The Group’s interests in leasehold land represent prepaid operating lease payments in the PRC and its net book value are analysed as follows:
As at 31 December 2017, land use right certificates of certain pieces of land of the Group with an aggregate carrying value of approximately RMB1,318,686,000 (2016: RMB936,304,000) had not been obtained. After consultation made with the Company’s legal counsel, the directors of the Company consider that there is no legal restriction for the Group or the Company to apply for and obtain the land use right certificates and it should not lead to any significant adverse impact on the operations of the Group or the Company.
8 LEASEHOLD LAND PAYMENTS(CONTINUED)
The remaining lease period of leasehold land as at 31 December 2017 was as follows:
|
2016 |
2017 | ||
|
RMB’000 |
RMB’000 | ||
|
Lease of between 10 to 20 years |
873,411 |
1,257,346 | |
|
Lease of between 20 to 30 years |
751,448 |
|
722,932 |
|
|
1,624,859 |
|
1,980,278 |