Exhibit 8.1

LIST OF SUBSIDIARIES



|1. | China Metro-Rural Limited, a Cayman Islands incorporated company continued in 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 Northeast City Motor Vehicle Trading Co., Ltd., (


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



|8. | Tieling Shengtai Hotel Co., Ltd. (


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



|9. | M.S. Electronic Emporium Limited, a BVI company
|-- | -----------------------------------------------



|10. | China Metro-Rural Development Ltd., (


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



|11. | China Northeast Logistics City Dezhou Co., Ltd., (


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



|12. | Dezhou Northeast City Property Co., Ltd., (


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



|13. | Dezhou North Asia Property Management Co., Ltd., (


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



|14. | Dezhou North Asia Property Co., Ltd., (


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



|15. | Shenzhen China Northeast Logistics City Co., Ltd., (


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



|16. | China Glorious City Development Limited, (


LOGO
), a Hong Kong company
|--- | ------------------------------------------------------------------------



|17. | China Glorious City (Hengyang) Co., Ltd., (


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



|18. | Hengyang Huayan Property Co., Ltd., (


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



|19. | Hengyang Huaqian Property Co., Ltd., (


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



|20. | Hengyang China Glorious City Business Co., Ltd., (


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



|21. | Hengyang China Glorious City Logistics Co., Ltd., (


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



|22. | China Glorious City Strategic Limited, (


LOGO
), a Hong Kong company
|--- | ----------------------------------------------------------------------



|23. | China Glorious City Strategic (Zhoukou) Co., Ltd., (


LOGO
(


LOGO
)


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



|24. | Zhoukou Huayu Industries Co., Ltd., (


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



|25. | Zhoukou Huahui Commercial Real Estates Co., Ltd., (


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



|26. | China Glorious City Investments Limited, (


LOGO
), a Hong Kong company
|--- | ------------------------------------------------------------------------



|27. | China Glorious City Investments (Zhoukou) Co., Ltd., (


LOGO
(


LOGO
)


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



|28. | Zhoukou China Glorious Property Co., Ltd., (


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



|29. | China Glorious City Construction Limited, (


LOGO
), a Hong Kong company
|--- | -------------------------------------------------------------------------



|30. | China Glorious City Holdings Limited, (


LOGO
), a Hong Kong company
|--- | ---------------------------------------------------------------------