| 38 | COMMITMENTS |
| (a) | Capital commitments |
The Group had the following capital commitments relating to property development projects and investments:
| As at 31 December 2017 RMB million |
As at 31 December 2016 RMB million |
|||||||
|
Contracted, but not provided for |
||||||||
|
Investments |
86,582 | 39,616 | ||||||
|
Property, plant and equipment |
5,202 | 5,462 | ||||||
|
Others |
— | 1 | ||||||
|
|
|
|
|
|||||
|
Total |
91,784 | 45,079 | ||||||
|
|
|
|
|
|||||
| (b) | Operating lease commitments - as lessee |
The future minimum lease payments under non-cancellable operating leases are as follows :
| As at 31 December 2017 RMB million |
As at 31 December 2016 RMB million |
|||||||
|
Not later than one year |
784 | 632 | ||||||
|
Later than one year but not later than five years |
1,101 | 764 | ||||||
|
Later than five years |
44 | 27 | ||||||
|
Total |
1,929 | 1,423 | ||||||
The operating lease payments charged to profit before income tax for the year ended 31 December 2017 were RMB1,204 million (2016: RMB994 million).
| (c) | Operating lease commitments - as lessor |
The future minimum rentals receivable under non-cancellable operating leases are as follows:
| As at 31 December 2017 RMB million |
As at 31 December 2016 RMB million |
|||||||
|
Not later than one year |
254 | 186 | ||||||
|
Later than one year but not later than five years |
411 | 267 | ||||||
|
Later than five years |
76 | 10 | ||||||
|
Total |
741 | 463 | ||||||