
	Year ended December 31,
	2020		2021		2022
	RMB’000		RMB’000		RMB’000
Employee benefit expenses (Note 10.1)		14,145,207		16,402,993		15,080,319
Loan origination and servicing expenses		7,091,078		5,712,598		3,667,962
Promotion and advertising expenses		1,221,762		1,685,847		1,525,797
Outsourcing service expenses		1,333,342		1,355,273		1,391,292
Payment processing expenses		1,204,712		1,197,869		1,134,905
Trust management fee		504,428		1,078,380		1,251,761
Depreciation of right-of-use assets (Note 25)		604,018		608,889		578,014
Taxes and surcharges		380,460		534,647		568,826
Business entertainment expenses		769,834		619,328		389,369
Depreciation of property and equipment (Note 23)		226,862		193,511		177,799
Audit fees		49,618		42,376		39,271
Amortization of intangible assets (Note 24)		31,831		22,234		15,325
Listing expenses		—		—		11,418
Others		1,049,327		740,039		1,057,293

Total sales and marketing expenses, general and administrative expenses, operation and servicing expenses, technology and analytics expenses		28,612,479		30,193,984		26,889,351


	Year ended December 31,
	2020		2021		2022
	RMB’000		RMB’000		RMB’000
Sales and marketing expense
Borrower acquisition expenses		11,506,402		10,119,525		7,865,407
General sales and marketing expenses		5,402,999		6,637,150		6,653,847
Investor acquisition and retention expenses		819,888		676,984		301,092
Referral expenses from platform service		84,268		559,413		936,570

		17,813,557		17,993,072		15,756,916

10.1	Employee benefit expenses

(a)	Employee benefit expenses are as follows:


	Year ended December 31,
	2020		2021		2022
	RMB’000		RMB’000		RMB’000
Wages, salaries and bonuses		10,764,239		11,681,753		10,163,216
Other social security costs, housing benefits and other employee benefits		2,787,803		3,157,771		3,293,366
Pension costs – defined contribution plans		427,917		1,430,074		1,577,818
Share-based payment (Note 43)		165,248		133,395		45,919

		14,145,207		16,402,993		15,080,319

(b)	Five highest paid individuals

The five individuals whose emoluments excluding share-based payment were the highest in the Group for the years ended December 31, 2020, 2021 and 2022 include four, three and two directors, whose emoluments are reflected in the analysis shown in Note 47. The emoluments payable to the remaining one, two and three individuals during the years ended December 31, 2020, 2021 and 2022 are as follows:


	Year ended December 31,
	2020		2021		2022
	RMB’000		RMB’000		RMB’000
Wages, salaries and bonuses		4,600		12,294		10,044
Other social security costs, housing benefits and other employee benefits		1,515		2,132		2,819
Pension costs – defined contribution plans		—		57		149

		6,115		14,483		13,012

The emoluments fell within the following bands:


	Year ended December 31,
	2020		2021		2022
Emolument bands (in RMB’000)
1,000 – 5,000		—		—		2
5,001 – 10,000		1		2		1

		1		2		3