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11A. Short term borrowings (ZHEJIANG) | 12 Months Ended
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Dec. 31, 2012
ZHEJIANG |
12. Short term borrowings |
12 | Short term borrowings
|  | 2012 |  |  | 2011 |
|  | RMB’000 |  |  | RMB’000 |
Bank loan borrowed by the Company (note i) |  |  | 55,000 |  |  |  | 36,000 |
Bank loan borrowed by a subsidiary of the Company (note ii) |  |  | 5,000 |  |  |  | 5,000 |
|  |  | 60,000 |  |  |  | 41,000 |
(i) | The bank loan is denominated in Renminbi and repayable within 1 year. The bank loan borrowed by the Company as of December 31, 2012 bear interest at fixed rates 6.00% to 7.87% (2011: 5.81% to 7.87%) per annum and are secured by the Company’s office premises and leasehold improvements and land use right. Interest paid during the year ended December 31, 2012 was approximately RMB3,137,000 (2011: RMB1,480,000 and 2010: RMB352,000).
(ii) | The bank loan is denominated in Renminbi and repayable within 1 year. The bank loan borrowed by a subsidiary of the Company as of December 31, 2012 bear interest at fixed rates 7.50% to 7.87% (2011: 7.54% to 7.87%) per annum and are secured by the subsidiary’s office premises and leasehold improvements and land use right. Interest paid during the year ended December 31, 2012 was approximately RMB391,245 (2011: RMB115,000).

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