Milestones

SEPTEMBER 2002
Establishment of the Company with service areas including Shanghai, Guangdong, Jiangsu and Zhejiang.

NOVEMBER 2002
The Company was listed on The Stock Exchange of Hong Kong Limited and the New York Stock Exchange with net proceeds from IPO of approximately US$1.3 billion.

H share:The Stock Exchange of Hong Kong Limited HKEx:728

ADS:New York Stock Exchange Inc. NYSE:CHA

DECEMBER 2003
Acquisition of six telecom companies as its wholly-owned subsidiaries, including Anhui Telecom, Fujian Telecom, Jiangxi Telecom, Guangxi Telecom, Chongqing Telecom and Sichuan Telecom, from China Telecommunications Corporation at a purchase price of RMB46.0 billion, expanding the Company's service areas to 10 provinces.

MAY 2004
Global Offering of approximately 5.3 billion new H shares with net proceeds of approximately US$1.5 billion.

JUNE 2004
Acquisition of ten telecom companies as its wholly-owned subsidiaries, including Hubei Telecom, Hunan Telecom, Hainan Telecom, Guizhou Telecom, Yunnan Telecom, Shaanxi Telecom, Gansu Telecom, Qinghai Telecom, Ningxia Telecom and Xinjiang Telecom from China Telecommunications Corporation at a purchase price of RMB27.8 billion, expanding the Company’s service areas to 20 provinces.

DECEMBER 2004
Mr. Wang Xiaochu was appointed as the Chairman and CEO on the retirement of Mr. Zhou Deqiang.

OCTOBER 2005
Issued 6-month, RMB10 billion denominated short term commercial paper with an annual interest rate of 2.54%.

2006
Strategic transformation gaining momentum with integrated development of voice and non-voice businesses and driving sustained growth; revenue from non-voice business representing 29% of total operating revenues (excluding amortisation of upfront connection fees)