CITIC Limited Half-Year Report 2020

94 CITIC Limited Half-Year Report 2020 For the six months ended 30 June 2020 Notes to the Consolidated Financial Statements 28 Contingent liabilities and commitments (continued) (d) Guarantees provided (continued) As at balance date, the counter guarantees issued to the Group by related parties and third parties mentioned above are as follows: 30 June 2020 31 December 2019 HK$ million HK$ million Related parties (note) 3,317 5,586 Third parties 223 228 3,540 5,814 Note: As at 30 June 2020, the guarantees provided to related parties by the Group include guarantees provided to former subsidiaries of the Group that were disposed to China Overseas Land & Investment Limited (“China Overseas”) in 2016, amounting to RMB3,000 million (approximately HK$3,284 million) (31 December 2019: RMB5,000 million (approximately HK$5,582 million)). China Overseas which has provided counter guarantees to the Group. The relationship and transaction with related parties are disclosed in Note 30. (e) Outstanding litigation and disputes The Group is involved in a number of current and pending legal proceedings. The Group provided for liabilities arising from those legal proceedings in which the outflow of economic benefit is probable and can be reliably estimated in the consolidated balance sheet. The Group believes that these accruals are reasonable and adequate. (i) There are a number of disputes with Mineralogy, and their details are disclosed in Note 3(b). (ii) There are some issues in dispute with MCC, and their details are disclosed in Note 3(a). (f) Capital commitments As at the balance sheet date, the Group had the following capital commitments not provided for in these consolidated financial statements: 30 June 2020 31 December 2019 HK$ million HK$ million Contracted for 22,704 33,183