Unassociated Document


     

    Exhibit
10.32

    


    Assignment
State Land Use Right Contract


    


    
      
        
          
            
              
                	
                        Date:

                      	 	
                        June
      30, 2007

                      
	 
      	 	 
      
	
                        Assignor:

                      	 	
                        Jinjiang
      City Bureau of State Land and Recourse

                      
	 
      	 	 
      
	
                        Land
      Use Right Holder:

                      	 	
                        Guanwei

                      
	 
      	 	 
      
	
                        Term:

                      	 	
                        June
      29, 2007 to June 28, 2057

                      
	 
      	 	 
      
	
                        Official
      reference number:

                      	 	
                        Jin
      Di He [2007] Xie Zi No. 532

                      
	 
      	 	 
      
	
                        Location:

                      	 	
                        Houlin Community, Luoshan Street, Jinjiang City, Fujian
      Province

                      
	 
      	 	 
      
	
                        Size:

                      	 	
                        70,780
      square meter

                      
	 
      	 	 
      
	
                        Consideration:

                      	 	
                        RMB13,685,313
      yuan in total,
      excluding city construction cost and title deed tax

                      
	 
      	 	 
      
	
                        Use
      of land:

                      	 	
                        Industrial

                      
	 
      	 	 
      
	
                        Covenants
      of Assignor:

                      	 	
                        Assignor
      shall not terminate the land use right during the term of the Contract,
      unless (i) there is a compelling public interests; and (ii) through due
      process.  Upon termination, Assignor shall indemnify Guanke a
      fair value for the remaining term of the agreement and the constructions
      and facilities on the property.

                      
	 	 	 
	 	 	
                        If
      Guanwei applies to renew the land use right one year before the expiration
      date of the agreement, Assignor shall consent unless
      for  reasons of compelling public interests.

                      
	 
      	 	 
      
	
                        Covenants
      of Land Use Right Holder:

                      	 	
                        The
      Use of the land other than for industrial purpose  shall be
      subject to consent of Assignor.  Guanwei has the right to
      assign, lease and mortgage the property entirely or partially to a third
      party upon receiving a Land Use Right Certificate and satisfaction of the
      following conditions: (i) Guanwei has developed at least 25% of the
      property; and (ii) the land has been developed as suitable for industrial
      use. 

                      
	 	 	 
	 	 	
                        Assignor
      is entitled to terminate the land use right without any indemnification to
      Guanwei if there is no construction on the property within two year from
      December 31,
2008.

                      


              

            

          

        

      

    


    
      
         


      

      
         


        
          

        

      

      
         


      

    

    


    
      
        	
                Dispute
      resolution:

              	 	
                Disputes
      should be submitted to competent People’s Court.

              
	 
      	 	 
      
	
                Governing
      law:

              	 	
                Laws
      of the People’s Republic of
China.