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Land use rights, net

12 Months Ended

Dec. 31, 2020

12. Land use rights, net

Land use rights, net consist of the following:


	As of December 31,
	2019			2020
	RMB’000			RMB’000
Land use rights		11,380,221			11,786,977
Less: accumulated amortization		(488,479	)		(662,064	)

Net book value		10,891,742			11,124,913

Amortization expenses for land use rights were RMB181,101,000, RMB222,143,000 and RMB228,844,000 for the years ended December 31, 2018, 2019 and 2020, respectively.

As of December 31, 2020, amortization expenses related to the land use rights for future periods are estimated to be as follows:


	For the year ended December 31,
	2021		2022		2023		2024		2025		2026 and thereafter
	RMB’000		RMB’000		RMB’000		RMB’000		RMB’000		RMB’000
Amortization expenses		237,578		237,578		237,578		237,578		237,578		9,937,023