Shares of China Netcom Group, China's second-biggest fixed-line phone company, have jumped 14 percent in their New York trading debut.

The company's American depositary shares rose to 24.90 US dollars on the New York Stock Exchange composite trading on Tuesday from an initial public offer price of 21.82 US dollars.

China Netcom raised 1.14 billion US dollars to expand its networks and pay bank loans.

An analyst says the Beijing-based company lured investors with higher dividends and a cheaper price relative to earnings than its biggest rival, China Telecom.

Netcom sold shares at about nine times its estimated 2004 profit, offering a yield of as much as 4.5 percent. China Telecom, the nation's largest fixed-line phone company, trades at about 10.5 times this year's profit.

Source: CRI/agencies