Lease liabilities (Tables)

12 Months Ended

Dec. 31, 2019

The following table shows the remaining contractual maturities of the Group’s lease liabilities at the end of the current reporting period and at the date of transition to IFRS 16:


	December 31, 2019
	Present value of the minimum lease payments		Total minimum lease payments			Present value of the minimum lease payments		January 1, 2019 (Note) Total minimum lease payments
	RMB million		RMB million			RMB million		RMB million
Within 1 year		19,998		25,404			16,921		21,507

After 1 year but within 2 years		19,249		23,860			16,018		20,033
After 2 years but within 5 years		54,155		63,003			50,709		59,111
After 5 years		40,672		44,814			36,729		40,307

		114,076		131,677			103,456		119,451

		134,074		157,081			120,377		140,958

Less: total future interest expenses				(23,007	)				(20,581	)

Present value of lease liabilities				134,074					120,377

Note:

The Group has initially applied IFRS 16 using the modified retrospective approach and adjusted the opening balances at January 1, 2019 to recognize lease liabilities relating to leases which were previously classified as operating leases under IAS 17. These liabilities have been aggregated with the brought forward balances relating to leases previously classified as finance leases. Comparative information as at December 31, 2018 has not been restated as set out in Note 38 and relates solely to leases previously classified as finance leases. Further details on the impact of the transition to IFRS 16 are set out in Note 2(b).

Summary of lease liabilities demonimated by currencies


	Denominated obligations by currencies
For the year ended December 31, 2019	Effective interest rate		USD RMB million		Japanese Yen RMB million		Renminbi RMB million		Euro RMB million		Other currencies RMB million		Total RMB million
Fixed interest rates		1.75%~5.03%		50,568		10		7,023		15		22		57,638
Floating interest rates		0%~5.22%		15,335		1,272		56,100		3,535		194		76,436

				65,903		1,282		63,123		3,550		216		134,074


	Denominated obligations by currencies
For the year ended December 31, 2018	Effective interest rate		USD RMB million		Japanese Yen RMB million		Renminbi RMB million		Euro RMB million		Other currencies RMB million		Total RMB million
Fixed interest rates		1.75%~5.03%		8,630		—		1,097		—		—		9,727
Floating interest rates		0%~5.80%		18,237		1,457		38,629		3,927		244		62,494

				26,867		1,457		39,726		3,927		244		72,221