Exhibit 8.1

List of Subsidiaries



|1. | China Metro-Rural Limited, a Cayman Islands incorporated Company continued into BVI
|-- | -----------------------------------------------------------------------------------



|2. | China Metro-Rural Exchange Limited,


LOGO
, a HK Company
|-- | ---------------------------------------------------------



|3. | China Northeast Logistics City Co., Ltd. ,


LOGO
, a PRC Company
|-- | -----------------------------------------------------------------



|4. | Tieling Northeast City Advertising Co., Ltd.,


LOGO
, a PRC company
|-- | --------------------------------------------------------------------



|5. | Tieling North Asia Property Management Co., Ltd.,


LOGO
, a PRC company
|-- | ------------------------------------------------------------------------



|6. | Tieling North Asia Development Co., Ltd.,


LOGO
, a PRC company
|-- | ----------------------------------------------------------------



|7. | Tieling Motor Vehicle Trading Co., Ltd.,


LOGO
, a PRC company
|-- | ---------------------------------------------------------------



|8. | 4376zone.com Limited


LOGO
, a HK Company
|-- | ------------------------------------------



|9. | Arcadia Jewellery Limited


LOGO
, a HK Company
|-- | -----------------------------------------------



|10. | Asean Gold Limited


LOGO
, a BVI Company
|--- | -----------------------------------------



|11. | China Pearls and Jewellery City Holdings Limited


LOGO
, a HK Company
|--- | ----------------------------------------------------------------------



|12. | China Pearls and Jewellery International City Co. Ltd.


LOGO
, a PRC Company
|--- | -----------------------------------------------------------------------------



|13. | Cyber Bizport Limited


LOGO
, a HK Company
|--- | -------------------------------------------



|14. | Excel Access Limited


LOGO
, a HK Company
|--- | ------------------------------------------



|15. | Hong Kong Man Sang Investments Limited


LOGO
, a HK Company
|--- | ------------------------------------------------------------



|16. | Man Hing Industry Development (Shenzhen) Co., Ltd.


LOGO
, a PRC Company
|--- | -------------------------------------------------------------------------



|17. | M.S. Electronic Emporium Limited, a BVI Company
|--- | -----------------------------------------------



|18. | Man Sang China Investment Ltd., a BVI Company
|--- | ---------------------------------------------



|19. | Man Sang Development Company Limited


LOGO
, a HK Company
|--- | ----------------------------------------------------------



|20. | Man Sang Enterprise Ltd., a BVI Company
|--- | ---------------------------------------



|21. | Man Sang Innovations Limited


LOGO
, a HK Company
|--- | --------------------------------------------------



|22. | Man Sang Investment Development Limited


LOGO
, a HK Company
|--- | -------------------------------------------------------------



|23. | Man Sang International Limited


LOGO
, a Bermuda Company
|--- | ---------------------------------------------------------



|24. | Man Sang Jewellery Company Limited


LOGO
, a HK Company
|--- | --------------------------------------------------------



|25. | Market Leader Technology Limited, a BVI Company
|--- | -----------------------------------------------



|26. | M.S. Collections Limited


LOGO
, a HK Company
|--- | ----------------------------------------------



|27. | New Tongluowan Holdings Limited


LOGO
, a HK Company
|--- | -----------------------------------------------------



|28. | Peking Pearls Company Limited


LOGO
, a HK Company
|--- | ---------------------------------------------------



|29. | Swift Millions Limited


LOGO
, a HK Company
|--- | --------------------------------------------



|30. | Smartest Man Holdings Limited, a BVI Company
|--- | --------------------------------------------



|31. | Zhuji Five Continents Enterprise Ltd.


LOGO
, a PRC Company
|--- | ------------------------------------------------------------