Consolidated Statement of Cash Flows
For the year ended 31 December 2018
(Amounts in millions)
Consolidated Statement of Cash Flows
  Note 2017
RMB
2018
RMB
Net cash from operating activities (a) 96,502 99,298
Cash flows used in investing activities
Capital expenditure
(87,334) (83,835)
Lease prepayments
(89) (20)
Purchase of investments
(443) (328)
Proceeds from disposal of property, plant and equipment
2,066 1,866
Proceeds from disposal of lease prepayments
72 45
Proceeds from disposal of investments
96
Net cash (outflow)/inflow from disposal of subsidiaries
184 (1)
Purchase of short-term bank deposits
(2,815) (7,726)
Maturity of short-term bank deposits
3,096 3,949
Net cash used in investing activities (85,263) (85,954)
Cash flows used in financing activities
Principal element of finance lease payments
(84) (73)
Proceeds from bank and other loans
123,250 97,829
Repayments of bank and other loans
(69,953) (106,923)
Repayment of deferred consideration in respect of the Mobile Network Acquisition
(61,710) -
Payment of the acquisition price of the Eighth Acquisition (Note 1)
(87)
Payment of dividends
(7,530) (7,568)
Distribution to non-controlling interests
(89) (177)
Payment for the acquisition of non-controlling interests
(31) (119)
Contribution from non-controlling interests
- 855
Reduction of capital by non-controlling interests
- (20)
Net cash used in financing activities (16,147) (16,283)
Net decrease in cash and cash equivalents (4,908) (2,939)
Cash and cash equivalents at 1 January 24,617 19,410
Effect of changes in foreign exchange rate (299) 195
Cash and cash equivalents at 31 December 19,410 16,666

The notes on pages 169 to 261 form part of these consolidated financial statements.