Annual Report 2019

China Merchants China Direct Investments Limited Annual Report 2019 101 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2019 5. FINANCIAL INSTRUMENTS (CONTINUED) Fair value measurement of financial instruments (continued) Fair value of the Group’s financial assets and financial liabilities that are measured at fair value on a recurring basis (continued) The Directors consider that the carrying amounts of financial assets and financial liabilities recorded at amortised cost in the consolidated financial statements approximate their fair values at the both year ends. Level 1 Level 2 Level 3 2019 Total US$ US$ US$ US$ Financial assets at FVTPL 343,741,290 14,907,829 370,232,322 728,881,441 Financial liabilities designated at FVTPL 106,007 — 1,084,041 1,190,048 Level 1 Level 2 Level 3 2018 Total US$ US$ US$ US$ Financial assets at FVTPL 247,736,786 — 386,473,390 634,210,176 Financial liabilities designated at FVTPL 137,801 — 1,168,773 1,306,574