CASH AND BANK BALANCES

12 Months Ended

Dec. 31, 2019

19. CASH AND BANK BALANCES


	As of December 31,
	2019	2018
	RMB’000	RMB’000
Cash on hand	18	35
Cash at banks	8,194	8,981
Cash and bank balances	8,212	9,016

Cash and bank balances are denominated in the following currencies:


	As of December 31,
	2019	2018
	RMB’000	RMB’000
Renminbi	784	203
Hong Kong dollars	6	6
US dollars	7,422	8,807
	8,212	9,016

Bank balances denominated in Renminbi are deposited with banks in the PRC and are not freely convertible to foreign currencies. The conversion of these RMB denominated balances into foreign currencies is subject to the foreign exchange control rules and regulations promulgated by the PRC Government.

Bank balances denominated in US dollars are mainly held in bank accounts in Hong Kong and the United States of America.

Cash at banks and bank deposits comprise cash held by the Company and short-term bank deposits with an original maturity of three months or less. The deposits carry interest at prevailing market rates.

As of December 31, 2019, the Company has restricted cash of RMB 2,785,000 (2018: 1,719,000), of which nil (2018: nil) was used as collateral for the Company’s bank borrowings, and nil was used as collateral for the Company’s financial derivatives (2018: nil). They were temporarily not available for general use by the Company.