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Bank borrowings | 12 Months Ended
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Dec. 31, 2021
ZHEJIANG TIANLAN |
Bank borrowings | 12 Bank borrowings
|  | December 31, |
|  | 2021 |  |  | 2020 |
|  | RMB’000 |  |  | RMB’000 |
Bank loans borrowed by the Company (note i) |  |  | 8,511 |  |  |  | 10,014 |
Bank loans borrowed by subsidiaries of the Company (note ii) |  |  | 5,007 |  |  |  | 10,015 |
|  |  | 13,518 |  |  |  | 20,029 |
(i) | The bank loans are denominated in Renminbi and are repayable within 1 year. The bank loans borrowed by the Company as of December 31, 2021 bears interest at fixed rates of 4.35% to 5% (2020: 4.79%) per annum. Interest paid during the year ended December 31, 2021 was approximately RMB253,000 (2020: RMB1,377,000 and 2019: RMB1,991,000).
(ii) | The bank loans are denominated in Renminbi and are repayable within 1 year. The bank loans borrowed by subsidiaries of the Company as of December 31, 2021 bears interest at a fixed rate ranging from 4.35% to 5% (2020: a fixed rate ranging from 4.5% to 4.79%) 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, 2021 was approximately RMB427,000 (2020: RMB287,000 and 2019: RMB246,000).

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