Bank borrowings

12 Months Ended

Dec. 31, 2020

ZHEJIANG TIANLAN

Bank borrowings

	December 31,
	2020		2019
	RMB’000		RMB’000
Bank loans borrowed by the Company (note i)		10,014		21,834
Bank loans borrowed by subsidiaries of the Company (note ii)		10,015		5,007
		20,029		26,841

(i) The bank loans are denominated in Renminbi and are repayable within 1 year. The bank loans borrowed by the Company as of December 31, 2020 bears interest at fixed rates of 4.79% (2019: 4.57% to 6.33%) per annum. Interest paid during the year ended December 31, 2020 was approximately RMB1,377,000 (2019: RMB1,991,000 and 2018: RMB2,089,000).

(ii) The bank loans are denominated in Renminbi and are repayable within 1 year. The bank loans borrowed by subsidiaries of the Company as of December 31, 2020 bears interest at a fixed rate ranging from 4.5% to 4.79% (2019: 5.22%) per annum and are secured by the subsidiary’s office premises and leasehold improvements and land use right. Interest paid during the year ended December 31, 2020 was approximately RMB287,000 (2019: RMB246,000 and 2018: RMB278,000).