Annual Report 2012

5 MANAGEMENT DISCUSSION AND ANALYSISThe analysis of the remaining maturity of the Group’s assets and liabilities as at the balance sheet date is set out below:(In millions of RMB)IndefiniteRepayableon demandWithinone monthAs at 31 December 2012Betweenone andthree monthsBetweenthree monthsand one yearBetweenone andfive yearsMore thanfive yearsAssetsCash and deposits with central banks 2,154,098 303,971 – – – – – 2,458,069Deposits and placements with banksand non-bank financial institutions – 35,116 313,407 206,031 144,297 16,352 348 715,551Financial assets held under resaleagreements – – 218,245 57,071 41,369 – – 316,685Loans and advances to customers 30,078 196,222 247,909 533,660 2,007,674 1,806,324 2,488,012 7,309,879Investments 30,568 – 25,732 65,398 526,289 1,166,984 1,054,043 2,869,014Other assets 164,230 36,316 16,689 33,883 43,337 6,538 2,637 303,630TotalTotal assets 2,378,974 571,625 821,982 896,043 2,762,966 2,996,198 3,545,040 13,972,828LiabilitiesBorrowings from central banks – – 1,689 2,428 2,164 – – 6,281Deposits and placements from banksand non-bank financial institutions – 431,321 482,961 60,519 113,158 9,784 – 1,097,743Financial liabilities at fair value throughprofit or loss – 20,000 9,401 6,263 1,587 – – 37,251Financial assets sold under repurchaseagreements – – 1,779 410 171 – – 2,360Deposits from customers – 5,891,342 1,036,919 1,035,687 2,326,505 1,041,891 10,735 11,343,079Debt securities issued – – 12,098 30,170 52,082 30,197 138,444 262,991Other liabilities 332 158,688 16,071 19,884 57,711 18,549 2,279 273,514Total Liabilities 332 6,501,351 1,560,918 1,155,361 2,553,378 1,100,421 151,458 13,023,219Long/(short) position in 2012 2,378,642 (5,929,726) (738,936) (259,318) 209,588 1,895,777 3,393,582 949,609Long/(short) position in 2011 2,203,755 (5,439,243) (575,536) (432,250) (180,834) 2,173,385 3,067,384 816,661The Group regularly monitors the gap between its assets and liabilities for various maturities in order to assess its liquidity risk for differentperiods. As at 31 December 2012, the accumulated gap of various maturities of the Group was RMB949,609 million, an increase ofRMB132,948 million over 2011. Despite the negative gap for repayment on demand totalling RMB5,929,726 million, the Group is expected toenjoy a stable funding source and maintain stable liquidity in the future given its strong and expansive deposit customer base, relatively stablecore demand deposits, and steady growth in deposits.46 China Construction Bank Corporation annual report 2012