Exhibit 10.13

 
Approval on Solutions Relating to Start-up Capital for Henan Jinding Chemical
Co., Ltd.

According to the reports from the management of Henan Jinding Chemical Co., Ltd.
(“Jinding”), after the Spring Festival, with the peak season of consumption of
fertilizer and downstream enterprises of methanol resuming production, the
market conditions will further improved for the products of Jinding. Meanwhile,
the purchase price of raw coal decreased as the temperature is rising and coal
production has started. Equipment condition and the staffing are ready to start
production at any time. The only problem is lack of start-up capital. According
to this circumstance, I requested a subsidiary of our group to lend short-term
loan of RMB 20M to Jinding for one year. The loan is expected to be placed by
the end of February, 2011 and no later than early March as start‐up capital.

Xinyang Hongchang Group
CEO:  Chen Siqiang
February 19, 2011
 
 

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