2006 Interim Report－A Share.pdf - 中国银行

4. Operating leases
Under the Group's irrevocable operating lease contracts, the minimum rental payments that should be paid in the
future are summarised as:
30 June 2006 31 December 2005
Within one year 1,401 1,371
One to two years 1,159 1,085
Two to three years 851 807
Above three years 2,566 2,546
Total 5,977 5,809
5. Certificate treasury bonds redemption commitments
The Bank is entrusted by the MOF to issue certain Certifcicate Treasury Bonds. The investors of Certificate Treasury
Bonds have a right to redeem the bonds at par any time prior to maturity and the Bank is committed to redeem those
bonds. The redemption price is the principal value of the Certificate Treasury Bonds plus unpaid interest. As at 30
June 2006, the Bank's redemption commitments, representing the principal value of the bonds underwritten and sold
by the Bank, amounted to RMB 84,056 million (2005: RMB 80,965 million). The original maturities of these bonds
vary from 1 to 5 years. As the deposits base rate established by the PBOC is currently lower than the yields on all
issues of Certificate Treasury Bonds, management expects the amount of redemption before the maturity dates of
those bonds through the Bank will not be material.
6. Major off-balance sheet exposures
30 June 2006 31 December 2005
Acceptances 230,434 195,234
Letters of guarantee issued 255,779 212,987
Letters of credit issued 115,686 101,195
Irrevocable credit commitments and others 422,297 386,346
Total 1,024,196 895,762
X. EVENTS AFTER THE BALANCE SHEET DATE
Subsequent to the balance sheet date in August 2006, the Bank entered into certain foreign currency transactions
to reduce its net foreign currency position by USD14.2 billion (Note VII).
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