2019 Annual Report (^117)
Defined contribution plans
The Group contributes to defined contribution retirement plans for eligible employees. The plans are managed
either by the governments in the countries where the employees are employed, or by independent trustees.
Contribution levels are determined by the relevant laws and regulations concerned.
11 Finance income and expenses
(CNY million) Note 2019 2018
Interest income on financial assets measured at
amortised cost
- deposits and wealth management products 6,228 4,768
- other financial assets 480 314
Interest income on financial assets measured at FVOCI 128 407
Dividend income on money market funds 634 713
Net gains on non-derivative financial assets mandatorily
measured at FVPL
28 312
Net gains on disposal of financial assets measured at
FVOCI
13(b) 78 1Interest income on lease receivables 22 10
Finance income 7, 598 6,525
Interest expense on loans and borrowings (4,807) (2,857)
Interest cost on employee benefit obligations (637) (1,118)
Interest expense on lease liabilities 30(a)(ii) (374) –
Other interest expense (252) (230)
Net foreign exchange loss (1,340) (2,031)
Impairment loss on debt securities measured at FVOCI and
other financial assets measured at amortised cost- (8)
Bank charges (10) (28)
Finance expenses (7, 420) (6,272)
Net finance income 178 253No borrowing costs were capitalised during the year ended December 31, 2019 (2018: nil).
12 Income tax in the summary consolidated statement of profit or loss and
other comprehensive income
Charge for the year
(CNY million) 2019 2018
Current tax
Provision for the year 9,419 10,909
(Over)/under provision in respect of prior years (151) 1,153
9,268 12,062
Deferred tax 6,099 2,239
15,367 14,301