China Mobile profit surges

China Mobile Ltd's profit surged 29 percent in the second quarter as the company added a record number of users, driven by gains in rural areas, where lower-income residents were attracted by reduced charges.

Net income of the world's largest mobile phone operator by subscribers rose to 20.3 billion yuan from 15.8 billion yuan a year earlier, according to calculations based on the first-half earnings reported by the Beijing-based company yesterday.

The company's shares fell 4.9 percent to HK$80.85, or 3.92 percent, in Hong Kong.