The aging analysis of our trade receivables, net of allowance for doubtful debts, as at the dates indicated is as follows:

<table><tr><td rowspan="3"></td><td colspan="3">As of 31 December</td><td> As of 30 June</td></tr><tr><td>2009</td><td>2010</td><td>2011</td><td>2012</td></tr><tr><td>RMB’000</td><td> RMB’000</td><td> RMB’000</td><td> RMB’000</td></tr><tr><td>0 to 30 days</td><td>7,819</td><td>3,862</td><td>2,987</td><td>4,536</td></tr><tr><td>31 to 60 days</td><td> —</td><td> —</td><td>818</td><td> —</td></tr><tr><td>61 to 180 days</td><td> —</td><td> —</td><td>740</td><td>651</td></tr><tr><td>180 to 365 days</td><td> —</td><td>380</td><td>453</td><td> —</td></tr><tr><td>Over one year</td><td> —</td><td>93</td><td>93</td><td>277</td></tr><tr><td></td><td>7,819</td><td>4,335</td><td>5,091</td><td>5,464</td></tr></table>

Our average trade receivables turnover days were four days, five days, three days and one day for the years ended 31 December 2009, 2010 and 2011 and the six months ended 30 June 2012, respectively, which were within the credit period granted by us. The average trade receivables turnover days are calculated by dividing the average of opening and ending balance of trade receivables for the year/period by the corresponding revenue in the year/period and then multiplying by the number of days in that year/period. The increase in our average trade receivables turnover days from four days for the year ended 31 December 2009 to five days for the year ended 31 December 2010 was primarily due to a decrease in revenue from RMB493.8 million in 2009 to RMB483.5 million in 2010. The decrease in our average trade receivables turnover days from five days for the year ended 31 December 2010 to three days for the year ended 31 December 2011 was primarily due to an increase in revenue from RMB483.5 million in 2010 to RMB524.5 million in 2011. The decrease in our average trade receivables turnover days from three days for the year ended 31 December 2011 to one day for the six months ended 30 June 2012 was primarily due to an increase in revenue from RMB524.5 million in 2011 to RMB662.4 million in the six months ended 30 June 2012.

In assessing the recoverability of trade receivable from property tenants for property leasing and operational management business, we consider any change in the credit quality of the property tenants. We recognize allowance for doubtful receivables based on estimated irrecoverable amounts determined by reference to past default experience of the property tenants and their current financial position.

Our impairment losses recognized on trade receivable of RMB1.1 million as of 31 December 2010 and 2011 and the six months ended 30 June 2012, were related to irrecoverable amounts relating to our property leasing and operational management business.

As of 31 October 2012, RMB4.5 million, or 82.3%, of our trade receivables as of 30 June 2012 had been settled.

# Prepayment for leasehold land held for development for sale

Our prepayment for leasehold land use right was RMB80.4 million as of 31 December 2009, which was made to secure the land for our Nanjing Jade Garden project. We did not have prepayment for leasehold land held for development for sale as of 31 December 2010 and 2011. Our prepayment for leasehold land held for development for sale was RMB60.0 million, which was made to secure a parcel of land in Zhuzhou.

# Trade and other payables

The following table sets forth a breakdown of our trade and other payables as of the dates indicated below:

<table><tr><td rowspan="3"></td><td colspan="3">As of 31 December</td><td> As of 30 June</td></tr><tr><td>2009</td><td>2010</td><td>2011</td><td>2012</td></tr><tr><td>RMB’000</td><td> RMB’000</td><td> RMB’000</td><td> RMB’000</td></tr><tr><td>Trade payables</td><td>122,836</td><td>113,799</td><td>138,216</td><td>199,381</td></tr><tr><td>Deposits</td><td>7,597</td><td>11,007</td><td>20,568</td><td>15,729</td></tr><tr><td>Other taxes payable</td><td>4,272</td><td>2,463</td><td>4,832</td><td>2,053</td></tr><tr><td>Other payables and accrued
expenses</td><td>15,275</td><td>14,070</td><td>13,750</td><td>11,268</td></tr><tr><td></td><td>149,980</td><td>141,339</td><td>177,366</td><td>228,431</td></tr></table>

Our trade and other payable decreased from RMB150.0 million as of 31 December 2009 to RMB141.3 million as of 31 December 2010. The decrease was primarily due to a decrease in trade payables, partially offset by an increase in deposits received. Our trade and other payables increased from RMB141.3 million as of 31 December 2010 to RMB177.4 million as of 31 December 2011. The increase was primarily due to an increase in trade payables and deposits received. Our trade and other payables increased from RMB177.4 million as of 31 December 2011 to RMB228.4 million as of 30 June 2012, primarily due to an increase in trade payables, which was in line with the continued growth of our property development business. Among our trade payables of RMB199.4 million as of 30 June 2012, trade payable of RMB35.7 million to Nanjing Metro as a part of the total consideration will be settled through the delivery to Nanjing Metro of a portion of our completed property units at Golden Wheel New Metro, according to our agreed settlement terms in relation to the payment of consideration for the land for Golden Wheel New Metro that we acquired from Nanjing Metro. Our Directors believe that Nanjing Metro has accepted such arrangement for the potential benefit of property appreciation taking into account the land cost and economic growth trend in Nanjing.