Annual Report 2009 - Greentown China Holdings Limited

Notes to the Consolidated Financial Statements
For The Year Ended 31 December 2009
38. CONTINGENT LIABILITIES
Guarantees
The Group provided guarantees of RMB10,106,230,000 (2008: RMB3,900,370,000) at 31 December 2009 to banks
in favour of its customers in respect of the mortgage loans provided by the banks to those customers for the
purchase of the Group’s developed properties. These guarantees provided by the Group to the banks will be
released upon receiving the building ownership certificate of the respective properties by the banks from the
customers as a pledge for security to the mortgage loans granted.
The Group also provided guarantees to banks in respect of bank facilities utilised by the following companies:
2009 2008
RMB’000 RMB’000
Associates 3,730,700 179,800
Jointly controlled entities 1,439,000 465,500
5,169,700 645,300
Contingent liabilities arising from interests in associates at the end of the reporting period:
2009 2008
RMB’000 RMB’000
Mortgage loan guarantees provided by an associate to
banks in favour of its customers 1,921,789 933,780
Contingent liabilities arising from interests in jointly controlled entities at the end of the reporting period:
2009 2008
RMB’000 RMB’000
Mortgage loan guarantees provided by jointly controlled entities
to banks in favour of its customers 528,385 623,284
Greentown China Holdings Limited Annual Report 2009 177