Document:

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                                                                  EXHIBIT  10.38

             AGREEMENT ON CONTRACTING MOBILE COMMUNICATIONS PROJECTS

         This Agreement is executed by Party A and Party B on September 1, 2000
in Jinan:

PARTY A: SHANDONG MOBILE COMMUNICATIONS ENGINEERING BUREAU
Legal representative: Zhao Xuheng
Legal Address: 187 Jing San Lu, Jinan

PARTY B: SHANDONG MOBILE COMMUNICATION COMPANY LIMITED
Legal representative: Li Huabin
Legal Address: 84 Da Wei Er Lu, Shi Zhong District, Jinan

WHEREAS:

1.       In order to develop its mobile communications business and engage in
         normal production and operating activities, Party B needs Party A to
         provide services of base station power supply design, engineering and
         renovation, installation, modulation, transmission line laying and
         maintenance, power equipment maintenance, mast, antenna and feeder line
         engineering, maintenance and overhaul for Party B's mobile
         communications projects.

2.       The Parties hereto agree that Party A shall, in accordance with the
         terms and conditions of this Agreement, contract for Party B various
         installation, engineering and maintenance services and the services
         referred to above.

         THEREFORE, Party A and Party B have reached, through friendly
consultations, the following agreement in the principle of mutual preference and
benefits:

                          ARTICLE ONE SCOPE OF SERVICES

1.1      Within the effective term of this Agreement, Party A agrees to contract
         for Party B, in accordance with the terms and conditions of this
         Agreement, the following services, and to exert its utmost efforts to
         ensure that the services provided by it are of a high quality:

         1.1.1    Base station power supply design, engineering and renovation,
                  equipment installation, modulation, trunk optic cable laying,
                  micro-wave transmission network construction and maintenance,
                  power supply equipment maintenance in respect of various
                  mobile communications projects as required by Party B;

         1.1.2    Engineering, overhaul, renovation and maintenance of Party B's
                  masts, antennas and feeder lines;

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1.2      Services to be provided by B include (see details in the Appendix to
         this Agreement):

         1.2.1    Overhaul, renovation, design and engineering of all base
                  station masts in the province in 2000.

         1.2.2    Base station power supply renovation and engineering in the
                  province in 2000.

                    ARTICLE TWO ITEM AND QUANTITY OF SERVICES

2.1      The specific items and quantities of the services to be provided
         hereunder shall be determined separately by the Parties hereto, and
         such services shall be provided in accordance with the terms set forth
         herein (including standards for service fees). (The specifics and
         quantities of each item of service will be agreed upon by the Parties
         hereto and set out in an appendix to this Agreement.)

                           ARTICLE THREE SERVICE FEES

3.1.     Party B shall pay service fees to Party A for the base station power
         supply design, engineering and renovation, installation, modulation,
         transmission line laying and maintenance, antenna, feeder line and
         power supply equipment maintenance, mast engineering and overhaul
         design provided by Party A under Article 2 above.

3.2.     The mast overhaul design and engineering fees and the base station
         power renovation design and engineering fees shall be charged in
         accordance with the existing national regulations applicable to design
         and engineering fee charging. The transmission line and equipment
         maintenance fees shall be charged at 1% of their original purchase
         prices per year. The mast maintenance fees shall be charged at 2% of
         its original purchase price per year.

3.3.     The transmission line and equipment maintenance fees, the mast
         maintenance fees, the base station maintenance fees, the installation
         fees, the modulation service fees and the antenna, feeder line and
         power supply equipment maintenance fees shall be charged on the basis
         of the market price and shall be no higher than the standards
         stipulated by the State. In the event of any adjustment to such
         standards, the Parties shall follow the standards as adjusted. Prices
         of materials shall be agreed upon by the Parties on the basis of the
         market price.

3.4.     Method of payment:

         In respect of a project contracted to a general contractor, Party B
         shall disburse to Party A an amount equal to 20% of the total costs of
         the project within 15 days after the execution of the contract as
         advancements for material purchase and engineering costs. Party B shall
         make quarterly disbursements to Party A on the basis of the project
         status report and the quarterly project costs settlement statement
         prepared by

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         Party A until 90% of the total costs under the contract (including the
         advancements) has been disbursed. The remaining 10% shall be reserved
         and will be disbursed within 10 days after Party B has finished
         auditing the final accounting statement prepared by Party A.

3.5.     Method of settlement:

         3.5.1    Party A shall prepare the final accounting statement within 10
                  days after the project is inspected and accepted upon its
                  completion, and Party B shall finish auditing such final
                  accounting statement within 15 days after receipt of the same.
                  The final amounts due shall be based on the results of such
                  audit, and in no event shall such amounts be more than the
                  total costs as agreed upon by the Parties.

         3.5.2    The increase or decrease of the project costs as the result of
                  any change(s) in design shall be settled on the basis of the
                  actual costs incurred after such change(s). Any and all
                  changes in design and increase or decrease in project costs
                  are subject to Party B's prior written consent thereto.

         3.5.3    The maintenance fees shall be charged on the basis of the
                  amount of actual maintenance services provided by Party A.

                          ARTICLE FOUR QUALITY CONTROL

4.1      The Parties shall conduct joint research and discussions on the project
         to be constructed prior to the provision of any project services. Prior
         to the commencement of the project, Party A shall organize its relevant
         personnel to study and familiarize themselves with the drawings in
         connection with the project, and to take part in the designing process,
         and formulate a plan satisfactory to Party B. Party A shall also make
         all necessary preparations and keep records of such preparations.

4.2      Party B shall provide Party A with relevant information on the
         renovation, maintenance, installation, engineering and overhaul, base
         station power supply and transmission lines of various mobile
         communications projects as well as necessary assistance.

4.3      Party A shall complete, in accordance with relevant engineering
         procedures, the project within the period agreed upon by the Parties,
         ensure that the quality of the projects is in compliance with relevant
         standards and regulations. Party A shall also satisfy Party B's
         reasonable requirements and provide Party B with the progress status of
         relevant projects on a timely basis.

4.4      In the event that the project services provided by Party A fail to meet
         the applicable regulations and standards, or Party B's any
         communications equipment fails to operate normally after Party A's
         renovation or overhaul, Party B will deduct the service fees payable to
         Party A and will reserve its rights to further claims for such failure.

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4.5      Party B has the right to conduct, on a regular or irregular basis,
         inspections during the process of the project contracted to Party A.

       ARTICLE FIVE INSPECTION AND ACCEPTANCE UPON COMPLETION; MAINTENANCE

5.1      Seven days prior to the completion of a project, Party A shall notify
         Party B in writing the date of inspection and acceptance. If Party B
         can not make the inspection as scheduled, it shall notify Party A in
         advance and consult with Party A for another date of inspection and
         acceptance.

5.2      A project accepted by Party B following inspection shall be transferred
         from Party A in its entirety to Party B within 15 days from the date of
         such inspection and acceptance. If a project already accepted by Party
         B incurs any losses as the result of Party B's failure to take delivery
         of such project on schedule, Party B shall bear any and all such
         losses.

5.3      If any part of a project is deemed to be unqualified and needs redoing
         or repairing during the inspection of such project upon its completion,
         the Parties shall, at the time of such inspection, negotiate with each
         other and agree upon remedial measures and time limit for such remedial
         measures. Party A shall implement such remedial measures within the
         specified time limit. The delivery of such project after redoing or
         repairing shall not take place until the project has passed inspection
         and acceptance procedures upon completion. Expenses and losses incurred
         therefrom shall be borne by Party A.

5.4      Party A shall provide a quality warranty in respect of the project for
         one year from the date on which such project is inspected and accepted
         upon completion. During such warranty period, Party A shall be
         responsible for all repairs, at its sole expense, in connection with
         any accident caused by substandard quality of the project.

                ARTICLE SIX ASSIGNMENT OF RIGHTS AND OBLIGATIONS

         Neither Party may assign any or all of its rights and obligations
hereunder without the other Party's written consent thereto.

                          ARTICLE SEVEN CONFIDENTIALITY

         The Parties shall keep strictly confidential the other Party's business
data and information. Neither Party may, without the other Party's written
consent, provide or disclose to any other organizations or persons any data or
information with regard to the operations of such other Party, unless such
disclosure is required by the applicable laws.

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                ARTICLE EIGHT LIABILITIES FOR BREACH OF CONTRACT

8.1      Party A shall repair or redo, free of charge, any project that fails to
         meet any contractual requirements. In the event of any delay in
         delivery as the result of such repair or redo, Party A shall pay an
         overdue penalty for such delay.

8.2      If Party A fails to complete a project on the date specified in the
         contract, it shall pay Party B a penalty of 0.05% of the total costs
         of the project contracted to it per day.

8.3      If Party B fails to make disbursements of engineering fees as agreed
         upon in this Agreement, or delays the settlement without due reasons,
         it shall pay Party A a penalty of 0.05% of the total costs of the
         project contracted to it per day.

                           ARTICLE NINE FORCE MAJEURE

9.1      Any event or circumstance beyond the reasonable control of a Party and
         unavoidable by the affected Party by exercise of due care shall be
         deemed as an "event of Force Majeure" and shall include, but not
         limited to, earthquake, fire, explosion, storm, flood, lightning or
         war.

9.2      Neither Party shall bear any liability for breach of contract if it
         fails to perform all or any of its obligations hereunder as a result of
         an event of Force Majeure. However, the Party or Parties affected by an
         event of Force Majeure shall, within fifteen days of the occurrence of
         such event, notify the other Party of the details of such event of
         Force Majeure along with the relevant proof.

9.3      A Party/the Parties shall resume the performance of its/their
         obligations hereunder after the effects of such event of Force Majeure
         have been eliminated.

                ARTICLE TEN GOVERNING LAW AND DISPUTE RESOLUTION

10.1     This Agreement shall be governed by and interpreted in accordance with
         the law of the People's Republic of China. Each Party shall irrevocably
         submit any dispute in respect of any claims or other matters arising
         out of or in connection with this Agreement to the Jinan Arbitration
         Commission for arbitration in accordance with its then effective
         arbitration rules. The award of such arbitration shall be final and
         enforceable against the Parties.

10.2     Except for matters under arbitration, the remaining part of the
         Agreement shall be in effect during the time of arbitration.

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                             ARTICLE ELEVEN NOTICES

11.1     Any notice or other document to be given under this Agreement shall be
         delivered in writing and may be delivered in person, sent by registered
         mail or transmitted by facsimile to the Parties at their legal
         addresses stated in this Agreement or any other addresses a Party may
         have notified the other Party in accordance with this Article.

11.2     Any notice or document shall be deemed to have been received at the
         time as follows:

         if delivered in person, at the time of delivery;

         if delivered by registered mail, five (5) business days after being
         posted (excluding Saturdays, Sundays and public holidays); and

         if transmitted by facsimile, upon receipt, or if the time of
         transmission is during non-business hours, it shall be deemed to have
         been given at the beginning of the normal business hours of the
         succeeding day (excluding Saturdays, Sundays and public holidays),
         subject to proof by the sender or confirmation from the facsimile
         machine used for such transmission that a satisfactory transmission has
         been completed.

               ARTICLE TWELVE EFFECTIVENESS AND TERM OF AGREEMENT

12.1     The effective term of this Agreement shall commence on the date on
         which it is affixed with the official seals of and executed by the
         Parties and expire on December 31, 2001. Unless a Party notifies the
         other Party in writing of its intention to terminate this Agreement
         three months prior to the expiration date hereof, this Agreement shall
         automatically be extended for one year upon the expiration of its term.
         The times of such extension shall be unlimited.

12.2     Party A hereby acknowledges that Party B may be transformed into a
         wholly foreign-owned enterprise during the term of the Agreement
         without consent or acknowledgement by Party A either prior to or after
         the event, and that Party B's entire rights and obligations under the
         Agreement shall not be affected or changed on the ground that the
         nature of the company has changed into a wholly foreign-owned
         enterprise. Party A will acknowledge the legal status of such wholly
         foreign-owned enterprise in performing this Agreement.

12.3     In the event that the following conditions are not met, Shandong Mobile
         Communication Company Limited shall be entitled to terminate this
         Agreement at any time. After the termination of this Agreement, the
         Parties shall cease to enjoy any rights or assume any obligations under
         this Agreement or in connection with its termination, except the rights
         and obligations that have incurred under this Agreement prior to such
         termination.

         (1)      China Mobile (Hong Kong) Limited ("CMHK") shall have been
                  granted

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                  relevant waivers by the Stock Exchange of Hong Kong Limited
                  ("HKSE") for CMHK's connected transactions in accordance with
                  the listing rules of HKSE; and

         (2)      The independent shareholders of CMHK who are deemed to be
                  independent in accordance with the listing rules shall have
                  approved relevant transactions.

                         ARTICLE THIRTEEN MISCELLANEOUS

13.1     During the performance of this Agreement, any provision that may become
         invalid or unenforceable will not affect the validity of any other
         provisions hereof.

13.2     Any matter not covered herein may be supplemented, explained, and
         interpreted in a supplementary agreement or appendix to be entered into
         by the Parties. All supplementary agreements and appendices hereto
         shall constitute an integral part of, and have the same force and
         effect as, this Agreement.

13.3     This Agreement is written in Chinese and signed in four counterparts.
         Each Party will keep two copies, and all copies shall be signed by the
         legal representative or authorized representative of each Party or
         affixed with its official seal.

PARTY A:  SHANDONG MOBILE                  PARTY B: SHANDONG MOBILE
          COMMUNICATIONS                            COMMUNICATION COMPANY
          ENGINEERING BUREAU                        LIMITED

By:           s/ Zhao Xuheng               By:        s/ Li Huabin
   -------------------------------------      ----------------------------------
     Legal or authorized representative       Legal or authorized representative

                                       7<PAGE>   1
                                                                   EXHIBIT 10.39

                         CAPITAL CONTRIBUTION AGREEMENT

         This Capital Contribution Agreement (the "Agreement") is executed by
the following three parties on August 30, 2000 in Shandong:

(1)      CHINA MOBILE COMMUNICATIONS CORPORATION, a wholly state-owned limited
         liability company duly established and in valid existence under the
         laws of the People's Republic of China ("PRC"), with its legal address
         at 53 A, Xibianmen Nei Da Jie, Xuanwu District, Beijing, PRC ("China
         Mobile Group");

(2)      SHANDONG COMMUNICATION SERVICE COMPANY, a wholly state-owned enterprise
         duly established and in valid existence under the laws of PRC, with its
         legal address at 77, Jing San Lu, Jinan, PRC (the "Service Company");
         and

(3)      SHANDONG MOBILE COMMUNICATION COMPANY LIMITED, a limited liability
         company duly established and in valid existence under the laws of PRC,
         with its legal address at 84, Da Wei Er Lu, Shi Zhong District, Jinan,
         PRC ("Shandong Mobile").

WHEREAS:

1.       China Mobile Group and the Service Company have jointly established
         Shandong Mobile, and hold 80% and 20% of its equity interest,
         respectively;

2.       Pursuant to the "Notice of Guidance Opinions on Establishing China
         Mobile Group" (Xin Bu Zheng [1999] No. 360) issued by the Ministry of
         Information Industry, the communication businesses and related assets
         in Shandong shall be transferred to and managed by China Mobile Group;

3.       China Mobile Group has decided to inject and contribute the
         communication businesses and related assets in Shandong to Shandong
         Mobile;

4.       The Board of Shandong Mobile agrees by resolution to China Mobile
         Group's injection and contribution of the communication businesses and
         related assets in Shandong to Shandong Mobile;

         THEREFORE, the three Parties, namely China Mobile Group, the Service
Company and Shandong Mobile, have reached the following agreement:

                             ARTICLE ONE DEFINITIONS

1.1 Unless the context indicates otherwise, the following terms shall have the
meanings as defined below:

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         "ASSET APPRAISAL REPORT" shall mean the asset appraisal report, with
         the Base Date being June 30, 2000, prepared by Zhongzi Asset Appraisal
         Company Limited and approved by the Ministry of Finance with regard to
         the assets and liabilities of communication businesses of Shandong
         Mobile (see Appendix A of the Agreement).

         "RELATED INTERESTS AND ASSETS" shall mean all rights, interests and
         assets included in the Asset Appraisal Report and the contracts,
         agreements, certificates, business operation data, files and documents
         in connection with such rights, interests and assets, as well as any
         profits and benefits from such rights, interest and assets accrued
         thereon after June 30, 2000.

         "RELATED LIABILITIES" shall mean all liabilities set out in the
         Liability List in Appendix A of the Agreement and the contracts,
         agreements, certificates, business operation data, files and documents
         in connection with such liabilities.

         "RELATED PERSONNEL" shall mean 4,223 employees engaged in mobile
         communication services and employed by the Shandong Mobile
         Communication Company (the predecessor of the Service Company).

         "RELATED SERVICES" shall mean the mobile communication businesses
         operated by the Shandong Mobile Communication Company (the predecessor
         of the Service Company) in Shandong and all the telecommunication
         operating licenses, spectrum use permits, telecommunication networks
         number resources use approvals, mobile communication base station
         licenses and all other related authorizations held by it.

         "EFFECTIVE DATE" shall mean the date when the Agreement is executed.

1.2      Unless the Agreement specifies otherwise, the articles and schedules
         mentioned herein shall mean the articles and schedules of the
         Agreement. All schedules constitute an integral part of the Agreement.

                  ARTICLE TWO INJECTION OF ASSETS AND SERVICES

2.1      China Mobile Group shall, on the Effective Date, inject all the Related
         Interests and Asset, the Related Liabilities and the Related Services
         into Shandong Mobile.

2.2      Upon the Effective Date, Shandong Mobile shall beneficially own the
         Related Interest and Assets and the Related Services, clear and free of
         any encumbrance, pledge or any other third-party interests, and shall
         assume the Related Liabilities.

2.3      Pursuant to the Asset Appraisal Report, the total value of such Related
         Interests and Assets, the Related Liabilities and the Related Services
         is RMB6,331,851,300.

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2.4      The Base Date of the Asset Appraisal Report is June 30, 2000. During
         the period from the Base Date to the Effective Date, Shandong Mobile
         shall enjoy and assume any and all assets, interests, rights and
         liabilities arising from the Related Interests and Assets, the Related
         Liabilities and Related Services.

2.5      The Service Company should notify the other party to any relevant
         contract regarding the transfer of the Related Interest and Asset, the
         Related Liabilities and the Related Businesses, and obtain such party's
         consent to such transfer.

      ARTICLE THREE EQUITY INTERESTS OF PARTIES AFTER CAPITAL CONTRIBUTION

3.1      After the capital contribution, China Mobile Group and the Service
         Company will own 99.97% and 0.03% of the equity interests,
         respectively, in Shandong Mobile.

                         ARTICLE FOUR RELATED PERSONNEL

4.1      From the Effective Date, the Related Personnel shall be employed by
         Shandong Mobile.

            ARTICLE FIVE REPRESENTATIONS, WARRANTIES AND UNDERTAKINGS

5.1      Each Party hereto warrants that it has all requisite authority, power
         and ability to execute and perform the Agreement. The Agreement, upon
         execution, will constitute legal, valid and binding obligations of each
         of China Mobile Group, the Service Company and Shandong Mobile.

5.2      Each of China Mobile Group and the Service Company hereby represents
         and warrants to Shandong Mobile that, as of the Effective Date,
         Shandong Mobile will own the Related Interests and Assets and the
         Related Services, clear and free of any encumbrance, pledge or any
         other third-party interests, and will assume the Related Liabilities.

                       ARTICLE SIX SETTLEMENT OF DISPUTES

6.1      Any dispute arising from or in connection with the interpretation or
         performance of this Agreement shall be settled by the Parties through
         friendly negotiations conducted among representatives appointed by the
         Parties for this purpose. In the case that no resolution is reached
         through consultations within 90 days after the occurrence of any
         dispute, any Party may bring an action to a competent people's court
         for its judgment.

                              ARTICLE SEVEN NOTICES

7.1      Any notice to be given under the Agreement shall be made in writing and
         sent by mail, telex, telegraph or facsimile to the other Party's
         address set out in the

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         front page of the Agreement or to any other address as such Party may
         designate in writing from time to time.

7.2      Any notice shall be deemed to have been received at the time as
         follows:

         if delivered in person, at the time of delivery;

         if delivered by mail, on the date of the receipt;

         if delivered by telex, at the time of taking back the receipt;

         if transmitted by facsimile, upon delivery.

                           ARTICLE EIGHT GOVERNING LAW

8.1      The Agreement shall be governed by and interpreted in accordance with
         the laws of the PRC.

                              ARTICLE NINE LANGUAGE

9.1      The Agreement is executed in Chinese.

                           ARTICLE TEN EFFECTIVE DATE

10.1     The Agreement shall come into effect upon the date when it is executed
         by the authorized representatives of the Parties.

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PARTY A: CHINA MOBILE COMMUNICATIONS CORPORATION

By:        s/ Xue Taohai
   ----------------------------------
      Authorized representative

PARTY B: SHANDONG COMMUNICATION SERVICE COMPANY

By:        s/ Zhang Xuan
   ----------------------------------
     Authorized representative

PARTY C: SHANDONG MOBILE COMMUNICATION COMPANY LIMITED

By:        s/ Li Huanbin
   ----------------------------------
      Authorized representative

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APPENDIX A

                          MINISTRY OF FINANCE DOCUMENT

                              Cai Qi [2000] No. 269

             ------------------------------------------------------

   LETTER REGARDING OPINIONS ON VERIFICATION OF ASSET APPRAISAL OF INCREASE OF
   CAPITAL IN MOBILE COMMUNICATION COMPANIES LIMITED IN BEIJING AND OTHER SIX
  MUNICIPALITIES, PROVINCES AND AUTONOMOUS REGION AND OF CAPITAL CONTRIBUTION
            IN CHINA MOBILE (HONG KONG) LIMITED BY CHINA MOBILE GROUP

Ministry of Information Industry,

         We are in receipt from your Ministry of the "Application for
Confirmation of Asset Appraisal Results of Increase of Capital in Mobile
Communications Companies Limited in Beijing and Other Six Municipalities,
Provinces and Autonomous Region and of Capital Contribution in China Mobile
(Hong Kong) Limited by China Mobile Group" (Xin Bu Qing [2000] No. 780) and the
Asset Appraisal Reports (Zhong Zi Ping Bao Zi [2000] No. 004-017, 14 such
reports in all) prepared by Zhongzi Asset Appraisal Company Limited. We hereby
reply as follows:

1.       In connection with China Mobile Group's intention to increase its
         investment in the Mobile Communications Companies Limited of seven
         provinces/autonomous region/municipalities, including Beijing, Tianjin,
         Shanghai, Shandong, Hebei, Liaoning and Guangxi, and to inject all of
         its increased interests in the above Mobile Communications Companies
         Limited in such seven provinces/autonomous region/municipalities into
         China Mobile (Hong Kong) Limited, we have found, following our
         verification, that the project proposal regarding asset appraisal of
         the above increase of investment in domestic companies and overseas
         investment by China Mobile Group has been approved, that Zhongzi Asset
         Appraisal Company Limited, the appraisal institution undertaking asset
         appraisal in this project, possesses the asset appraisal credentials
         duly granted by the Ministry of Finance, and that the relevant
         appraisal personnel signing all the asset appraisal reports are
         certified for asset appraisal.

2.       The replacement cost method has been adopted as the major method of
         such appraisals.

3.       The base date of such appraisals is June 30, 2000. The appraisal
         results in the appraisal reports are valid only in respect of the
         assets appraised in this project, the increase of investment by China
         Mobile Group in the Mobile Communications Companies Limited in the
         above seven provinces/autonomous region/cities, and the injection by
         China Mobile Group injects of its entire interests of the above Mobile
         Communications Companies

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         Limited into China Mobile (Hong Kong) following such increase of
         investment. Such result shall become invalid as of June 30, 2001.

4.       Users of such appraisal reports shall focus their attention on the
         special items disclosed therein, the items adjusted as of the base date
         and the legal validity of the appraisal reports.

5.       Legal liabilities of such appraisal reports shall be borne by the
         appraisal institution engaged to undertake such appraisals and the
         registered asset appraisers signing such appraisal reports, and shall
         not be borne by the appraisal administrative department by virtue of
         this verification.

         EXHIBITS:

         1.       Summary statement of the asset appraisal results issued by
                  Zhongzi Asset Appraisal Company Limited regarding the proposed
                  increase of capital in Beijing Mobile Communication Company
                  Limited by China Mobile Group.

         2.       Summary statement of the asset appraisal results issued by
                  Zhongzi Asset Appraisal Company Limited regarding the proposed
                  increase of capital in Tianjin Mobile Communication Company
                  Limited by China Mobile Group.

         3.       Summary statement of the asset appraisal results issued by
                  Zhongzi Asset Appraisal Company Limited regarding the proposed
                  increase of capital in Shanghai Mobile Communication Company
                  Limited by China Mobile Group.

         4.       Summary statement of the asset appraisal results issued by
                  Zhongzi Asset Appraisal Company Limited regarding the proposed
                  increase of capital in Shandong Mobile Communication Company
                  Limited by China Mobile Group.

         5.       Summary statement of the asset appraisal results issued by
                  Zhongzi Asset Appraisal Company Limited regarding the proposed
                  increase of capital in Hebei Mobile Communication Company
                  Limited by China Mobile Group.

         6.       Summary statement of the asset appraisal results issued by
                  Zhongzi Asset Appraisal Company Limited regarding the proposed
                  increase of capital in Liaoning Mobile Communication Company
                  Limited by China Mobile Group.

         7.       Summary statement of the asset appraisal results issued by
                  Zhongzi Asset Appraisal Company Limited regarding the proposed
                  increase of capital in Guangxi Mobile Communication Company
                  Limited by China Mobile Group.

         8.       Summary statement of the asset appraisal results issued by
                  Zhongzi Asset Appraisal Company Limited regarding injection by
                  China

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<PAGE>   8

                  Mobile Group of the assets of Beijing Mobile Communication
                  Company Limited into China Mobile (Hong Kong) Limited.

         9.       Summary statement of the asset appraisal results issued by
                  Zhongzi Asset Appraisal Company Limited regarding injection by
                  China Mobile Group of the assets of Tianjin Mobile
                  Communication Company Limited into China Mobile (Hong Kong)
                  Limited.

         10.      Summary statement of the asset appraisal results issued by
                  Zhongzi Asset Appraisal Company Limited regarding injection by
                  China Mobile Group of the assets of Shanghai Mobile
                  Communication Company Limited into China Mobile (Hong Kong)
                  Limited.

         11.      Summary statement of the asset appraisal results issued by
                  Zhongzi Asset Appraisal Company Limited regarding injection by
                  China Mobile Group of the assets of Shandong Mobile
                  Communication Company Limited into China Mobile (Hong Kong)
                  Limited.

         12.      Summary statement of the asset appraisal results issued by
                  Zhongzi Asset Appraisal Company Limited regarding injection by
                  China Mobile Group of the assets of Hebei Mobile Communication
                  Company Limited into China Mobile (Hong Kong) Limited.

         13.      Summary statement of the asset appraisal results issued by
                  Zhongzi Asset Appraisal Company Limited regarding injection by
                  China Mobile Group of the assets of Liaoning Mobile
                  Communication Company Limited into China Mobile (Hong Kong)
                  Limited.

         14.      Summary statement of the asset appraisal results issued by
                  Zhongzi Asset Appraisal Company Limited regarding injection by
                  China Mobile Group of the assets of Guangxi Mobile
                  Communication Company Limited into China Mobile (Hong Kong)
                  Limited.

                                                    August 28, 2000

                                      (official seal of the Ministry of Finance)

Key Terms: Assets, Appraisal, Verification, Opinion, Letter

Copy to: China Mobile Group, China Mobile (Hong Kong) Limited

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EXHIBIT 4

                SUMMARY STATEMENT OF THE ASSETS APPRAISAL RESULTS
               ISSUED BY ZHONGZI ASSETS APPRAISAL COMPANY LIMITED
  REGARDING THE PROPOSED INCREASE OF CAPITAL IN SHANDONG MOBILE COMMUNICATIONS
                      COMPANY LIMITED BY CHINA MOBILE GROUP
<TABLE>
<CAPTION>
                                                                                               in RMB
Appraisal base date: June 30, 2000                                                          Ten Thousands
------------------------- --------------- ---------------- --------------- --------------- ---------------
                                                                                             INCREASE/
                                            BOOK VALUE       APPRAISAL        INCREASE/      DECREASE
          ITEM              BOOK VALUE    AFTER ADJUSTMENT     VALUE          DECREASE        RATIO (%)
------------------------- --------------- ---------------- --------------- --------------- ---------------
<S>                           <C>             <C>             <C>               <C>                 <C>
Current assets                275,950.88      275,943.22      273,962.49       -1,980.73           -0.72

Fixed assets                  846,712.48      841,754.79      859,592.92       17,838.13            2.12

Including:
     Construction              64,561.76       64,561.76       57,863.92       -6,597.84          -10.37
     in progress

     Buildings                 47,043.43       42,085.74       53,263.62       11,177.88           26.56

     Machinery                735,087.23      735,087.23      748,465.37       13,378.14            1.82

Intangible assets                   0.00        4,965.35       31,830.58       26,865.23              --

Including:
    Land use rights                 0.00        4,965.35       31,830.58       26,865.23              --

Other assets                        0.15            0.15            0.15            0.00            0.00

    Total assets            1,122,663.51    1,122,663.51    1,165,386.14       42,722.63            3.81

Current liabilities           282,031.98      282,031.98      282,695.21          663.23            0.24

Long-term liabilities         249,504.86      249,504.86      249,505.80            0.94            0.00

    Total Liabilities         531,536.84      531,536.84      532,201.01          664.17            0.12

    Net assets                591,126.67      591,126.67      633,185.13       42,058.46            7.11

</TABLE>

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00016-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00016-of-00352.parquet"}]]