CITIC Limited Half-Year Report 2019

108 CITIC Limited Half-Year Report 2019 For the six months ended 30 June 2019 29 Financial risk management and fair values (continued) (b) Liquidity risk Liquidity risk arises when there is mismatch between amounts and maturity dates of financial assets and financial liabilities. Each of the Group’s operating entity formulates liquidity risk management policies and procedures within the Group’s overall liquidity risk management framework and takes into consideration of the business and regulatory requirements applicable to individual entity. The Group manages liquidity risk by holding liquid assets (including deposits, other short term funds and securities) of appropriate quality and quantity to ensure that short term funding requirements are covered within prudent limits. Adequate standby facilities are maintained to provide strategic liquidity to meet unexpected and material demand for payments in the ordinary course of business. The following tables indicate the analysis by remaining maturities of the Group’s financial assets and liabilities: As at 30 June 2019 Repayable on demand Within 1 year Between 1 and 5 years More than 5 years Indefinite maturity date Total HK$ million HK$ million HK$ million HK$ million HK$ million HK$ million Total financial assets 274,193 2,935,870 1,848,289 1,622,035 706,006 7,386,393 Total financial liabilities (2,874,974) (3,200,630) (755,923) (242,660) (35) (7,074,222) Financial asset-liability gap (2,600,781) (264,760) 1,092,366 1,379,375 705,971 312,171 As at 31 December 2018 Repayable on demand Within 1 year Between 1 and 5 years More than 5 years Indefinite maturity date Total HK$ million HK$ million HK$ million HK$ million HK$ million HK$ million Total financial assets 352,189 2,644,591 1,889,958 1,449,158 750,042 7,085,938 Total financial liabilities (2,624,897) (3,233,564) (693,042) (196,238) (3,173) (6,750,914) Financial asset-liability gap (2,272,708) (588,973) 1,196,916 1,252,920 746,869 335,024 Notes to the Consolidated Financial Statements