(All amounts in RMB millions)

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	Note	31 Dec 2019	30 Jun 2020
ASSETS
Non-current assets
Property, plant and equipment	14	367,401	357,713
Right-of-use assets	15	43,073	40,695
Goodwill		2,771	2,771
Interest in associates		36,445	36,624
Interest in joint ventures		4,771	5,093
Deferred income tax assets	12	1,226	1,436
Contract assets		595	266
Contract costs		4,923	4,035
Financial assets measured at fair value	16	3,891	3,071
Other assets	18	13,808	13,519
		478,904	465,223
Current assets
Inventories and consumables	19	2,359	2,765
Contract assets		1,308	969
Accounts receivable	20	17,233	25,381
Prepayments and other current assets	21	12,456	13,760
Amounts due from ultimate holding company	35	7,688	10,515
Amounts due from related parties	35	240	242
Amounts due from domestic carriers		3,448	4,019
Financial assets measured at fair value	16	202	2,916
Short-term bank deposits, restricted deposits and other financial assets measured at amortised costs	17	3,716	16,585
Cash and cash equivalents	22	34,945	26,359
		83,595	103,511
Total assets		562,499	568,734
EQUITY
Equity attributable to equity shareholders of the Company
Share capital	23	254,056	254,056
Reserves		(18,803)	(19,499)
Retained profits
– Proposed 2019 final dividend	24	4,529	–
– Others		80,265	87,834
		320,047	322,391
Non-controlling interests		708	762
Total equity		320,755	323,153

	Note	31 Dec 2019	30 Jun 2020
LIABILITIES
Non-current liabilities
Long-term bank loans	25	2,869	2,720
Promissory notes	26	998	1,019
Corporate bonds	27	2,998	2,001
Lease liabilities		21,535	19,026
Deferred income tax liabilities	12	87	87
Deferred revenue		4,851	5,371
Amounts due to related parties		3,042	3,042
Other obligations		174	122
		36,554	33,388
Current liabilities
Short-term bank loans	28	5,564	1,271
Commercial papers	29	8,995	9,131
Current portion of long-term bank loans	25	437	433
Current portion of corporate bonds	27	–	1,002
Lease liabilities		10,790	11,750
Accounts payable and accrued liabilities	30	117,525	122,914
Bills payable		4,039	6,654
Taxes payable		1,534	2,755
Amounts due to ultimate holding company	35	1,779	2,271
Amounts due to related parties	35	7,851	11,510
Amounts due to domestic carriers		2,174	2,424
Dividend payable	24	920	2
Current portion of other obligations		2,604	2,571
Contract liabilities		40,648	37,167
Advances from customers		330	338
		205,190	212,193
Total liabilities		241,744	245,581
Total equity and liabilities		562,499	568,734
Net current liabilities		(121,595)	(108,682)
Total assets less current liabilities		357,309	356,541

The notes on pages 18 to 44 are an integral part of this unaudited condensed consolidated interim financial information.