China Valves Technology, Inc.: Exhibit 10.1 - Filed by newsfilecorp.com





Exhibit 10.1 

English Translation of Employment Agreement 

China Valves Technology, Inc. (hereinafter referred to as
“Party A” or “Company”), intends to employ Jianbao Wang (hereinafter referred to
as “Party B”) in accordance with the State’s relevant laws, regulations and
rules on labor issues. Based on the principles of equality, volunteer, and
consultation, both Parties enter into this Agreement to establish employment
relationship and specify both Parties’ rights and obligations for mutual
abidance. 

	1. 	
      Term



This Agreement starts on October 11, 2010. Unless one party
terminates the Agreement pursuant to the terms of this section, the term of the
Agreement is three years. If no party gives a thirty-day notice prior to the
termination of the Agreement, the Agreement will be automatically extended for
one more year. The Agreement is at will and either party may terminate the
Agreement with or without cause. In the event that either Party intends to
terminate this Agreement, it shall notify the other Party in writing or by email
thirty (30) days in advance. 

	2. 	
      Duties



(1) The position of Party B is CEO
(Chief Executive Officer). Party B’s working duties include: 

A. responsible for daily operation of the Company; 

	
    B. improve manufacturing, marketing, sales, technological
innovation and quality control of all of the subsidiaries; 

	
    C. set up
strategies to expand into the international market; 

	
    D. set up strategies for
acquisitions and build a better platform for the Company in the capital market;
and 

	
    E. improve the Company’s corporate governance and establish corporate
culture. 



(2) During the contract term, Party A
will possibly assign Party B for other positions.

	3. 	
      Working Time, Confidentiality and Non-competition
      Agreement



(1) During the contract term, Party B
shall be a full-time employee of Party A.

(2) Party B shall keep all the business
activities and trade secret of Party A confidential and shall not disclose to
any third parties without permission of Party A.

(3) Party B agrees, during the contract
term and within two (2) years after the expiration of the contract term, not to
engage in any business which will compete with the business activities of Party
A and not to join in any companies which compete with Party A. 

	4. 	
      Leaves



During the contract term, Party B shall enjoy the statutory
public holidays specified by laws. 

	5. 	
      Remuneration



Annual salary: RMB 1,000,000 base salary 
The base salary
may be raised based on Party B’s performance and upon approval of the board of
directors. 
Year-end Bonus: to be determined by Compensation Committee (or
the Board of Directors) 
Date for paying the remuneration: the first day of
every month 
Method of payment for the remuneration: payment in RMB. 


	6. 	
      Stock Options



To be determined by Compensation Committee (or the Board of
Directors). 





	7. 	
      Insurance and Welfares



(1) During the contract term, both
Party A and Party B shall contribute various social security funds, such as
insurance for pension, unemployment and work accidents. Meanwhile, Party A shall
periodically notify Party B of the contribution of the social insurance
funds.

(2) In the event that Party B suffers
any diseases or work-related injuries during the contract term, the salary for
Party B during its sick leaves, the disease relief fees and the fees for medical
treatment for Party B shall be implemented according to the standard which shall
not be lower than the State’s mandatory standard. 

(3) During the period which the Company
stops its operation and production due to the reasons not attributable to Party
B, the benefits for various leaves, social insurances and medical treatment
which Party B may enjoy according to the relevant regulations shall remain
unchanged.

(4) The other social welfares and
benefits which Party B may enjoy shall be implemented according to the rules and
regulations promulgated by Party A according to law.

	8. 	
      Labor Discipline, Punishments and
  Awards



Party B shall abide by various rules and regulations
promulgated by Party A according to law. Party A is entitled to examine,
supervise, review, punish and award Party B for Party B’s performance to those
rules and regulations. 

	9. 	
      Mediation and Arbitration



The disputes arising from the performance of this Agreement
shall be resolved first through consultation. In the event that the disputes can
not be resolved through consultation, the disputes can be resolved through
mediation by the Disputes Mediation Commission where Party A is located or
through arbitration by the Labor Disputes Arbitration Commission where Party A
is located within sixty (60) days after the disputes have arose. If not
satisfied with the arbitration awards, either Party may institute a lawsuit with
the people’s court where Party A is located within fifteen (15) days after
receiving the arbitration awards. 

	10. 	
      Amendment



Any amendment to this Agreement shall not take into effect
before the amendment is signed and recognized in writing by both Parties. 

	11. 	
      Governing Law



This Agreement shall be governed by the laws of the People’s
Republic of China. During the contract term, in case of any discrepancy between
the articles of this Agreement and the provisions of the law, the latter shall
prevail. 

Because Party A is an American public listing company, after
conclusion of this Agreement, Party A is obliged to file an 8-K report on hiring
Party B to SEC. Party B shall also be obliged to provide Party A any materials
required for filing 8-K report. Meanwhile, all the behaviors and activities of
Party B, as CEO of Party A, shall also be supervised and governed by SEC. 


	Party A or
      Representative (Signature or Seal) 	Party B(Signature or Seal) 
	Signature:/s/
      Siping Fang 	Signature: /s/ Jianbao Wang 
	Date: October 11,
      2010 	Date:
      October 11, 2010