Obligations under finance leases

12 Months Ended

Dec. 31, 2019

Text block [abstract]

Obligations under finance leases

38 Obligations under finance leases

As at December 31, 2018, obligations under finance leases are as follows:

	2018
	Present value of the minimum lease payments			Total minimum lease payments		Interest
	RMB million			RMB million		RMB million
Within 1 year		9,555			12,062		2,507
After 1 year but within 2 years		9,572			11,738		2,166
After 2 years but within 5 years		32,285			36,765		4,480
After 5 years		20,809			22,200		1,391
		72,221			82,765		10,544
Less: balance due within one year classified as current liabilities		(9,555	)
		62,666

The Group has initially applied IFRS 16 at January 1, 2019 using the modified retrospective approach. Under this approach, obligations under finance leases of RMB72,221 million (including the current portion) at December 31, 2018 was reclassified to lease liabilities (Note 37) at January 1, 2019.