| 21. | SHORT-TERM BANK BORROWINGS |
| As of December 31, | ||||||||||||
| 2016 | 2017 | 2017 | ||||||||||
| RMB’000 | RMB’000 | US$’000 | ||||||||||
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Fixed-rate bank borrowings |
558,000 | 558,000 | 85,763 | |||||||||
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Analyzed as: |
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Secured |
180,000 | 180,000 | 27,665 | |||||||||
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Unsecured |
378,000 | 378,000 | 58,098 | |||||||||
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| 558,000 | 558,000 | 85,763 | ||||||||||
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Bank borrowings carried the following range of interest rates at the end of the respective reporting period:
| 2016 | 2017 | |||||||
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Fixed-rate bank borrowings |
4.4 | % | 4.4 | % | ||||
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All the Group’s bank borrowings are carried at amortized costs and are denominated in RMB.
Details of assets pledged in respect of the Group’s secured bank borrowings are set out in Note 26. As of December 31, 2017 and 2016, bank borrowings of RMB558,000,000 (US$85,763,000) and RMB558,000,000, respectively, are guaranteed by certain subsidiaries of the Company.
One of the banking facilities are subject to the fulfillment of covenants. If the Group were in breach of the covenants, the drawn down facilities would become repayable on demand. The Group regularly monitors its compliance with these covenants, is up to date with the scheduled repayments of the term loans and does not consider it probable that the banks will exercise their discretion to demand repayment so long as the Group continues to meet these requirements. Further details of the Group’s management of liquidity risk are set out in Note 30. As at December 31, 2017 and 2016 none of the covenants relating to drawn down facilities had been breached.