Long-Term Time Deposits and Held-to-Maturity Investments

12 Months Ended

Dec. 31, 2024

Schedule of Investments [Abstract]

Long-Term Time Deposits and Held-to-Maturity Investments

5.  LONG-TERM TIME DEPOSITS AND HELD-TO-MATURITY INVESTMENTS

Long-term time deposits and held-to-maturity investments were mainly deposits in commercial banks with maturities of greater than one year and wealth management products issued by commercial banks and other financial institutions for which the Group has the positive intent and ability to hold those investments to maturity with maturities of greater than one year.

During the years ended December 31, 2022, 2023 and 2024, the Group recorded interest income from its long-term held-to-maturity investments of RMB585 million, RMB1.3 billion and RMB2.9 billion (US$391 million) in the consolidated statements of comprehensive income, respectively.

Long-term time deposits and held-to-maturity investments as of December 31, 2023 and 2024 were shown as below:

	As of December 31, 2023
	Cost or amortized cost less allowance for credit losses		Gross unrecognized holding gains		Gross unrecognized holding losses			Fair value
	RMB		RMB		RMB			RMB
	(In millions)
Long-term time deposits and held-to-maturity investments		24,666		261		(55	)		24,872

	As of December 31, 2024
	Cost or amortized cost less allowance for credit losses		Gross unrecognized holding gains		Gross unrecognized holding losses			Fair value
	RMB		RMB		RMB			RMB		US$
	(In millions)
Long-term time deposits and held-to-maturity investments		98,535		1,290		(756	)		99,069		13,572

The following table summarizes the net carrying amount of long-term time deposits and held-to-maturity investments with stated contractual dates, classified by the contractual maturity date of the investments:

	As of December 31,
	2023		2024		2024
	RMB		RMB		US$
	(In millions)
Due in 1 year through 2 years		22,303		30,556		4,186
Due in 2 years through 3 years		2,063		67,979		9,313
Due in 3 years through 5 years		300		—		—
Total		24,666		98,535		13,499