Dragon Acquisition Corporation - Exhibit 10.29 - Filed by newsfilecorp.com






Exhibit 10.29 

(English Translation) 

EMPLOYMENT AGREEMENT 

The first Party (Employer) 
The name of the company:
Oumei Real Estate Development Co., Ltd. 
Address: Floor 12A, Shandong
Motorway Building, Laoshan District, Qingdao 
Legal representative: Weiqing
Zhang 


The second Party (Employee) 
Name: Yang
Chen                        
 Sex:
M                       
Date of Birth: July 24, 1971 
Level of Education:
MBA           
Contacts:        13808972159 
Place of
Domicile: Mudanjiang City, Heilongjiang Province 
Current
address:    Qingdao, Shandong 
I.D.
Number:          
231004197107240911 
Other available
certificate:           Certificate
number: 
Security Number: 

According to “Law of the PRC on Employment Contracts” and other
relational laws, rules and other regulations, on the basis of legality, equity
and honesty, the both parties signed the contract under the equality,
volunteering and unanimity through consultation, and obey the rules which are
listed in the contract. 

First: Labor Contract Terms 

The both parties agreed the labor contract terms on the way of:
A 

A1The labor contract with valid date starts from July 1,
2007 until July 1, 2012 and the internship time starts from July
1, 2007 until October 1, 2007. 

B. The labor contract without valid date starts from 
______________ until  ______________ and the internship time starts from
______________ until ______________. 

C. The valid date of labor contract is based on the date that
the main job _____________________________ is finished. 

Second: Job Content and Work Place 

I. According to the first party’s request and through
consultation, the second party works as . The first party could change the
second party’s position according to demand or check results of the second
party’s performance under the basis of the laws or upon consultation with the
second party, made in the principles of reasonableness and honesty. 




II. The content and requirements of the job which the first
party arranged the second party to do must obey the work condition which is
provided by the nation or the rules which are required by the first party
according to laws. The second party should fulfill the work obligation according
to the job content and requirements which are arranged by the first party. 

III. The place where the both parties perform the contract
Qingdao City, Shandong Province 

Third: Work Time and Vocation 

I. The both parties agreed to perform A of the following
items. The work time of second party should never be more than 40 hours every
week, and it must be guaranteed by the first party that there is one day off at
least for the second party. 

A. The work time which is carried out by the first party is
8 hours everyday. The detail of the work time is arranged by the first
party as follows: there should be five days for working one week and
two days off. 

B. The work time which is carried out by the first party is in
  turn. The second party is arranged to work for times _________________a week
  in turn. And the work time is _______________hours once. 

II. The ________________position which is arranged by the first
  party to the second party should be approved to belong to irregular time job.
  Both parties should perform the rules of irregular time job by laws. 

III. The ________________position which is arranged by the first
  party to the second party should be approved to belong to integrated time job.
  Both parties should perform the rules of integrated time job by laws. 

IV. The first party should obey the legal work time strictly,
control the overtime work, and ensure the second party`s rest and physical and
mental health. If there is some essential overtime work which is arranged to the
second party, the first party should come to an agreement with the labor union
and the second party through consultation and impart some other holiday instead
or pay for the overtime work. 

V. The first party should be approved to arrange the paid
vocation every year for the second party. And the detailed dates of vocation
should be made by both parties through consultation. 

Fourth: Work Salary 

The first party pays for the second party once at least in
currency format and should not cut down or delay the salary of the second party
without reason. If the second party works as usual in the legal work time or in
the work time that is promised in the legal labor contract, the salary which the
first party pays the second party should not below the local standard. 

I. The first party promises to pay at the
10th day every month. 

II. The salary of the second party in the internship time is
RMB 6,400 every month. 

III. The both parties come to agreement through consultation to
perform A of the following items. 




A. The salary of the second party should be ensured as the
inside providing way of the salary which is established by the first party under
the laws and regulations. On the basis of the second party’s position, the
salary should be guaranteed as RMB 8,000 per month. 

B. The first party carried out the inside assign method of basic
  salary and effective salary combined. The basic salary of the second party is
  ______________________, and it is changed according to the inside assign method.
  The effective salary is changed according to the work achievement, labor production
  and actual contribution. 

C. The first party pays the second party on the basis of the
number of product. The labor quantity which the first party demands the second
party to finish ought to be how much more than 90% workers in the same position
are able to finish in legal working time. If the second party has finished the
quantity which is required by the first party in legal working time, according
to the achievement of the second party, on the basis of the quantity and price
which have been promised by the first party, the first party should pay the
salary enough to the second party on time. 

D. Other ways __________________________________________________________

IV. Considering the benefit of the company, the guidelines of
the salary which is published by local government, the guidance of the salary or
the regulations of the company salary contract, the first party ought to
increase the salary of the second party yearly in reason. 

V. The overtime work salary of the second party should not be
lower than the salary standard which is written in the third section of this
item. 

VI. The second party should get salary legally in the holiday
(e.g. : marriage holiday, funeral holiday, new year holiday and so on). 

VII. The first party should pay or store up the housing fund
under the relational regulations of nation or location. 

Fifth: Social Security 

I. The both parties should pay for the social security on time
legally and the part which should be paid by the second party should be taken
out from the salary of the second parties and handed in by the first party. 

II. The first party should pay for social securities legally,
and public the payment for the social securities to the workers and accept the
intendance of workers. 

III. If the second party gets hurt or occupational diseases,
the first party should take charge to cure or supply the possibility help in
time. And the first party should come up with the application of the work injury
to labor security administrative department, make a identification of the work
ability of the second party legally, and perform the essential obligations which
the second party should enjoy the rights of the work injury security. 

Sixth: Working Protection, Working Conditions and Job Injury
Protection 

I. If the position has the possibility to present the
occupational diseases, the first party has the right to tell the second party
and carry out the education of safety and health to the second party to avoid
the injuries and death and reduce damage. 




II. The first party must provide the second safe and healthy
working condition and essential protective equipment. If there is the
possibility to get in touch with the job diseases in the work of the second
party, the first party should take the physical check-up regularly for the
second party, and do it while the second party is about to leave the position.


III. If there is possibility to get job injury in the position
  of the second party, under the first party’s intendance, the second party
  should take the following protective actions: _______________________. The second
  party should obey the safety operation regulations strictly during working.
  The second party owns the right to refuse the deregulation direct or force to
  process dangerous work from the administrators of the first party. 

IV. The first party should provide the protection to the second
party under the national regulations of the special protection to the female and
underage workers. 

V. If the second party gets sicken or hurt which is independent
of the work, the first party should perform as the national regulations about
the medical period. 

Seventh: Both Parties Make an Agreement Through Consultation
About the Following Items: D and E 

A. As the position of the second party concerns about something
confidential of the first party’s business secret and intellectual property
rights, the first party may consult with the second party legally about keeping
the business secret and limit of competition in advance, and signs the agreement
as the accessories of this contract. 

B. If the first party pays for the training to the second party
and requires the second party perform service period, the first party should ask
for the second party`s attitude, and signs the agreement, public the rights and
obligations of both parties. And the agreement is the accessories of this
contract. 

C. The first party agrees to transact the supplementary
endowment insurance and supplementary hospitalization insurance for the second
party. The detailed content is 

______________________________________________________________________________

D. The first party should perform the relational regulations
about the welfare legally, and agrees to supply the following welfare to the
second party: Transportation, Communication, Seniority, Dinning; Bonus for
Major Public Holidays 

E. The other items that the both parties need to perform:
The second party shall comply with the terms set forth in the Company
Employee Handbook 

Eighth: Labor Disputes Solutions 

I. Where a labor dispute between the parties takes place during
the performance of the contract, the both parties may seek for a settlement
through consultation. If either party refuses or disagrees with the settlement
through consultation, the party may apply to the labor dispute mediation
committee for mediation. If the mediation fails, the party may apply to the
labor arbitration committee for arbitration. And both parties may also directly
apply to the labor dispute arbitration committee for arbitration. The party who
apply for arbitration may come up with the written application to the labor
dispute arbitration committee within legal time starting from the date of the
occurrence of a labor dispute. If one of the parties is not satisfied with the
adjudication of arbitration, the party may bring the case to a people's court
within 15 days of the date of receiving the ruling of arbitration. 




II. If the first party disobeys the laws and regulations of
labor security, the second party has the right to complain to the labor security
administrative department or other relational department. 

Ninth: Other Items 

I. The second party should inform the first party in time while
the native place, current address and contacts of the second party has changed.


II. The items that are not written in this contract should be
performed as the relational regulations of the state, provinces and cities. If
there are no regulations, the both parties make the settlement through
consultation. 

III. The contract should not be altered 

IV. If the contract is needed to be written in both English and
Chinese and they are different, the Chinese one shall prevail. 

V. This contract is executed in 2 original. Each of the party
shall hold 1 copy. 

VI. The accessories of this contract including: ____________________

The first party 
Signature of legal representative: 
/s/
Weiqing Zhang 


Date: July 23, 2007 

The second party 
Signature of the second party 
/s/ Yang
Chen 


Date: July 23, 2007