<P>中银国际-中国移动-调整盈利 English</P>22 March 2007 (Thursday) 2页

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<P>Pricing pressure to remain. Following recent comments by<BR>industry regulator, Ministry of Information Industry, that the<BR>government encourages the introduction of calling party pay (CPP)<BR>tariff regime, all new monthly packages introduced by China Mobile<BR>are now based on CPP. However, management noted that various<BR>forms of CPP packages had been introduced over the last two years,<BR>and about half of the company’s subscribers were already using such<BR>plans. The company, therefore, does not expect CPP to have any<BR>material impact on its revenue. On the other hand, management also<BR>noted that Chinese regulators were keen to lower roaming charges, in<BR>line with international trend. It is expected that lower roaming rates</P>