months.

As of December 31, 2014 and 2015, all of the employee advances were business related, interest-free, not collateralized and will be repaid or settled within one year from the respective balance sheet dates.

Derivative assets represent the foreign exchange call spread option the Group purchased in 2015 which will mature within 12 months. (Note 30)