| 19. | TRADE AND OTHER PAYABLES AND ACCRUALS |
| As of December 31, | ||||||||||||
| 2016 | 2017 | 2017 | ||||||||||
| RMB’000 | RMB’000 | US$’000 | ||||||||||
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Trade payables |
116,425 | 78,071 | 11,999 | |||||||||
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Bills payable - secured (see Note 15) |
321,000 | 352,000 | 54,102 | |||||||||
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| 437,425 | 430,071 | 66,101 | ||||||||||
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Deposits from distributors |
158,300 | 129,000 | 19,827 | |||||||||
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Payables in respect of acquisition of property, plant and equipment |
7,475 | 10,422 | 1,602 | |||||||||
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Other tax payables |
7,513 | 11,665 | 1,793 | |||||||||
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Advances from an unrelated party (note) |
983 | 38 | 6 | |||||||||
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Accrued staff costs |
29,882 | 29,714 | 4,567 | |||||||||
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Accrued transportation costs |
16,104 | 13,579 | 2,087 | |||||||||
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Accrued utilities expenses |
4,991 | 4,014 | 617 | |||||||||
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Deferred income (see Note 22) |
796 | 797 | 122 | |||||||||
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Others |
5,164 | 6,125 | 941 | |||||||||
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| 231,208 | 205,354 | 31,562 | ||||||||||
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| 668,633 | 635,425 | 97,663 | ||||||||||
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Note: The advances from an unrelated party are unsecured, interest free and repayable on demand.
In general, the Group is required to make full advance payments (including issuance of bills) to suppliers for the purchases of its major raw materials, steel. Suppliers of other raw materials other than steel generally allow the Group a credit period of 60 days.
Bills payable issued by the Group generally have a maturity of 6 months.
Other payables are expected to be settled or recognized as income within one year or are repayable on demand.
The Group has financial risk management policies in place to ensure that all payables are settled within the credit period.