Annual Report 2012

Notes to the financial statements(Expressed in millions of RMB, unless otherwise stated)31 Fixed assets (continued)Bank (continued)Cost/deemed costBankpremisesConstructionin progress Equipment Others TotalAs at 1 January 2011 57,296 15,636 26,458 19,083 118,473Additions 3,806 10,131 5,006 2,978 21,921Transfer in/(out) 4,395 (6,225) 62 1,768 –Disposals (357) (614) (1,761) (1,113) (3,845)As at 31 December 2011 65,140 18,928 29,765 22,716 136,549Accumulated depreciationAs at 1 January 2011 (11,585) – (16,201) (7,506) (35,292)Charge for the year (2,192) – (4,216) (3,869) (10,277)Disposals 97 – 1,655 1,103 2,855As at 31 December 2011 (13,680) – (18,762) (10,272) (42,714)Allowances for impairment losses (Note 37)As at 1 January 2011 (476) – (3) (6) (485)Disposals 17 – 2 – 19As at 31 December 2011 (459) – (1) (6) (466)Net carrying valueAs at 1 January 2011 45,235 15,636 10,254 11,571 82,696As at 31 December 2011 51,001 18,928 11,002 12,438 93,369Notes:(1) As at 31 December 2012, the ownership documentation for the Group’s and the Bank’s bank premises with a net carrying value of RMB16,492 million (2011: RMB11,222 million) was being finalised.However, management is of the view that the aforesaid matter would not affect the rights of the Group and the Bank to these assets nor have any significant impact on the business operation of theGroup and the Bank.(2) Analysed by remaining terms of the leasesThe net carrying values of bank premises of the Group and the Bank as at the end of the reporting period are analysed by the remaining terms of the leases as follows:GroupBank2012 2011 2012 2011Long term leases (over 50 years) held overseas 686 37 – –Medium term leases (10-50 years) held overseas 2,082 125 102 111Short term leases (less than 10 years) held overseas 20 6 20 6Long term leases (over 50 years) held in Mainland China 4,045 3,836 4,045 3,834Medium term leases (10-50 years) held in Mainland China 54,047 45,990 53,563 45,573Short term leases (less than 10 years) held in Mainland China 1,922 1,477 1,919 1,477Total 62,802 51,471 59,649 51,001China Construction Bank Corporation annual report 2012137