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Land use rights, net

12 Months Ended

Dec. 31, 2023

12.	Land use rights, net

Land use rights, net consist of the following:


	As of December 31,
	2022			2023

	(RMB in millions)
Land use rights		35,481			42,219
Less: accumulated amortization and impairment		(1,633	)		(2,656	)

Net book value		33,848			39,563

Amortization expenses for land use rights were RMB276 million, RMB693 million and RMB900 million for the years ended December 31, 2021, 2022 and 2023, respectively. No impairment

loss

was recorded for the years ended December 31, 2021 and 2022, respectively. For the year ended December 31, 2023, the Group recorded impairment loss of RMB210 million.

As of December 31, 2023, amortization expenses related to the land use rights for future periods are estimated to be as follows:


	For the year ended December 31,
	2024		2025		2026		2027		2028		2029 and thereafter

	(RMB in millions)
Amortization expenses		944		944		944		943		943		34,845