14. | PREPAID LEASE PAYMENTS |
As of December 31 | ||||||||||||
2016 | 2017 | 2017 | ||||||||||
RMB’000 | RMB’000 | US$’000 | ||||||||||
The Group’s prepaid lease payments comprise were analyzed for reporting purposes as: | ||||||||||||
Non-current assets |
376,449 | 367,024 | 56,411 | |||||||||
Current assets |
9,425 | 9,425 | 1,449 | |||||||||
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385,874 | 376,449 | 57,860 | ||||||||||
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As of December 31 | ||||||||||||
2016 | 2017 | 2017 | ||||||||||
RMB’000 | RMB’000 | US$’000 | ||||||||||
Beginning of the year |
395,299 | 385,874 | 59,309 | |||||||||
Amortization charge for the year |
(9,425 | ) | (9,425 | ) | (1,449 | ) | ||||||
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End of the year |
385,874 | 376,449 | 57,860 | |||||||||
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Prepaid lease payments represent the rights to use the land (the “Land Use Rights”) in the PRC acquired by the Group. The Group is granted land use rights for a period from 25 to 70 years. They are amortized over the term of the Land Use Rights on a straight line basis. No impairment loss was made to the carrying amounts of the prepaid lease payments for the years ended December 31, 2015, 2016 and 2017.