This excerpt taken from the CHA 6-K filed Apr 8, 2005.



At 31 December 2004

(Amounts in millions)





Shareholders’ equity


Share capital

   18    80,932    75,614


   19    78,274    75,180

Total shareholders’ equity

        159,206    150,794

Total liabilities and shareholders’ equity

        211,697    187,807


Approved and authorised for issue by the Board of Directors on 31 March 2005.


Wang Xiaochu   Leng Rongquan   Wu Andi
Chairman and Chief   Executive Director,   Executive Director,
Executive Officer   President and Chief   Executive Vice President
    Operating Officer   and Chief Financial Officer



China Telecom Corporation Limited

Annual Report 2004



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