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                                                                   Exhibit 10.18

                                                                  EXECUTION COPY

                      DATED the 20th day of September 2004


          HUTCHISON INTERNATIONAL LIMITED                          (1)


          HUTCHISON TELECOMMUNICATIONS                             (2)
          INTERNATIONAL (CAYMAN) HOLDINGS LIMITED


          HUTCHISON GLOBAL COMMUNICATIONS                          (3)
          INVESTMENT HOLDING LIMITED


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                               TRANSFER AGREEMENT

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THIS TRANSFER AGREEMENT is made the 20th day of September 2004

BETWEEN

(1)     Hutchison International Limited, a company incorporated in Hong Kong
        whose registered office is at 22/F Hutchison House, 10 Harcourt Road,
        Hong Kong (the "Transferor");

(2)     Hutchison Telecommunications International (CAYMAN) Limited, a company
        incorporated in the Cayman Islands whose registered office is at Century
        Yard, Cricket Square, Hutchins Drive, P.O. Box 2681GT, George Town,
        Grand Cayman, British West Indies, Cayman Islands (the "Transferee");
        and

(3)     HUTCHISON GLOBAL COMMUNICATIONS INVESTMENT HOLDING LIMITED, a company
        incorporated in the British Virgin Islands whose registered office at
        P.O. Box 957, Offshore Incorporations Centre, Road Town, Tortola,
        British Virgin Islands (the "Depositor").

WHEREAS:

(A)     Pursuant to a Sale and Purchase Agreement of even date hereof (the
        "Share Sale and Purchase Agreement"), HTI (BVI) Holdings Limited agreed
        to purchase, and Hutchison Telecommunications Limited agreed to sell,
        320 shares of US$1.00 each in the Depositor.

(B)     The Depositor has deposited with the Transferor an amount of
        HK$1,683,793,928 (the "Deposit").

(C)     Subject to completion of the Share Sale and Purchase Agreement, the
        Transferor agreed to transfer the Deposit to the Transferee and the
        Transferee agreed to hold the Deposit for the Depositor on the terms and
        subject to the conditions set out herein.

NOW THIS AGREEMENT WITNESSETH as follows:

1.      In consideration of the Transferor being fully and absolutely released
        from its obligations to repay the Deposit to the Depositor, the
        Transferor hereby assigns and transfers unto the Transferee absolutely
        all its rights, title and interest in the Deposit TO HOLD the same unto
        the Transferee absolutely.

2.      The Transferor hereby warrants to the Transferee that:

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        (a)     the Deposit is free from all claims, charges, liens,
                encumbrances, options, equities of any kind, compromise,
                releases, waivers, defects, and any agreement for any of the
                same; and

        (b)     the Transferor has the right, authority and power to transfer
                the Deposit in the manner set out in this Agreement.

3.      The Transferee hereby acknowledges and confirms that as from the date
        hereof the Deposit is owed by the Transferee to the Depositor, and that
        the Depositor is entitled at any time and from time to time to require
        repayment of all or part of the same and that it will make all payments
        due in respect of the Deposit and discharge all its obligations in
        respect thereof directly to the Depositor on the demand of the
        Depositor.

4.      All payments made by the Transferor under Clause 1 of this Deed shall be
        made gross, free of any rights of counterclaim or set-off and without
        any deductions or withholdings of any nature.

5.      Each party hereto undertakes to the other parties that it will do all
        such things and execute all such documents as may be necessary or
        desirable to carry into effect or to give legal effect to the provisions
        of this Deed and the transactions hereby contemplated.

6.      Each party undertakes that it shall not reveal, and shall cause its
        shareholders, directors, senior executives, employees and agents not to
        reveal, to any third party any information concerning the transactions
        contemplated hereunder and/or the contents hereof (collectively,
        "Confidential Information") without the prior written approval of the
        other parties hereto.

        Nothing in this Section 6 shall prevent a party hereto from using or
        disclosing any Confidential Information which (a) is already known by
        such party at the time it is disclosed to it; (b) has been rightfully
        received by such party from a third party without a breach of an
        obligation of confidentiality; (c) is in the public domain through no
        wrongful act of such party; (d) is independently developed by such party
        without use, directly or indirectly, of the Confidential Information;
        (e) is required to be disclosed by applicable law, regulation or legal
        process or by judicial order; or (f) is in connection with the proposed
        spin off and listing of Hutchison Telecommunications International
        Limited.

        Notwithstanding anything contained in this Agreement, each party
        acknowledges and agrees that the other party(ies) may be required by law
        or any competent regulatory body (including but without limitation to
        The Stock Exchange of Hong Kong Limited and the Securities and Futures
        Commission) to issue time sensitive and/or urgent announcements relating
        to this Agreement or matters contemplated under this Agreement. Each
        party shall procure to be provided to the other parties a copy of each
        drafts of such time sensitive and/or urgent announcements promptly,

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        and shall consider in good faith any comments provided to it in a timely
        manner by the other parties to the extent reasonably practicable within
        the time frame stipulated by law or by the relevant competent regulatory
        body.

7.      Any notice required or permitted to be given by or under this Deed shall
        be given in writing by delivering it to the party concerned to the
        address or facsimile number of that party below or such other address or
        facsimile number as the party concerned may have notified to the others
        in accordance with this Clause 7. Any such notice shall be deemed to be
        served if sent by hand at the time of delivery, or if sent by facsimile,
        on the date of complete transmission, or if sent by post, the third day
        after posting, or if sooner upon acknowledgement of receipt by or on
        behalf of the party to which it is addressed.

            Transferor:
            Address:    22nd Floor, Hutchison House, 10 Harcourt Road, Hong Kong
            Attention:  Company Secretary
            Fax No.:    (852) 2128 1778

            Transferee:
            Address:    22nd Floor, Hutchison House, 10 Harcourt Road, Hong Kong
            Attention:  Company Secretary
            Fax No.:    (852) 2128 1778

            Depositor:
            Address:    22nd Floor, Hutchison House, 10 Harcourt Road, Hong Kong
            Attention:  Company Secretary
            Fax No.:    (852) 2128 1778

8.      This Agreement is governed by and shall be construed in accordance with
        the laws of the Hong Kong Special Administrative Region of the People's
        Republic of China ("Hong Kong") for the time being in force and the
        parties hereto hereby irrevocably submit to the non-exclusive
        jurisdiction of the Hong Kong courts in relation to any proceedings
        arising out of or in connection with this Agreement.

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IN WITNESS whereof this Agreement has been duly signed the date first above
written.


Signed by                                       )
Edith Shih                                      )        /s/  Edith Shih
For and on behalf of                            )
HUTCHISON INTERNATIONAL LIMITED                 )
in the presence of :                            )

/s/ Patricia L.C. Hui


Signed by                                       )
Susan Chow                                      )        /s/  Susan Chow
For and on behalf of                            )
HUTCHISON TELECOMMUNICATIONS                    )
INTERNATIONAL (CAYMAN) HOLDINGS                 )
LIMITED                                         )
in the presence of :                            )

/s/  Steven P. Allen


Signed by                                       )
Susan Chow                                      )        /s/  Susan Chow
For and on behalf of                            )
HUTCHISON GLOBAL                                )
COMMUNICATIONS HOLDINGS LIMITED                 )
was hereunto affixed in the presence of :       )

/s/  Steven P. Allen