Annual Report 2022

135 China Merchants China Direct Investments Limited Annual Report 2022 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED) For the year ended 31 December 2022 16. OTHER RECEIVABLES AND PREPAYMENTS 2022 2021 US$ US$ Consideration receivable on disposal of investment — 12,658,436 Dividend receivable — 924,962 Interest receivable 38,517 45,339 Other receivables and prepayments 20,933 111,999 Total 59,450 13,740,736 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 2022 was approximately of US$11.20 million (2021: US$15.61 million). 18. OTHER PAYABLES 2022 2021 US$ US$ Partial consideration received on disposal of investment — 4,713,722 Management fee payable 4,925,719 3,514,957 Performance fee payable — 4,906,543 Other tax payable 18,960,388 19,607,487 Other payables 808,893 629,832 Total 24,695,000 33,372,541 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 a PRC subsidiary.