Annual Report 2020

China Merchants China Direct Investments Limited Annual Report 2020 129 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2020 16. OTHER RECEIVABLES AND PREPAYMENTS 2020 2019 US$ US$ Dividend receivable 1,636,025 897,007 Interest receivable 39,915 91,986 Other receivables and prepayments 326,360 19,392 Total 2,002,300 1,008,385 17. CASH AND CASH EQUIVALENTS Cash and cash equivalents comprise current accounts, savings accounts and short-term bank deposits at fixed prevailing market interest rates. Cash and cash equivalents held by subsidiaries in the PRC are subject to exchange control restrictions. The carrying amount of such balances in the consolidated financial statements as at 31 December 2020 was approximately of US$42.05 million (2019: US$38.08 million). 18. OTHER PAYABLES 2020 2019 US$ US$ Partial consideration received on disposal of investment 4,599,940 4,300,335 Management fee payable 3,391,856 2,699,988 Performance fee payable 9,587,735 — Business tax payable 19,607,487 19,607,487 Other payables 573,136 930,956 Total 37,760,154 27,538,766 19. TAXATION PAYABLE The taxation payable represents applicable PRC taxes calculated at the rates prevailing in the relevant regions mainly for the withholding tax on dividends declared by PRC subsidiary.