Dragon Acquisition Corporation - Exhibit 10.11 - Filed by newsfilecorp.com






     Exhibit 10.11 

(English Translation) 

Share Purchase Agreement 

Party A: Li Jie 

  ID No.: 3702216507255055 

Party B: Li Keyu 

  ID No.: 37022119650104515 

Party C: Liu Fangyu 

  ID No.: 3702216507311051 

Party D: Wang Meiling 

  ID No.: 370221650828056 

Party E: Jiang Guo 

  ID No.: 370213198003185243 

Party F: Qingdao Longhai Investment Group 
Legal
Representative: Zhang Weiqing 

  Domicile: No. 73, Donghai eastern Road, Laoshan, Qingdao 

Party G: Qingdao Oumei Real Estate Development Co., Ltd

Legal Representative: Zhang Weiqing 

  Domicile: No. 1431, Aolan Road, Jimo, Qingdao 

Whereas: Qingdao Xudong Real Estate Development Co., Ltd. Is a
limited liability company (hereinafter “the company”) invested by Party A, Party
B, Party C, Party D, Party E and Party F. Its registered capital is 70.6 million
RMB. Party A’s contribution to the registered capital of the company is
5,580,000Yuan, representing a 7.9% of the shares. Party B’s contribution to the
registered capital of the company is 4,650,000Yuan, representing a 6.59% of the
shares. Party C’s contribution to the registered capital of the company is
930,000Yuan, representing a 1.32% of the shares. Party D’s contribution to the
registered capital of the company is 3,720,000Yuan, representing a 5.27% of the
shares. Party E’s contribution to the registered capital of the company is
3,720,000Yuan, representing a 5.27% of the shares. Party F’s contribution to the
registered capital of the company is 52,000,000Yuan, representing a 73.65% of
the shares. 

After friendly discussion, all parties agreed that Party A,
Party B, Party C, Party D, Party E and Party F will assign its own 100% of the
shares amount equivalent to 60,000,000 Yuan RMB in foreign exchange to Party D.
All Parties sign an agreement as follows: 

	1. 	
      Proportion and Price of the Purchased
  Shares

	 	 
		
      Party A will sell its own 7.9% of the shares of Qingdao
      Xudong Real Estate Development Co., Ltd equivalent to 4,740,000 Yuan RMB
      in foreign exchange to Party G.








		
      Party B will sell its own 6.59% of the shares of Qingdao
      Xudong Real Estate Development Co., Ltd equivalent to 3,954,000 Yuan RMB
      in foreign exchange to Party G.

	 	 
		
      Party C will sell its own 1.32% of the shares of Qingdao
      Xudong Real Estate Development Co., Ltd equivalent to792,000 Yuan RMB in
      foreign exchange to Party G.

	 	 
		
      Party D will sell its own 5.27% of the shares of Qingdao
      Xudong Real Estate Development Co., Ltd equivalent to 3,162,000 Yuan RMB
      in foreign exchange to Party G.

	 	 
		
      Party E will sell its own 5.27% of the shares of Qingdao
      Xudong Real Estate Development Co., Ltd equivalent to 3,162,000 Yuan RMB
      in foreign exchange to Party G.

	 	 
		
      Party F will sell its own 73.65% of the shares of Qingdao
      Xudong Real Estate Development Co., Ltd equivalent to 44,190,000 Yuan RMB
      in foreign exchange to Party G.

	 	 
	2. 	
      Payment Term

	 	 
		
      In 90 days from the date of this contract has signed,
      Party G shall pay Party A, Party B, Party C , Party D, Party E and Party F
      the full purchase price in a lump sum.

	 	 
	3. 	
      Right and Responsibilities of Two
Parties

	 	 
		
      Party G shall pay the total purchase price to Party A,
      Party B, Party C , Party D, Party E and Party F in a lump sum as
      stipulated in this agreement. Should Party G fail to pay off the amount,
      it will be liable for the responsibilities for breach of the
    contract.

	 	 
		
      After the full payment of the purchase price from Party
      G, Party A, Party B, Party C , Party D, Party E and Party F shall assist
      Party G in dealing with all the changing registration procedures in AIC,
      Tax and Foreign Exchange Bureau and other administrative
    departments.

	 	 
	4. 	
      Breach of contract

	 	 
		
      If Party G fails to pay the purchase price according to
      the term prescribed in the article 3 of this agreement, Party G should pay
      1/10000 of the purchase price as punishment every delay of one month to
      Party A, Party B, Party C , Party D, Party E and Party F. Party A, Party
      B, Party C , Party D, Party E and Party F are entitled to terminate the
      agreement and ask for the payment of damage except for the punishment when
      a delay of 6 months occurs.

	 	 
	5. 	
      Dispute Settlement

	 	 
		
      In the event of any dispute relating to this agreement,
      the parties shall attempt in the first instance to resolve such dispute
      through friendly discussion. If the event such dispute is not resolved
      through discussion, the dispute shall be submitted to Qingdao Arbitration
      Committee according to its rules of procedure. The arbitral award is final
      and binding to both parties.








	6. 	
      Effective Conditions of the agreement

	 	 
		
      After formal sign and seal by all parties, the agreement
      comes to effect as long as the approval authority approves. The agreement
      has six copies. Each party holds one, the other will be submitted for
      approval.



Party A: Li Jie 

  ID No.: 3702216507255055 

Party B: Li Keyu 

  ID No.: 37022119650104515 

Party C: Liu Fangyu 

  ID No.: 3702216507311051 

Party D: Wang Meiling 

  ID No.: 370221650828056 

Party E: Jiang Guo 

  ID No.: 370213198003185243 

Party F: Qingdao Longhai Investment Group 

  Legal Representative: Zhang Weiqing 

Party G: Qingdao Oumei Real Estate Development Co., Ltd


  Legal Representative: Zhang Weiqing 

24th, Jan, 2008