Document:

Agreement for Transfer of CDMA Business, dated July 27, 2008

 Exhibit 4.37 
 English Summary 
 of 
 Agreement for Transfer of CDMA Business 
 Among 
 China Unicom Corporation Limited 
 and 
 China Unicom Limited 
 and 
 China Telecom Corporation Limited 
 China Telecom Corporation Limited (the “Company”), China Unicom Corporation Limited (“CUCL”) and China Unicom Limited (“Unicom”, together
with CUCL, the “Unicom Group”), jointly the parties, entered into an Agreement for Transfer of CDMA Business (the “Acquisition Agreement”) on July 27, 2008. 
 (Unless the context otherwise provides, refer to the last section “DEFINITIONS” for the meanings of the capitalized terms used in this summary.) 
 Pursuant to the Acquisition Agreement, the Company shall acquire the entire CDMA Business owned and operated by the Unicom Group prior to the Completion Commencement Date (including the entire equity interest in China
Unicom (Macau) Company Limited and 99.5% of the equity interest in Unicom Huasheng Telecommunications Technology Co. Ltd. (representing the entire interest in Unicom Huasheng Telecommunications Technology Co. Ltd. held by CUCL)) and relevant assets
(including certain Jointly Used CDMA Network Assets and other related assets as agreed between the Company and CUCL and set out in the Acquisition Agreement) and other assets and liabilities in relation to the CDMA subscribers agreed among the
parties in the Acquisition Agreement. 
 The assets which are to be acquired pursuant to the Acquisition Agreement are more particularly detailed in an
appendix to the Acquisition Agreement, including (i) CDMA subscribers with 133/153 user code numbers as at 12:00 a.m. on the Completion Commencement Date as recorded in CUCL’s billing and other systems, (ii) certain transmission
operations relating to the CDMA Business, (iii) certain Jointly Used CDMA Network Assets, (iv) certain sales office in ten northern provinces, (v) certain intellectual property rights, (vi) certain handset terminals of the CDMA
Business, (vii) certain rights to use CDMA-related computer rooms and equipment, (viii) certain information technology systems and network equipment, (ix) certain other related fixed and moveable assets, (x) certain domestic and
overseas third party contracts and business arrangements (if any), (xi) certain employees of CUCL and (xii) the equity interest in China Unicom (Macau) Company Limited and Unicom Huasheng Telecommunications Technology Co. Ltd. 

The Acquisition Agreement sets out the detailed principles and arrangements on the segregation, verification and transfer mechanism for the Acquired Business and the
parties will prepare a final list of the Acquired Business within 20 days after the Completion 

 
Commencement Date (or such other date as agreed between the parties). In addition, as provided for under the Acquisition Agreement, the Company and its
subsidiaries also entered into a number of ancillary agreements with CUCL and its affiliated companies in relation to the detailed arrangements with respect to the Acquired Business. The Acquisition Agreement has superseded all other previous oral
and written agreements in connection with the Proposed Business Acquisition. 
 CONSIDERATION 
 Consideration 
 The consideration for the Proposed Business Acquisition
shall be RMB43.8 billion (“Preliminary Consideration”), subject to the adjustments described below. 
 Consideration adjustment

 The Preliminary Consideration for the Proposed Business Acquisition shall be adjusted as follows: 
 Preliminary Consideration x A = Final Consideration 
 If R1/R2 plus 0.02 is
equal to or more than 1, then A shall equal 1 
 If R1/R2 plus 0.02 is less than 1, then A shall equal to R1/R2 plus 0.02 
 where 
 R1 is the Unicom CDMA Service Revenue for the six months ended
June 30, 2008 as set out in the 2008 interim report of Unicom. 
 R2 is the Unicom CDMA Service Revenue for the six months ended June 30, 2007 as
set out in the 2007 interim report of Unicom. 
 Payment of consideration 
 The Final Consideration for the Proposed Business Acquisition shall be paid in cash and shall be paid in three instalments to CUCL. 70% of the Final Consideration will be paid on or within three days after the
Completion Commencement Date. Within three days after the Completion End Date (as defined below), the Company shall pay 20% of the Final Consideration. Subject to the Final Completion (as defined below), the Company shall pay the remaining 10% of
the Final Consideration before March 31, 2009. 
 OTHER KEY TERMS OF THE ACQUISITION AGREEMENT 
 Employees 
 The Company agrees with CUCL that 29.3% of the employees
who had employment agreements with CUCL and Unicom Huasheng 

  

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Telecommunications Technology Co. Ltd. as of December 31, 2007 shall be transferred to the Company. Employees whose responsibilities are directly
related to the CDMA Business shall be from CUCL to the Company. In addition, a certain percentage of employees whose responsibilities include supporting the development and general management of the CDMA Business shall be transferred from CUCL to
the Company. A detailed plan has been agreed between the Company and CUCL taking into account the differences in the businesses of the two companies in southern and northern PRC. Employees on secondment to CUCL whose responsibilities are directly
related to the CDMA Business shall also be transferred to the Company. The Company and CUCL will also agree on the number of other employees on secondment to CUCL to be transferred to the Company. 
 Pre-Completion undertakings 
 Except otherwise agreed in the
transaction documents, or with the consent of the Company or the joint working committee (as described below), each of CUCL and Unicom undertakes that prior to the Completion Commencement Date, it will, among others: 
  

	(i)	not make any material changes to the usual operating policy of the Acquired Business (including but not limited to the operation, sales, pricing arrangements and policies of the
Acquired Business); 

  

	(ii)	not make any material changes to the usual financial policy of the Acquired Business; 

  

	(iii)	not enter into, amend or terminate any contracts relating to the Acquired Business involving an amount of RMB20 million or above or invest in or dispose of any asset or liability
relating to the Acquired Business where such asset or liability have a value of RMB20 million or above; 

  

	(iv)	maintain the normal operation of the Acquired Business and provide usual standard services to subscribers of the Acquired Business; 

  

	(v)	actively maintain the subscriber base of the Acquired Business and develop the subscriber base in accordance with its usual sales practice; 

  

	(vi)	provide all necessary assistance to enable the Company to verify the Acquired Business and will complete all Completion preparatory work in accordance with the Completion plan which
is more particularly detailed in an appendix to the Acquisition Agreement; 

  

	(vii)	allow the Company access to the computer rooms and sales offices that are within the scope of the Acquired Business and other information and records in relation to the Acquired
Business; 

  

	(viii)	notify and consult with the Company on any events or circumstances that may have a material adverse effect on the Acquired Business; and 

  

	(ix)	maintain and will not make any material change to the information technology systems which record the CDMA subscribers’ obligations and liabilities attributable to the Acquired
Business before the Completion Commencement Date. 

  

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 Transitional arrangements 
 The Company and CUCL agree on the principles in relation to the transitional arrangements during the period from the Completion Commencement Date to no later than March 31, 2009, which are more particularly detailed in an appendix to
the Acquisition Agreement. Under such arrangements, CUCL shall provide those operating conditions and assurances including, in particular, the reciprocal use of the information technology system and value-added service platform that are necessary to
ensure the normal operation of the CDMA Business during such period. 
 Jointly Used CDMA Network Assets 
 The Company and CUCL shall enter into separate agreement(s) in accordance with the principles set out in the Acquisition Agreement to provide to each other necessary
operational assistance and service support with respect to Jointly Used CDMA Network Assets following Completion to ensure the normal operations of the respective business of the parties after the Completion Commencement Date and that services
provided to subscribers are not affected. 
 Joint working committee 
 The joint working committee that was established pursuant to the Framework Agreement shall continue to be responsible for ensuring the stable operation and transition of the CDMA Business during the course of the
Proposed Business Acquisition. 
 Representations and warranties 
 CUCL represents and warrants that, 
  

	(i)	it has the necessary permission or licence to operate the Acquired Business (including basic telecommunications and value-added telecommunications services); and

  

	(ii)	the transfer of the Acquired Business does not breach any applicable laws, its constitutional documents, or any material contracts between itself and third parties.

 CUCL also makes detailed representations and warranties with respect to the title and condition of the various types of assets that comprise
the Acquired Business, the financial condition of the Acquired Business and the accuracy of the information provided to the Company, which are more particularly detailed in an appendix to the Acquisition Agreement. 
 Unicom represents and warrants that the performance by Unicom of its obligations under the Acquisition Agreement will not result in a breach of any applicable laws, its
constitutional documents, or any material contracts between itself and third parties. Unicom further warrants the accuracy of the representations and warranties made by CUCL. Unicom further guarantees all the obligations, liabilities and indemnities
of CUCL under the Acquisition Agreement. 
 The Company represents and warrants that the performance by the Company of its obligations under the Acquisition
Agreement will not result in a breach of any applicable laws, its constitutional documents, or any material contracts between itself and third parties and that the Company has immediately available funds to pay each instalment of the consideration
for the Proposed Business Acquisition on each payment date. 
  

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 Indemnity by CUCL 
 CUCL agrees to indemnify the Company against all losses suffered by the Company as a result of any disputes, claims or litigation in connection with the Acquired Business existing or taking place before the Completion Commencement Date, or
as a result of activities which were conducted prior to the Completion Commencement Date. 
 COMPLETION OF THE PROPOSED BUSINESS ACQUISITION

 Conditions precedent to Completion 
 Completion of
the Proposed Business Acquisition shall be conditional upon satisfaction or waiver of the following: 
  

	(i)	Unicom has obtained approval from its shareholders in relation to the Proposed Business Acquisition and in such manner as required by applicable laws, regulations and listing rules
and has obtained approval from its independent shareholders in relation to the termination of the Unicom CDMA Lease (including the waiver of the option to purchase the CDMA Network); 

  

	(ii)	CUCL has obtained all approvals for the Proposed Business Acquisition in accordance with applicable laws and regulations; 

  

	(iii)	Unicom Telecommunications has obtained approval from its shareholders in relation to the Proposed Business Acquisition by Unicom and CUCL and in such manner as required by
applicable laws, regulations and listing rules and has obtained approval from its non-affiliated shareholders in relation to the termination of the Unicom CDMA Lease (including the waiver of the option to purchase the CDMA Network);

  

	(iv)	relevant government and regulatory authorities have approved the sale of the Acquired Business and the CDMA Network; 

  

	(v)	there has been no material adverse change to the operation of the CDMA Business; 

  

	(vi)	the Company has obtained approval from its shareholders in relation to the change of business scope and making necessary amendments to the articles of association of the Company and
in such manner as required by applicable laws, regulations and the Listing Rules; 

  

	(vii)	the Company has obtained approval from its independent shareholders in relation to the Telecom CDMA Lease and the agreements on other connected transactions that need to be amended
as a result of the Proposed Business Acquisition and in such manner as required by the Listing Rules; 

  

	(viii)	 the Company and China Telecom Group have obtained all approvals that are necessary to operate the Acquired Business including, but not limited to, approval by the
Ministry of Industry and Information Technology for China Telecom Group to 

  

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operate and license to the Company to operate mobile telecommunications business and to use the relevant telecommunications resources such as CDMA bandwidth
and telecom network numbers has been obtained; 

  

	(ix)	CUCL has performed all necessary procedures as required under applicable laws or other contracts to which CUCL (including procedures in relation to the creditors’ notice and
consents) are subject to in accordance with the Completion plan; 

  

	(x)	the representations and warranties made by Unicom and CUCL in the Acquisition Agreement on the date of the Acquisition Agreement remain true, accurate and complete;

  

	(xi)	CUCL and the Company do not have any dispute on the progress of the Completion preparatory work and the respective provincial branches of CUCL and the Company have entered into
detailed agreements in relation to the implementation of the transactions contemplated under the Acquisition Agreement before August 15, 2008; and 

  

	(xii)	CUCL and the Company have completed business and assets verification in accordance with the detailed provisions in the Completion plan set out in the Acquisition Agreement and
specific revenue due diligence and have agreed on the results of such verification and due diligence. 

 The parties shall use reasonable
endeavours to procure the conditions precedent to be satisfied as soon as practicable before October 1, 2008. In addition, the parties agree that completion of the Proposed Business Acquisition and completion of the acquisition of the CDMA
Network by China Telecom Group from the Network Sellers shall commence at the same time. If the conditions precedent are not satisfied or waived before December 31, 2008 (or any other day as agreed between the parties), the Acquisition
Agreement shall terminate automatically. 
 Completion 
 The completion of the Proposed Business Acquisition shall commence on the Completion Commencement Date. As from the Completion Commencement Date, the Acquired Business shall become legally owned by the Company. Unless agreed otherwise by
CUCL and the Company, any liabilities and obligations related to the Acquired Business before the Completion Commencement Date shall be borne by CUCL, and any liabilities and obligations related to the Acquired Business arising since the Completion
Commencement Date shall be borne by the Company. 
 The Company and CUCL shall complete the necessary procedures for the substantive transfer of the Acquired
Business to the Company within 60 days after the Completion Commencement Date (and the date of completion of such substantive transfer, which shall be confirmed by the Company, Unicom and CUCL in writing, shall be the “Completion End
Date”) in accordance with the Completion plan. Any assets or liabilities which form part of the Acquired Business but the transfer of which have not been completed on the Completion End Date shall be governed by the terms of the Completion plan
until the transfer of such assets or liabilities have been completed (such completion being the “Final Completion”). 
  

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 DEFINITIONS 
 In this
summary of the Acquisition Agreement, unless the context otherwise requires, the following terms have the following meanings: 
  

			
	 “Acquired Business”
	  	the entire CDMA Business owned and operated by CUCL prior to the Completion Commencement Date and relevant assets (including certain CDMA and GSM shared base stations and other related assets as
agreed between the Company and CUCL and set out in the Acquisition Agreement) and other assets and liabilities in relation to the CDMA subscribers agreed between the parties in the Acquisition Agreement and, for the avoidance of doubt, excluding the
equity interest in Unicom Huasheng Telecommunications Technology Co. Ltd.
		
	 “Acquisition Agreement”
	  	the agreement for transfer of CDMA business and the appendices in relation to the Proposed Business Acquisition entered into among the Company, CUCL and Unicom on July 27, 2008
		
	 “CDMA”
	  	Code Division Multiple Access Technology, which is a digital transmission technology that accommodates higher throughput by using various coding sequences to mix and separate voice and data
signals for wireless communication, including all upgrades to such technology from time to time
		
	 “CDMA Business”
	  	the business of providing, operating or marketing the provision of CDMA telecommunications business by the Unicom Group
		
	 “CDMA Network”
	  	the CDMA cellular telecommunications network constructed by Unicom New Horizon
		
	 “China Telecom Group”
	  	China Telecommunications Corporation, a state-owned enterprise established under the laws of the PRC and the controlling shareholder of the Company, with its principal business being the
investment holding of companies primarily involved in the provision of telecommunications services in the PRC, the provision of specialized telecommunication support services and other businesses
		
	 “Company”
	  	China Telecom Corporation Limited, a joint stock limited liability company incorporated in the PRC with limited liability and whose H Shares and American depositary shares are listed on the Main
Board of the Stock Exchange of Hong Kong Limited and the New York Stock Exchange, respectively
		
	 “Completion”
	  	the completion of the Proposed Business Acquisition

  

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	 “Completion Commencement Date”
	  	October 1, 2008 or such other date as may be agreed by the parties under the Acquisition Agreement
		
	 “CUCL”
	  	China Unicom Corporation Limited, a limited liability company incorporated in the PRC and a wholly-owned subsidiary of Unicom
		
	 “Final Consideration”
	  	the final purchase price as determined following adjustment of the Initial Consideration in accordance with the price adjustment mechanism in the Acquisition Agreement
		
	 “Framework Agreement”
	  	the Framework Agreement for Transfer of the CDMA Business entered into among the Company, CUCL and Unicom on June 2, 2008
		
	 “GSM”
	  	global cellular system for mobile communications, a digital cellular telephone system operating in the 900 MHz, 1800 MHz and 1900 MHz frequency band based on digital transmission and cellular
network architecture with roaming
		
	 “Jointly Used CDMA Network Assets”
	  	assets which are jointly used by the CDMA Business or network, and other business or network of CUCL
		
	 “Listing Rules”
	  	Rules Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited
		
	 “MHz”
	  	Megahertz, a unit of measure of frequency; 1 MHz is equal to one million cycles per second
		
	 “Network Sellers”
	  	Unicom Parent and Unicom New Horizon
		
	 “PRC”
	  	the People’s Republic of China which, for the purposes of this summary, not including the Hong Kong Special Administrative Region, the Macau Special Administrative Region and
Taiwan
		
	 “Proposed Business Acquisition”
	  	the proposed acquisition of the Acquired Business from CUCL by the Company
		
	 “RMB”
	  	Renminbi, the lawful currency of the PRC
		
	 “Telecom CDMA Lease”
	  	the CDMA network capacity lease agreement dated July 27, 2008 between the Company and China Telecom Group
		
	 “Unicom”
	  	China Unicom Limited, a company incorporated in Hong Kong whose shares are listed in the Main Board of the Stock Exchange of Hong Kong Limited and whose American depositary shares are listed on
the New York Stock Exchange

  

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	 “Unicom CDMA Lease”
	  	the CDMA network capacity lease agreement dated October 26, 2006 between Unicom Telecommunications, Unicom New Horizon and Unicom Parent
		
	 “Unicom CDMA Service Revenue”
	  	the service revenue generated by Unicom in the course of operating its CDMA telecommunication business exclusive of the total revenue from the sale of telecommunication products
		
	 “Unicom Group”
	  	Unicom and CUCL
		
	 “Unicom New Horizon”
	  	Unicom New Horizon Mobile Telecommunications Company Limited, a company incorporated in the PRC and a wholly-owned subsidiary of Unicom Parent
		
	 “Unicom Parent”
	  	China United Telecommunications Corporation, a limited liability company incorporated in the PRC and the ultimate shareholding company of Unicom
		
	 “Unicom Telecommunications”
	  	China United Telecommunications Corporation Limited, a joint stock limited liability company incorporated in the PRC whose shares are listed on the Shanghai Stock Exchange

  

 9Merger Agreement, dated November 14, 2008

 Exhibit 4.38 
 [English Translation of Chinese Original] 
 China Telecom Corporation Limited 
 And 
 China Telecom Group Beijing
Corporation 
 Merger Agreement 
 November 14th, 2008 

 This agreement is signed by the following two parties in Beijing, P.R.C. on
November 14th, 2008: 
 The Merging Party: China Telecom Corporation Limited is a joint stock limited liability company that is duly established and validly existing
under Chinese laws. The legal address of the company is 31 Jinrong Street, Xicheng District, Beijing. The registration number of its business license is 1000001003712, and its legal representative is Wang Xiaochu. 
 The Merged Party: China Telecom Group Beijing Corporation is a limited company that is duly established and validly existing under Chinese laws.
The legal address of the company is 21 Chaoyangmen Beidajie, Dongcheng District, Beijing. The registration number of its business license is 1000001003691, and its legal representative is Liu Bo. 
 Whereas, 
 1. To optimize the organizational
structure and promote the core competitiveness of the company, and based on the practical needs emerged in the process of company development, the Merging Party intends to merge the Merged Party. 
 2. On the date when this agreement is signed, the Merged Party is a wholly owned subsidiary of the Merging Party and the Merging Party holds 100% equity
of the Merged Party (hereafter, referred to as “Equity”). 
 Based on friendly consultation and in accordance with relevant laws
and regulations of China, both parties enter into the following agreement (hereafter, referred to as “this Agreement”): 
 Article I Definition 
 Unless otherwise stipulated in this Agreement, the terms below are defined as follows: 
 Both parties of this Agreement: refers to China Telecom Corporation Limited and China Telecom Group Beijing Corporation. 
 Both parties of the merger: refers to the Merging Party and the Merged Party. 
 Merger by absorption: refers to the act of the Merging Party to absorb and merge the Merged Party according to the terms and conditions provided
by this Agreement. After the merger, the Merging Party will continue to exist while the Merged Party will be dissolved and all its assets, creditor’s rights and liabilities will be taken over as a whole by the Merging Party. 
 The base date of the merger: June 30, 2008. 
  

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 Article II Merger by Absorption 
 2.1 Both parties of this Agreement hereby confirm that before the merger, the Merging Party holds legally 100% Equity of the Merged Party. 
 2.2 Both parties of this Agreement agree that the Merging Party shall merge the Merged Party, and upon completion of the merger, the Merging Party will
continue to exist as the surviving company and the Merged Party will be dissolved according to laws. 
 2.3 After the completion of the
merger, neither the registered capital nor the equity structure of the Merging Party will be changed due to the merger. 
 2.4 Both parties
of this Agreement agree that since the base date of the merger, all the assets, businesses, creditor’s rights, interests, rights and interests, debts, obligations and responsibilities shall be deemed as already having been taken over by the
Merging Party. 
 Article III Transfer of the Creditor’s Rights, Debts and Assets in the Merger 
 3.1 Both parties of this Agreement confirm that unless otherwise stipulated in this Agreement, such assets and debts together with the rights and
obligations related shall be undertaken automatically by the Merging Party in whole, including but not limited to: 
 (a) the rights and
interests owned by the Merged Party in its branches and departments; 
 (b) the licenses to operate all the businesses of the Merged Party;

 (c) all the equipments and movable assets owned by the Merged Party, including but not limited to tools, communications equipments,
furnishings and other devices in the offices, such as computers, telephones, fax machines and photocopiers, other equipments in the offices and vehicles; 
 (d) all the lands for which the Merged Party has the use right and all the buildings and other facilities (including the projects under construction) for which the Merged Party holds the ownership; 
 (e) the rights and obligations assumed by the Merged Party under all the contracts and agreements signed in the name of the Merged Party; 
 (f) bank deposits and/or down payments and advance payments owned by the Merged Party, including but not limited to those opened or kept by the Merged
Party in its name and/or by others on behalf of the Merged Party (including the rights and interests thus involved); 
 (g) all the business
records, financial and accounting records, operation records, statistics, user’s manuals, maintenance brochures, training brochures and other documents and data, no matter whether they are recorded in written or in electronic forms stored in
the floppy disks or hard disks or in any other forms; 
  

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 (h) all the certificates of rights, permits, licenses, certifications and power of attorney and
authentications granted to the Merged Party by relevant government departments and authorities; 
 (i) guarantees, requests, claims,
creditor’s rights and other similar rights and obligations related to or resulted from the assets and liabilities of the Merged Party; 
 (j) the trademarks and patents owned by the Merged Party; 
 (k) labor contracts and agreements of the employees (including the
retired ones) of the Merged Party, and all the personnel files and records and data concerning the salary, social security and other welfare of such employees; 
 (l) unless otherwise stipulated in this Agreement, all the debts (be them definite debts, contingent debts, known debts, unknown debts or other types of debts), losses, claims, obligations and liabilities related to
or resulted from the businesses, assets and liabilities of the Merged Party, including but not limited to all the debts, losses, claims, obligations and liabilities stipulated in the contracts of the Merged Party; the debts, claims, obligations and
liabilities assumed by the Merged Party toward all its employees (including retired ones) and the salary, bonus, insurance, housing and other welfare that should be paid to the family members of the employees or to those raised by the employees
according to relevant laws and regulations; 
 (m) all the unresolved tax matters of the Merged Party; and 
 (n) other assets and liabilities of the Merged Party. 
 Article IV Arrangement of Employees 
 4.1 Both parties of this Agreement agree that the employment relationship between the
Merged Party and all its employees is still valid and will be taken over by the Merging Party, i.e. all the rights and obligations of the Merged Party under the valid labor contracts between the Merged Party and its employees shall be succeeded and
performed by the Merging Party, including but not limited to the employees’ salaries, social security funds, housing funds, and other welfare which must be provided by the Merged Party in accordance with relevant laws in China, except those
that have already been performed or paid up by the Merged Party. 
 Article V Relevant Follow-up Matters 
 5.1 Both parties of this Agreement undertake that after signing this Agreement, both parties shall cooperate with each other in order to complete the
merger, including but not limited to: going through all the legal procedures concerning de-registration in tax bureau, industry and commerce authority and state-owned assets ownership registration authority. 
  

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 Article VI Representation, Guarantee and Commitment by the Merging Party 
 6.1 The Merging Party hereby makes the representation, guarantee and commitment to the Merged Party: the Merging Party enjoys the full right, power and
capacity to sign and perform this Agreement, and it has obtained all the approval, permit and authorization needed for the execution and performance of this Agreement; once this Agreement is signed, this Agreement shall be binding to the Merging
Party in full legal force and effect. 
 Article VII Representation, Guarantee and Commitment by the Merged Party 
 7.1 The Merged Party hereby makes the representation, guarantee and commitment to the Merging Party: the Merged Party enjoys the full right, power and
capacity to sign and perform this Agreement, and it has obtained all the approval, permit and authorization needed for the execution and performance of this Agreement; once this Agreement is signed, this Agreement shall be binding to the Merged
Party in full legal force and effect. 
 Article VIII Taxes and Expenses 
 8.1 Both parties of this Agreement shall pay respectively, according to the provisions made by the state laws and administrative regulations, the income
tax, business tax, stamp tax and other types of taxes (if any) resulted from the execution and performance of this Agreement and the merger provided in this Agreement. 
 Article IX Effectiveness and Completion 
 9.1 This Agreement comes into effect on the date the legal
representatives or authorized representatives of both parties sign this Agreement and stamp the official seals of both parties. 
 9.2 The
merger provided herein shall become effective upon respective approval by both parties in accordance with their articles of association. 
 9.3 Unless otherwise stipulated in this Agreement, the merger is considered to be completed on the date when the Merged Party completes the de-registration procedures with the original industry and commerce registration authority.

 Article X Indemnity 
 10.1 If either party of this Agreement violates any representation, guarantee or commitment it has made or any provisions under this Agreement, the action is considered a breach to this Agreement. The party in breach should actively correct
its breach and indemnify the other party for the loss it suffered from the breach. 
  

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 10.2 After the completion of the merger provided in this Agreement, if any third party makes any claim to
the Merging Party concerning the assets or liabilities of the Merged Party and such a claim is based on the situation of the assets and liabilities of the Merged Party before the date of the completion of the merger, the Merging Party shall assume
the corresponding responsibilities. 
 Article XI Force Majeure 
 11.1 “Force majeure” refers to the all the unforeseeable events that may happen after this Agreement comes into effect, whose occurrence and
consequences are unavoidable and insurmountable and which render either party of this Agreement unable to perform part or all of the obligations under this Agreement. 
 11.2 In case of force majeure, both parties may suspend the performance of the obligations under this Agreement for a period of delay caused by the force majeure, and such period will be automatically extended for a
period corresponding to such suspension. 
 11.3 The party affected by the force majeure shall notify the other party in writing as soon as
possible, and provide within fifteen days the valid proof certifying the occurrence and duration of such force majeure event. The affected party shall take all reasonable measures to mitigate the consequences of the force majeure as soon as
possible. 
 11.4 When any force majeure event occurs, both parties should start consultation immediately to seek a fair solution to the
problem and try their best to mitigate the consequences of the force majeure. 
 Article XII Settlement of Dispute and Governing Law 

 12.1 The governing law of this Agreement is the Chinese laws and this Agreement shall be interpreted according to Chinese laws.

 12.2 For any dispute caused by and related to this Agreement, both parties of this Agreement shall attempt to solve it through friendly
consultation. If the dispute fails to be solved through consultation fails, any party can bring a suit over the dispute to the people’s court with jurisdiction at any time. 
 Article XIII Other Provisions 
 13.1 If any term of this Agreement is determined
as invalid or unenforceable by the people’s court with jurisdiction, the remaining terms shall not be affected and shall be performed with full force and effect. 
 13.2 Any explicit or implied provision of this Agreement is not intended to and shall not be deemed to grant or give any person or organization (other than the two parties, their successors and authorized assignees of
this Agreement) the rights or remedies provided hereunder or caused by this Agreement. 
  

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 13.3 This Agreement is the entire agreement on the subject matter of this Agreement and it shall
supersede all the previous agreements and understandings concerning the subject matter agreed upon both parties. This Agreement shall not be amended or terminated without the written consent by both parties of this Agreement. 
 13.4 Any party of this Agreement shall not transfer this Agreement or the rights it enjoys or the liabilities and obligations it assumes hereunder
without the prior written consent of the other party. 
 13.5 This Agreement is binding on legal successors of both parties of this
Agreement. 
 13.6 There are ten original copies of this Agreement. Each party of this Agreement shall hold one copy respectively. The other
copies will be submitted to government authorities or kept by the Merging Party. All the original copies enjoy equal legal force. 
 13.7 Any
change or modification of this Agreement shall be subject to the consent of both parties of this Agreement and shall be in writing. 
  

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 Signature Page 
 NOW, IN WITNESS HEREOF, the legal representatives or authorized representatives of both parties of this Agreement hereby execute this Agreement on the date and venue indicated at the beginning of this Agreement.

  

					
	China Telecom Corporation Limited	  	
	(Corporate Seal)	  	
			
	Legal representative or authorized representative:	  	 /s/ Wu Andi
	  	
		
	China Telecom Group Beijing Corporation	  	
	(Corporate Seal)	  	
			
	Legal representative or authorized representative:	  	 /s/ Liu Bo
	  	

  

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