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## NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 

(RMB AND US$ AMOUNTS EXPRESSED IN THOUSANDS, EXCEPT PER SHARE DATA) 

## 19. Trade and bills receivables 

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(i) As of December 31, 2013, bills receivable includes bills receivable from joint venture and other related parties amounted Rmb 126,027 (US$20,592) (2012: Rmb 99,632) and Rmb 6,800 (US$1,111) (2012: Rmb 21,070), respectively. 

Trade receivables (net) are non-interest bearing and are generally on 60 days’ term. They are recognized at their original invoice amounts which represent their fair values on initial recognition. 

As of December 31, 2012 and 2013, outstanding bills receivables discounted with banks for which the Group retained a recourse obligation totaled Rmb 828,974 and Rmb 1,243,440 (US$203,173) respectively. 

As of December 31, 2012 and 2013, outstanding bills receivables endorsed to suppliers with recourse obligation were Rmb 567,112 and Rmb 1,043,213 (US$170,457) respectively. 

An analysis of the allowance for doubtful accounts is as follows: 

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The Group’s historical experience in the collection of trade receivables falls within the recorded allowances. Due to this factor, management believes that no additional credit risks beyond the amount provided for collection losses are inherent in the Group’s trade receivables. 

As of December 31, 2012 and 2013, gross trade receivables due from a major customer, Dongfeng Automobile Company and its affiliates (the “Dongfeng companies”) were Rmb 145,351 and Rmb 279,831 (US$45,723), respectively. See Note 31 for further discussion of customer concentration risk. 

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