f8k0210ex10viii_artisty.htm


    Exhibit
10.8

    LEASE
AGREEMENT

     

    Translation

     

    


     

    Party A:
Chongqing Foguang Tourism Development (Group) Co., Ltd.

     

    Party B:
Chongqing Guobang Industrial Co., Ltd.

     

    


     

                Through
friendly consultation, the parties enter into the following agreement pursuant
to the Contract Law of the People’s Republic of China, the Law on Administration
of Urban Real Estate of the People’s Republic of China and other relevant laws
and regulations:

     

    
      	
              I.  

            	
              Party
      A agrees to lease to Party B the property located at the 4th
      Floor of the Huigong Shopping Mall with a total area of 1,938.17 square
      meters.

            


    

     

    
      	
              II.  

            	
              The
      property is located at 1 Huigong Road, Huigong Tower 4th
      Floor, Nan’an District, Chongqing, as certified in the following
      certificates:

            


    

     

    
      	
              ·  

            	
              Property
      Ownership Certificate # (2006)09328, 630.36 square
  meters

            


    

     

    
      	
              ·  

            	
              Property
      Ownership Certificate # (2006)09330, 630.36 square
  meters

            


    

     

    
      	
              ·  

            	
              Property
      Ownership Certificate # (2006)09329, 630.36 square
  meters

            


    

     

    
      	
              III.  

            	
              Lease
      Term and Payment

            


    

     

    
      	
              1.  

            	
              The
      monthly rent is RMB 192,000.

            


    

     

    
      	
              2.  

            	
              Party
      B shall pay the monthly rent five days in advance of the next month. Party
      B shall not have the obligation to pay rent until it subleases the
      property and receives rent.

            


    

     

    
      	
              IV.  

            	
              Purpose
      and Transfer of Lease: Party A understands and agrees that Party B will
      sublease the property to a third party. Party A shall not interfere with
      Party B’s use of the property.

            


    

     

    
      	
              V.  

            	
              During
      the term of the Agreement, if Party B and the sub-tenant of the sublease
      terminate the lease agreement, Party B shall have the right to decide if
      this Agreement will be continued or terminated. In this circumstance, if
      Party B decides to terminate the Agreement, Party B shall notify Party A
      in writing. Party A shall make sure the validity of its mailing address
      and notify Party B of any change of mailing address in writing, otherwise,
      when Party B sends the notice to Party A’s designated mailing address, the
      return date of the mail shall be deemed as the notice
  date.

            


    

     

    
      	
              VI.  

            	
              House
      Renovation: Party A agrees that Party B and its sub-tenants may remove the
      decoration of the leased property. Upon the termination of this Agreement,
      Party A may not restore the decoration of the property (including the
      partition wall), nor compensate Party A for any decoration or renovation.
      However, Party B shall not change the decoration status of the property at
      the termination of this Agreement.

            


    

     

    
      	
              VII.  

            	
              Party
      A shall have the right to either continue or terminate the Agreement if
      Party B fails to sublease the property by December 31,
    2005.

            


    

     

    
      	
              VIII.  

            	
              Property
      Management Fees: Party B shall pay the property management fees and
      charges for water and power.

            


    

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

    
      	
              IX.  

            	
              Deliver
      of Property: Party A shall deliver the property to Party B by December 20,
      2005.

            


    

     

    
      	
              X.  

            	
              Breach
      of Agreement: any party who breaches the Agreement shall pay the penalty
      to the non-breaching party that equals the amount of one year’s rent and
      shall compensate for any economic loss incurred by the non-breaching party
      (including the amount of all damages that Party B pays to the
      sub-tenants). Party B shall pay a late fee of 2/10,000 of the overdue rent
      per day if Party B fails to pay the rent
timely.

            


    

     

    
      	
              XI.  

            	
              Supplement
      Provisions: any unsettled matters under this Agreement may be supplemented
      by the parties with a supplement agreement, which shall have the same
      effect of this Agreement.

            


    

     

    
      	
              XII.  

            	
              This
      Agreement shall become effective upon execution of both parties and the
      entry of agreement between Party B and third
  parties.

            


    

     

    
      	
              XIII.  

            	
              This
      Agreement is executed into four duplicates with equivalent effect. Each
      party shall hold one duplicate.

            


    

     

    


     

    Party A:
Chongqing Foguang Tourism Development (Group) Co., Ltd. (Signature &
Stamp)

     

    Mailing
Address: Fuli Bowling House, ChangShou District, Chongqing

     

    


     

    Party B:
Chongqing Guobang Industrial Co., Ltd. (Signature & Stamp)

     

    Mailing
Address: 1 Huigong Road., Huigong Tower, 7th
Floor, Nan’an District, Chongqing

     

    


     

    December
10, 2005