China Mobile Ltd. (NYSE: CHL) recently announced FY 2006 annual results. Lots of good news for investors. China's economy continues to grow rapidly albeit unevenly. Total China Mobile subscribers now exceed 300 million, up 22% from FY 2005. Nearly half of the growth in its subscriber base came from accounts initiated in rural areas. China Mobile is now the largest mobile communications provider in mainland China. It is on track to increase its subscriber base by almost 5 million new accounts per month for FY 2007. China Mobile subscribers used a total of 1,252.15 billion minutes of talk time in FY 2006.

Operating revenue rose 22% from FY 2005. Net profit increased 23%. Basic earnings per share rose 22.5%. China Mobile has also branched out into value-added components of telecommunications in China. This sector increased 38% from FY 2005, and accounted for 23.5% of China Mobile's total operating revenue for FY 2006.

Looking into the future, China Mobile spent $284 million for a 89% stake in Paktel Ltd., Pakistan's state telecom operator. China Mobile is actively preparing for the introduction of third-generation -- 3G -- wireless technology in China to permit the transmission of video and other services. The Chinese government has yet to grant permission for these new services, but they need to be in place well prior to the 2008 Olympics in Beijing. China Mobile has also established a corporate social responsibility committee and issued its first Corporate Responsibility Report.