Annual Report 2021

China Merchants China Direct Investments Limited Annual Report 2021 131 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2021 16. OTHER RECEIVABLES AND PREPAYMENTS 2021 2020 US$ US$ Consideration receivable on disposal of investment 12,658,436 — Dividend receivable 924,962 1,636,025 Interest receivable 45,339 39,915 Other receivables and prepayments 111,999 326,360 Total 13,740,736 2,002,300 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 2021 was approximately of US$15.61 million (2020: US$42.05 million). 18. OTHER PAYABLES 2021 2020 US$ US$ Partial consideration received on disposal of investment 4,713,722 4,599,940 Management fee payable 3,514,957 3,391,856 Performance fee payable 4,906,543 9,587,735 Business tax payable 19,607,487 19,607,487 Other payables 629,832 573,136 Total 33,372,541 37,760,154 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.