LAND USE RIGHTS, NET

12 Months Ended

Dec. 31, 2015

LAND USE RIGHTS, NET [Abstract]

LAND USE RIGHTS, NET

15. LAND USE RIGHTS, NET

Land use rights represent fees paid to the government to obtain the rights to use certain lands over periods of 50 to 70 years, as applicable, in the PRC.

	As of December 31,
	2014			2015
	RMB			RMB
Land use rights		406,639,529			386,633,770
Less: accumulated amortization		(34,707,379	)		(36,719,630	)
Land use rights, net		371,932,150			349,914,140

Amortization expense was RMB6,664,272 , RMB6,882,863 and RMB6,300,488 for the years ended December 31, 2013, 2014 and 2015, respectively. As of December 31, 2015, estimated amortization expense in each of the next five years is RMB6,937,672.

As of December 31, 2015, Certain land use rights with net book value of RMB303,519,533 were pledged as collateral for the Company's borrowings (Note 20).