**Renminbi      Capital Loan Contract**

**China      Construction Bank Corporation**

**Beijing      Branch**

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**Article      1**
**Amount      of Money Borrowed**

**Article      2**
**Purpose      of Money Borrowed**

**Article      3**
**Term      of Money Borrowed**

**Article      4**
**Interest      Rate, Penalty Interest Rate, Interest Calculation and      Settlement**

|   | (1) | fixed                rate of 5.475‰,                which rate shall remain unchanged during the term of the money                borrowed; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | floating                rate, that is, [intentionally                left blank] %                [intentionally                left blank]                (above/below) the base interest rate and adjusted every [intentionally                left blank]                months from the Interest Starting Date. The interest adjustment date                shall                be the date corresponding to the Interest Starting Date in the month                the                interest is adjusted. If there is no date corresponding to the Interest                Starting Date in that month, then the last day in that month shall                be the                interest adjustment date. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Penalty                Interest Rate |
|----|--------------------------------------|

|   | (1) | The                penalty interest rate shall be a monthly                interest rate. |
|--------|-----|-------------------------------------------------------------------------------------------|

----

|   | (2) | If                Party A fails to use the loan for the purpose specified herein, the                penalty interest rate shall be at (i)                below: |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | fixed                rate of 10.95‰; |
|--------|-----|--------------------------------------------|

|   | (ii) | floating                rate, that is, [intentionally                left blank]%                above the base interest rate and adjusted every [intentionally                left blank]                months from the Interest Starting Date. The penalty interest adjustment                date shall be the date corresponding to the Interest Starting Date                in the                month the penalty interest is adjusted. If there is no date corresponding                to the Interest Starting Date in that month, then the last day in                that                month shall be the interest adjustment                date. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | The                penalty interest for overdue loan hereunder shall be at the rate                of (i)                below: |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | fixed                rate of 8.2125‰; |
|--------|-----|---------------------------------------------|

|   | (ii) | floating                rate, that is, [intentionally                left blank]%                above the base interest rate and adjusted every [intentionally                left blank]                months from the Interest Starting Date. The penalty interest adjustment                date shall be the date corresponding to the Interest Starting Date                in the                month the penalty interest is adjusted. If there is no date corresponding                to the Interest Starting Date in that month, then the last day in                that                month shall be the interest adjustment                date. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | The                Interest Starting Date referred to in this Article means the date                when the                first advance made hereunder is transferred and deposited into Party                A’s                account. |
|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | The                interest of the loan shall be accrued from the date when the loan                is                deposited into Party A’s account. The interest of the loan hereunder shall                be accrued on a daily basis. The daily interest rate = monthly interest                rate/30 = annual interest rate/360. A compound interest shall be                accrued                from the following date if Party A fails to pay accrued interest                when                due. |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | Settlement                of Interest |
|----|---------------------------------------|

|   | (1) | If                a fixed interest rate is applied to the loan, the interest shall                be                calculated and settled at the agreed interest rate. If a floating                interest                rate is applied to the loan, the interest shall be calculated at                such                interest rate as then determined at each floating period; if the                interest                rate changes several times within one interest settlement period,                the                interest accrued at each floating period shall be first calculated                and                then added up on the interest settlement date as the interest accrued                within such interest settlement                period. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (2) | The                interest shall be settled on a monthly                basis for the loan hereunder and the interest settlement date shall                be the                20th of every month. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Article      5**
**Advance      and Use of Money Borrowed**

| 1. | Conditions                Precedent to the Advance of the Money                Borrowed |
|----|-----------------------------------------------------------------------------------------|

|   | (1) | Party                B is only obligated to advance the money borrowed upon the satisfaction                of                the following conditions unless the same are wholly or partly waived                by                Party B: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | i. | Party                A having completed the approval, registration, delivery and other                legal                procedures in respect of the loan hereunder according to relevant                laws and                regulations; |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ii. | If                a security is created for this Contract, a security contract or other                form                of security that satisfies Party B’s requirement having become                effective; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | iii. | Party                A having committed no event of default set forth in this                Contract; |
|--------|------|--------------------------------------------------------------------------------------------------------|

|   | iv. | Other                conditions precedent to the advance of the loan as agreed by the                two                Parties: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Party                B shall begin to advance the loan within five                bank business days after Party A has satisfied the foregoing                conditions. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Schedule                of Use of the Loan |
|----|--------------------------------------------|

|   | (1)                  July 6, 2007                           |   | amount                  Nine Million Yuan;                                |
|--------|-------------------------------------------------------------|--------|---------------------------------------------------------------------------|
|   |                                                        |   |                                                                      |
|   | (2)                  [intentionally left blank]_____ (date) |   | amount                  [intentionally left blank]_____;                  |
|   |                                                        |   |                                                                      |
|   | (3)                  [intentionally left blank]___ (date)   |   | amount                  [intentionally left blank]_____;                  |
|   |                                                        |   |                                                                      |
|   | (4)                  [intentionally left blank]___ (date)   |   | amount                  [intentionally left blank]_____;                  |
|   |                                                        |   |                                                                      |
|   | (5)                  [intentionally left blank]___ (date)   |   | amount                  [intentionally left blank]_____;                  |
|   |                                                        |   |                                                                      |
|   | (6)                  [intentionally left blank]___ (date)   |   | amount                  [intentionally left                  blank]_____. |

**Article      6**
**Repayment**

| 1. | Repayment                Principles |
|----|-------------------------------------|

|   | (1) | the                principle of principal repaid first and interest paid then shall                be                applied to the following loans: its principal amount is overdue for                over                90 days; its interest is overdue for over 90 days; Party A has ceased                its                production and operation or project the loan involves although the                loan is                not matured or is overdue for less then 90 days; loans otherwise                provided                for by laws or regulations; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (2) | the                principles of interest paid first and principal repaid then and the                interest paid together with the principal shall be applied to loans                other                than those described in the above paragraph                (1). |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Payment                of Interest |
|----|------------------------------------|

| 3. | Schedule                of Repayment of Principal |
|----|---------------------------------------------------|

|   | (1)                  June 30, 2008                                                           |   | amount                  Nine                  Million Yuan;               |
|--------|----------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------|
|   |                                                                                         |   |                                                                      |
|   | (2)                  [intentionally                  left blank]____                  (date) |   | amount                  [intentionally                  left blank]_____; |
|   |                                                                                         |   |                                                                      |
|   | (3)                  [intentionally                  left blank]___                  (date)  |   | amount                  [intentionally                  left blank]_____; |
|   |                                                                                         |   |                                                                      |
|   | (4)                  [intentionally                  left blank]___                  (date)  |   | amount                  [intentionally                  left blank]_____; |
|   |                                                                                         |   |                                                                      |
|   | (5)                  [intentionally                  left blank]___                  (date)  |   | amount                  [intentionally                  left blank]_____; |
|   |                                                                                         |   |                                                                      |
|   | (6)                  [intentionally                  left blank]___                  (date)  |   | amount                  [intentionally                  left blank]_____. |

| 4. | Method                of Repayment |
|----|------------------------------------|

|   | Prior                to the repayment date provided in this Contract, Party A shall deposit                into an account opened by Party B enough funds for any amount then                due and                such funds will be automatically transferred and paid to Party B,                or, on                the repayment date provided in this Contract, Party A shall transfer                funds                from other account for the repayment of the loan. If Party A fails                to                repay the loan in a timely manner, Party B shall have the right to                transfer and receive any funds from the account opened by Party A                at China                Construction Bank’s system. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | Prepayment |
|----|------------|

|   | (1) | Party                A is only required to give Party B a prior notice for its prepayment                of                the interest. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Party                A shall submit to Party B a written application 30                bank business days in advance for its prepayment of the principal                and may                prepay part or whole of the principal upon Party B’s                consent. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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**Article      7**
**Security      of Money Borrowed**

| 1. | Guarantee. |
|----|------------|

| 2. | Mortgage. |
|----|-----------|

| 3. | Pledge. |
|----|---------|

| 4. | Standby                Letter of Credit. |
|----|------------------------------------------|

| 5. | Credit                Insurance. |
|----|----------------------------------|

| 6. | Others:                [intentionally                left blank]___. |
|----|----------------------------------------------------------------------|

**Article      8**
**Party      A’s Right and Obligations**

| 1. | Party                A shall have the right to: |
|----|-------------------------------------------------|

|   | (1) | require                Party B to advance the loan according to this                Contract. |
|--------|-----|-----------------------------------------------------------------------------------------------|

|   | (2) | use                the loan for the purpose provided in this                Contract. |
|--------|-----|---------------------------------------------------------------------------------------|

|   | (3) | apply                to Party B for an extension of the loan if Party A satisfies the                conditions required by Party B. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | require                Party B to keep confidential relevant accounting information and                production and operation related trade secrets provided by Party                A, unless                otherwise provided for by laws, regulations and                rules. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Party                A shall be obligated: |
|----|--------------------------------------------|

|   | (1) | to                provide relevant financial and accounting materials, information                on                production and operation conditions as requested by Party B and be                responsible for the truthfulness, completeness and validity of the                materials so provided, including without limited to, provide Party                B                within the first 15                bank business days of the first month of every quarter with the balance                sheet and loss and profit statement (income and expenditure statement                for                government sponsored institute) at the end of last quarter and provide                at                the end of every year cash flow statement of the current                year; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | (2) | to                use the loan for the purpose provided in this Contract without                misappropriating or embezzling the money                borrowed; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | to                actively cooperate with and voluntarily accept Party B’s inspection of and                supervision over its production and operation and financial activities                as                well as the use of the money borrowed                hereunder. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | to                repay the principal and interest of the loan in a timely manner according                to this Contract. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------|

|   | (5) | Party                A and its investors shall not spirit its money away or transfer its                assets                to escape debts owing to Party B; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (6) | not                to use the assets generating from the loan hereunder to provide security                for a third party without Party B’s consent before its full repayment of                the interest and principal owing to Party                B; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (7) | to                give Party B a prior written notice and obtain Party B’s consent if Party                A intends to provide security for the debts of others during the                valid                term of this Contract, which may affect its ability to repay the                loan                hereunder; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (8) | to                promptly provide other security as acceptable to Party B if the guarantor                hereunder is winding-up, closed, deregistered, revoked its business                license, bankrupt, revoked, suffering from losses, partly or wholly                deprived of corresponding ability to secure the loan hereunder, or                the                collateral or property pledged to secure the loan hereunder decreases                in                value or accidentally is damaged or                lost; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (9) | to                promptly notify Party B of any change in its name, legal representative                (person in charge), domicile, business scope or registered capital                during                the valid term of this Contract. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (10) | to                give Party B a 30                days prior written notice, obtain Party B’s consent and arrange for the                satisfaction of and security for the debts hereunder as requested                by Party                B if Party A commits any of the following during the valid term of                this                Contract: contracting, lease, reform with the stock system, association,                merger, acquisition, division, joint venture, application for suspending                business for internal rectification, application for dissolution                or                bankruptcy, which will definitely affect Party B’s realization of its                rights as a creditor of the loan; |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (11) | to                promptly notify Party B in writing and arrange for the satisfaction                of and                security for the debts hereunder as requested by Party B if Party                A is                winding-up, closed, deregistered, revoked its business license, or                its                legal representative or person in charge is engaged in illegal activities                or involved in serious litigation, or it experiences severe difficulties                in its production and operation or its financial conditions deteriorate                significantly during the valid term of this Contract, which materially                and                adversely affects its performance of obligations to repay the loan                hereunder; |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | (12) | to                bear all expenses with respect to this Contract and the security                hereunder, such as legal fees, insurance, assessment, registration,                custody, appraisal and notarization expenses. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Article      9**
**Party      B’s Rights and Obligations**

| 1. | Party                B shall have the right to: |
|----|-------------------------------------------------|

|   | (1) | learn                the production, operation and financial activities of Party A and                require                Party A to provide relevant documents, such as plan statistics, financial                and accounting statements; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | deduct                and transfer from the account opened by Party A at China Construction                Bank’s system any amount in any currency owing to Party B and payable                by                Party A under this Contract. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Party                B shall be obligated to: |
|----|-----------------------------------------------|

|   | (1) | advance                the loan fully and in a timely manner as provided for in this Contract,                except for any delay due to the reasons attributable to Party                A; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | keep                confidential financial materials and production and operation related                trade secrets provided by Party A, unless otherwise provided for                by laws,                regulations and rules. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Article      10**
**Liability      for Breach of Contract**

| 1. | Event                of Default |
|----|---------------------------------|

|   | (1) | Party                A’s Event of Default |
|--------|-----|-------------------------------------------------|

|   | i. | it                fails to provide true, complete and valid financial and accounting                materials, production and operation conditions and other relevant                materials as requested by Party B; |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | ii. | it                fails to use the loan for the purpose agreed by the two                Parties; |
|--------|-----|---------------------------------------------------------------------------------------------------|

|   | iii. | it                fails to repay the principal and interest in a timely                manner; |
|--------|------|------------------------------------------------------------------------------------------------|

|   | iv. | it                refuses or prevents Party B from supervising and inspecting the use                of the                loan; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------|

|   | v. | it                transfers its assets or spirits its money away to escape                debts. |
|--------|----|--------------------------------------------------------------------------------------------------|

|   | vi. | its                operation and financial conditions deteriorate, it is unable to repay                debts when due, or is involved or will be involved in material litigation,                arbitration proceeding, or other legal dispute, which, in the opinion                of                Party B, may affect or has affected or impaired Party B’s rights and                interests hereunder; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | vii. | it                incurs any other indebtedness which has affected or may affect its                performance of the obligations hereunder to Party                B; |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | viii. | it                fails to discharge other debts owing to China Construction                Bank; |
|--------|-------|---------------------------------------------------------------------------------------------------|

|   | ix. | it                commits any of the followings during the valid term of this Contract:                contracting, lease, merger, acquisition, joint venture, division,                association, reform with the stock system and other acts that change                its                operation manner or operation system, which, in the opinion of Party                B,                may affect or has affected or impaired Party B’s rights and interests                hereunder; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | x. | other                circumstances under which the realization of creditor’s rights will, in                the opinion of Party B, definitely be                affected; |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | xi. | it                is in breach of other obligations provided in this                Contract. |
|--------|-----|-----------------------------------------------------------------------------------------------|

|   | (2) | Party                A shall be deemed to be in default if the guarantor falls into any                of the                following circumstances and Party A fails to provide new security                as                required by Party B: |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | i. | contracting,                lease, merger and acquisition, joint venture, division, association,                reform with the stock system, bankruptcy or revocation, which will                definitely affect the guarantor’s joint and several liabilities                hereunder; |
|--|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | ii. | the                guarantor provides a third party with guarantee beyond its                capability; |
|--|-----|----------------------------------------------------------------------------------------------------------|

|  | iii. | the                guarantor is deprived or may be deprived of its ability to guarantee                the                loan; |
|--|------|---------------------------------------------------------------------------------------------------------------------------------|

|  | iv. | other                events of default of the guarantor provided for in the guarantee                contract. |
|--|-----|----------------------------------------------------------------------------------------------------------------|

|   | (3) | Party                A shall be deemed to be in default if the mortgagor falls into any                of the                following circumstances and Party A fails to provide new security                as                required by Party B: |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | i. | the                mortgagor fails to purchase and maintain a property insurance for                the                collateral as required by Party B or fails to take care of the insurance                indemnity according to the mortgage contract after insurance accident                occurs; |
|--|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | ii. | the                mortgagor fails to take care of the damages according to the mortgage                contract when the collateral is damaged, lost or decreased in value                as a                result of a third party’s action; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | iii. | the                mortgagor donates, transfers, leases, mortgages repeatedly, removes                or                otherwise disposes of the collateral without Party B’s written                consent; |
|--|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|  | iv. | the                mortgagor fails to take care of the proceeds from the disposal of                the                collateral according to the mortgage contract after the mortgagor                disposes                of the collateral upon Party B’s                consent; |
|--|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | v. | the                mortgagor fails to timely restore the value of the collateral or                fails to                provide other security as acceptable to Party B if the collateral                is                damaged, lost or decreased in value which will definitely affect                the                discharge of the debt hereunder; |
|--|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | vi. | other                events of default of the mortgagor provided for in the mortgagor                contract. |
|--|-----|----------------------------------------------------------------------------------------------------------------|

|   | (4) | Party                A shall be deemed to be in default if the pledgor falls into any                of the                following circumstances and Party A fails to provide new security                as                required by Party B: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | i. | the                pledgor fails to purchase and maintain a property insurance for the                collateral as required by Party B or fails to take care of the insurance                indemnity according to the pledge contract after insurance accident                occurs; |
|--|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | ii. | the                pledgor fails to take care of the damages according to the pledge                contract                when the collateral is damaged, lost or decreased in value as a result                of                a third party’s action; |
|--|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | iii. | the                pledgor fails to take care of the proceeds from the disposal of the                collateral according to the pledge contract after the pledgor disposes                of                the collateral upon Party B’s                consent; |
|--|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | iv. | the                pledgor fails to timely restore the value of the collateral or fails                to                provide other security as acceptable to Party B if the collateral                is                damaged, lost or decreased in value which will definitely affect                the                discharge of the principal and interest                hereunder; |
|--|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | v. | other                events of default of the pledgor provided for in the pledge contract. |
|--|----|--------------------------------------------------------------------------------------------|

|   | (5) | Party                A shall be deemed to be in default if the security contract or other                form                of security does not take effect or is invalid or revoked, the guarantor                falls into other circumstance under which it is partly or wholly                deprived                of its ability to secure the loan, or the guarantor refuses to perform                its                guarantee obligations and Party A fails to provide new security                therefor. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (1) | to                stop the advance of the loan, declare the immediate maturity of the                loan                and require Party A to repay all principal, interest and expenses                hereunder whether or not due and                payable. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (2) | to                collect liquidated damages from Party A on the principal amount of                the                loan hereunder at [intentionally                left blank] ‰. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | to                impose interest and compound interest on the part of the loan                misappropriated by Party A at the penalty interest rate from the                date the                loan is not used for the purpose provided herein to the date the                principal                and interest are repaid in full and pursuant to the method of settlement                of interest provided herein if Party A fails to use the loan for                the                purpose provided herein. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | to                impose compound interest on any overdue interest payable by Party                A at the                interest rate and according to the method of settlement of interest                set                forth in Article 4 hereof before the maturity of the                loan. |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | (5) | if                the loan is overdue, to impose interest and compound interest on                the                outstanding principal and interest payable by Party A (including                the                principal and interest declared by Party B to be wholly or partly                due and                payable) at the penalty interest rate from the date the loan is overdue                to                the date the principal and interest are repaid in full and according                to                the method of settlement of interest provided herein. The overdue                loan                refers to Party A’s failure to repay the loan in a timely manner or its                repayment of the loan behind the repayment schedule set forth in                this                Contract.   |
|--|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (6) | to                transfer and receive any amount in any currency from the account                opened by                Party A at China Construction Bank’s                system. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (7) | to                require Party A to provide such new security as required by Party                B for                all debts hereunder. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------|

|   | (8) | to                exercise rights under the security. |
|--------|-----|-------------------------------------------------------|

|   | (9) | to                terminate this Contract. |
|--------|-----|--------------------------------------------|

**Article      11**
**Other      Matters Agreed**

| 1.     | [intentionally                  left blank] | ;      |
|--------|---------------------------------------------|--------|
|   |                                        |   |
| 2.     | [intentionally                  left blank] | ;      |
|   |                                        |   |
| 3.     | [intentionally                  left blank] | ;      |
|   |                                        |   |
| 4.     | [intentionally                  left blank] | .      |

**Article      12**
**Settlement      of Dispute**

----

| (2) | to                submit the dispute to [intentionally                left blank]                Arbitration Commission (the place of arbitration is [intentionally                left blank])                for arbitration according to its arbitration rules then effective                at the                time of submission. The arbitration award shall be final and binding                on                the two Parties. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

**Article      13**
**Effectiveness      of this Contract**

**Article      14**

**Article      15**

| 1. | Party                A is fully aware of Party B’s business scope and scope of                authority. |
|----|----------------------------------------------------------------------------------------------------------------|

| 2. | Party                A has perused each clause in this Contract. As requested by Party                A, Party                B has explained correspondingly clauses in this Contract. Party A                is fully                aware of and understands the meaning and corresponding legal consequences                of each clause in this Contract. |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Party                A has the right to sign this Contract. |
|----|-------------------------------------------------------------|

***/s/      CORPORATE SEAL***

***/s/      CORPORATE SEAL***

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