Short-term loans

12 Months Ended

Dec. 31, 2017

18.

Short-term loans

	December 31,
	2016		2017
	RMB		RMB

Short-term loans		-		588,235

The Group entered into agreements with banks, pursuant to which the Group borrowed three loans with total principal amount of US$90 million (equal to RMB588,235) within a credit facility of US$160 million. These loans were all with a maturity of less than one year and the annual interest rates of these loans ranged from 2.0% to 3.0%. Term deposit of RMB1,000 million was pledged as collateral for the banking facilities of US$160 million.