Financial Review
Group Cash Flows
| CITIC Limited | Including -CITIC Bank | |||||||
| In HK$ million | 2014 | 2013 (restated) | Increase/ (Decrease) | 2014 | 2013 | lncrease/ (Decrease) | ||
| Net cash generated from/ (used in) operating activities | 58,937 | (146,823) | 205,760 | 140% | 43,100 | (170,731) | 213,831 | 125% |
| Net cash used in investing activities | (107,591) | (63,329) | 44,262 | 70% | (60,939) | (12,939) | 48,000 | 371% |
| Including: Proceeds from disposal and redemption of investments | 561,530 | 654,253 | (92,723) | (14%) | 516,738 | 599,509 | (82,771) | (14%) |
| Payments for purchase of investments | (653,689) | (680,757) | (27,068) | (4%) | (563,452) | (606,036) | (42,584) | (7%) |
| Net cash generated from financing activities | 59,518 | 43,356 | 16,162 | 37% | 56,028 | 14,691 | 41,337 | 281% |
| Including: Proceeds from new bank and other loans and new debt instruments issued | 264,747 | 208,176 | 56,571 | 27% | 123,463 | 38,092 | 85,371 | 224% |
| Repayment of bank and other loans and debt instruments issued | (180,174) | (138,163) | 42,011 | 30% | (50,161) | (11,702) | 38,459 | 329% |
| Interest paid on bank and other loans and debt instruments issued | (19,286) | (19,039) | 247 | 1% | (4,637) | (2,904) | 1,733 | 60% |
| Dividends paid to ordinary shareholders | (22,741) | (620) | 22,121 | 3568% | (9,962) | (5,439) | 4,522 | 83% |
| Dividends/distribution paid to non-controlling interests/holders of perpetual capital securities | (7,121) | (5,268) | 1,853 | 35% | (5,002) | (3,356) | 1,646 | 49% |
| Net increase/(decrease) in cash and cash equivalents | 10,864 | (166,796) | 177,660 | 107% | 38,189 | (168,979) | 207,168 | 123% |
| Cash and cash equivalents at 1 January | 337,894 | 494,104 | (156,210) | (32%) | 253,924 | 415,401 | (161,477) | (39%) |
| Effect of exchange rate changes | (867) | 10,586 | (11,453) | (108%) | (2,617) | 7,502 | (10,119) | (135%) |
| Cash and cash equivalents at 31 December | 347,891 | 337,894 | 9,997 | 3% | 289,496 | 253,924 | 35,572 | 14% |
Capital expenditure
| In HK$ million | 2014 | 2013 (restated) | Increase/(Decrease) | |
| Financial services | 5,046 | 15,767 | (10,721) | (68%) |
| Resources and energy | 12,257 | 14,609 | (2,352) | (16%) |
| Manufacturing | 4,619 | 5,656 | (1,037) | (18%) |
| Engineering contracting | 541 | 180 | 361 | 201% |
| Real estate and infrastructure | 1,451 | 7,596 | (6,145) | (81%) |
| Others | 2,731 | 13,709 | (10,978) | (80%) |
| Subtotal | 26,645 | 57,517 | (30,872) | (54%) |
| Real estate development | 33,590 | 29,895 | 3,695 | 12% |
| Total | 60,235 | 87,412 | (27,177) | (31%) |
Capital commitments
As at 31 December 2014, the contracted capital commitments of the Group amounted to approximately HK$49,676 million. Details are disclosed in Note 47 to the consolidated financial statements.