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| x | ANNUAL REPORT PURSUANT TO      SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934. |
|---|-------------------------------------------------------------------------------------------------|

|  ̈ | TRANSITION REPORT PURSUANT TO      SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF      1934 |
|--------|----------------------------------------------------------------------------------------------------|

| Delaware(State      or other jurisdiction ofincorporation      or organization) | 20-1579407(I.R.S.      EmployerIdentification      No.) |
|---------------------------------------------------------------------------------|---------------------------------------------------------|

| 5/F.,      Block 1, Shi Hua Industrial ZoneCui      Zhu Road NorthShenzhen,      518019People’s      Republic of China |   | N/A             |
|------------------------------------------------------------------------------------------------------------------------------|--------|-----------------|
| (Address      of principal executive offices)                                                                                |   | (Zip      Code) |

| Title of Each Class                 | Name of Each Exchange on Which Registered |
|----------------------------------------------------|-------------------------------------------------------------------------|
| Common Stock, $0.001 par value | NASDAQ Global Market                                          |

| Large accelerated filer  ̈                    | Accelerated      filer x              |
|---------------------------------------------------|---------------------------------------|
| Non-accelerated filer  ̈                 | Smaller      reporting company  ̈ |
| (Do not check if a smaller      reportingcompany) |

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|  | 1.  | We did not      maintain effective control over the period-end closing      process.  Due to the insufficient number of qualified      resources, we were unable to timely and accurately complete our work      needed to close our books and prepare financial statements in accordance      with accounting principles generally accepted in the United States of      America. This control deficiency resulted in significant amounts of audit      adjustments to our 2008 financial statements.  In addition, this      control deficiency could result in a material misstatement to annual or      interim financial statements that would not be prevented or      detected.   Accordingly, management determined that this      control deficiency constitutes a material  weakness. |
|--|----------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | a. | the      number of adjustments proposed by our independent auditors during our      quarterly review and annual auditprocesses; |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------|

|   | b. | the      significance of the audit adjustments impact on the overall financial      statements; |
|--------|----|-------------------------------------------------------------------------------------------------|

|   | c. | how      appropriately we complied with the accounting principles generally      accepted in the U.S. (“GAAP”) ontransactions; |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------|

|   | d. | how      accurately we prepared supporting information to provide to our      independent auditors on a quarterly and annual basis;  and |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------|

|   | e. | whether      we prepared our information during the closing process significantly in      accordance with the timeline set forth in our financial reporting cycle in      order to meet our filing deadlines. |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | 2. | We did not      maintain effective control over the revenue cycle with revenue      recognition.  We did not properly perform and follow the      control procedures set forth in the revenue cycle.  This control      deficiency resulted in significant amounts of sales not being      recorded in the proper periods.  Accordingly, management      determined that this control deficiency constitutes a material      weakness. |
|--|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | 1. | We      have increased efforts to enforce internal control      procedures.  We have started restructuring our China financial      department and clarifying the responsibilities of key personnel in order      to increase communications and accountability.  Under the new      procedures, non-routine transactions are identified and presented to      senior financial management when discovered to ensure proper accounting      treatment.  We will seek opportunities to provide additional      technical resources in order to improve the quality of the reviews of      underlying financial information related to certain significant      transactions.  We will continue to review and assess the      effectiveness of the restructuring and make modifications accordingly in      an effort to improve the effectiveness of our control      procedures. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | We      have hired and will continue to hire additional qualified financial      personnel for the accounting department to further strengthen our China      financial reporting function.  In 2009, we hired 4 additional      personnel in our accounting and finance  department. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | We      will continue to evaluate our existing staff and make modifications as      necessary, in addition to providing additional training on accounting      principles and internal control procedures for our existing      staff.    We have also required all personnel in our      China financial department to obtain additional accounting      certifications. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4. | We      continually review and improve our standardization of our monthly and      quarterly data collection, analysis, and reconciliation procedures. To      further improve the timeliness of data collection, we are selecting and      will install new point of sale systems and enterprise resource planning      systems for our wholesale and retail operations. We have also implemented      a variety of manual review procedures, such as an extensive review of      journal entry postings into the accounting system, a thorough review of      account reconciliation, and a detailed review by our U.S. reporting team      of the trial balance from our China entity, to ensure the completeness and      accuracy of the underlying financial  information. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 5. | We      have increased the level of communication and interaction among sales      department, production department, PRC accounting team and other external      advisors. In addition, our Chief Financial Officer and US GAAP team are      becoming increasingly involved with the financial accounting and reporting      process in China and are monitoring such processes.  For      example, we will relocate a portion of the US GAAP team from our Hong Kong      office to our Shenzhen offices to strengthen the local accounting and      reporting processes. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 6. | We      are in the process of expanding the internal control functions and honing      related policies and procedures. As referenced above, we hired a qualified      and experienced Internal Audit Manager, who commenced work in January      2009.  We also plan to allocate and transfer additional      resources to the internal audit department for the purpose of enhancing      the internal audit function. |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|  | ● | The Company did not maintain      effective control over the period-end closing process. Specifically, due      to the insufficient number of qualified resources, the Company was unable      to timely and accurately complete its work needed to close its books and      prepare financial statements in accordance with accounting principles      generally accepted in the United States of America. This control      deficiency resulted in significant amounts of audit adjustments to the      Company's 2008 financial statements.  In addition, this control      deficiency could result in a material misstatement to annual or interim      financial statements that would not be prevented or      detected.   Accordingly, management determined that this      control deficiency constitutes a material  weakness. |
|--|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  | ● | The Company did not maintain      effective control over the revenue cycle with revenue      recognition.  The Company did not properly perform and follow      the control procedures set forth in the revenue cycle.  This      control deficiency resulted in significant amounts of revenues not being      recorded in the properperiods. |
|--|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | FUQI      INTERNATIONAL, INC.                    |
|--------|--------------------------------------------------|
|   |                                             |   |
|   | By:                                    | /s/      Yu Kwai Chong |
|   | Name      Yu Kwai Chong                          |
|   | Title:      Chief Executive Officer andPresident |

| SIGNATURE                |   | TITLE                                                                                                                                       |   | DATE              |
|--------------------------|--------|---------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|
|                     |   |                                                                                                                                        |   |              |
| /s/      Yu Kwai Chong   |   | Chief Executive Officer and President (Principal Executive Officer)                                      |   | May      12, 2009 |
| Yu      Kwai Chong       |   |                                                                                                                                        |   |              |
|                     |   |                                                                                                                                        |   |              |
| /s/      Ching Wan Wong  |   | Chief Financial Officer and Director (Principal Financial Officer and Accounting Officer) |   | May      12, 2009 |
| Ching      Wan Wong      |   |                                                                                                                                        |   |              |
|                     |   |                                                                                                                                        |   |              |
| *                        |   | Chief Operating Officer and Director                                                                                    |   | May      12, 2009 |
| Lie      Xi Zhuang       |   |                                                                                                                                        |   |              |
|                     |   |                                                                                                                                        |   |              |
| *                        |   | Director                                                                                                                                    |   | May      12, 2009 |
| Lily      Lee Chen       |   |                                                                                                                                        |   |              |
|                     |   |                                                                                                                                        |   |              |
| *                        |   | Director                                                                                                                                    |   | May      12, 2009 |
| Eileen      B. Brody     |   |                                                                                                                                        |   |              |
|                     |   |                                                                                                                                        |   |              |
| *                        |   | Director                                                                                                                                    |   | May      12, 2009 |
| Victor      A. Hollander |   |                                                                                                                                        |   |              |
|                     |   |                                                                                                                                        |   |              |
|  *                  |   | Director                                                                                                                                    |   | May      12, 2009 |
| Jeff      Haiyong Liu    |   |                                                                                                                                        |   |              |

| *      By: | /s/ Yu Kwai Chong                      |   |
|------------|----------------------------------------|--------|
|       | Yu      Kwai Chong, as Attorney inFact |

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| Exhibit Number |   | Description of Exhibit                                                                                                                                                                                                                                                                                                                                                                                                                |
|---------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 2.1                 |   | Share      Exchange Agreement dated November 20, 2006 by and between Fuqi      International, Inc., a Delaware corporation (f/k/a VT Marketing Services,      Inc.) (the “Registrant”) and Fuqi International Holdings Ltd., a British      Virgin Islands company (incorporated by reference from Exhibit 2.1 to the      Registrant’s Form 10 filed with the Securities and Exchange Commission on      December 29, 2006). |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 3.1                 |   | Certificate      of Incorporation of the Registrant (incorporated by reference from Exhibit      3.1 to the Registrant’s Form 10 filed with the Securities and Exchange      Commission on December 29, 2006).                                                                                                                                                                                                                            |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 3.1(a)              |   | Amendment      of the Certificate of Incorporation of the Registrant dated February 21,      2007 to increase authorized shares (incorporated by reference from Exhibit      3.1(a) to the Registrant’s Form S-1/A (file no. 333-144290) filed with the      Securities and Exchange Commission on August 28, 2007).                                                                                                                      |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 3.2                 |   | Bylaws      of the Registrant (incorporated by reference from Exhibit 3.2 to the      Registrant’s Form 10 filed with the Securities and Exchange Commission on      December 29, 2006).                                                                                                                                                                                                                                                  |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 4.1                 |   | Specimen      Common Stock Certificate (incorporated by reference from Exhibit 4.1 to      the Registrant’s Form S-1/A (file no. 333-144290) filed with the      Securities and Exchange Commission on July 2, 2007).                                                                                                                                                                                                                     |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.1                |   | Plan      Warrant Agreement (incorporated by reference from Exhibit 10.1 to the      Registrant’s Form 10 filed with the Securities and Exchange Commission on      December 29, 2006).                                                                                                                                                                                                                                                   |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.2                |   | 2006      Equity Incentive Plan (incorporated by reference from Exhibit 10.2 to the      Registrant’s Form 10 filed with the Securities and Exchange Commission on      December 29, 2006).                                                                                                                                                                                                                                               |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.3                |   | Real      Property Lease dated May 8, 2005 (incorporated by reference from Exhibit      10.3 to the Registrant’s Form 10 filed with the Securities and Exchange      Commission on December 29, 2006).                                                                                                                                                                                                                                    |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.4                |   | Employment      Agreement dated August 30, 2007 entered into by and between the Company      and Yu Kwai Chong (incorporated by reference from Exhibit 10.1 to the      Registrant’s Form 8-K filed with the Securities and Exchange Commission on      September 6, 2007).                                                                                                                                                               |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.5                |   | Employment      Agreement dated August 30, 2007 entered into by and between the Company      and Ching Wan Wong (incorporated by reference from Exhibit 10.2 to the      Registrant’s Form 8-K filed with the Securities and Exchange Commission on      September 6, 2007).                                                                                                                                                              |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.6                |   | Employment      Agreement dated August 30, 2007 entered into by and between the Company      and Lie Xi Zhuang (incorporated by reference from Exhibit 10.3 to the      Registrant’s Form 8-K filed with the Securities and Exchange Commission on      September 6, 2007).                                                                                                                                                               |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.7                |   | Employment      Agreement dated August 30, 2007 entered into by and between the Company      and Heung Sang Fong (incorporated by reference from Exhibit 10.4 to the      Registrant’s Form 8-K filed with the Securities and Exchange Commission on      September 6, 2007).                                                                                                                                                             |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.8                |   | Employment      Agreement dated August 30, 2007 entered into by and between the Company      and Xi Zhou Zhuo (incorporated by reference from Exhibit 10.5 to the      Registrant’s Form 8-K filed with the Securities and Exchange Commission on      September 6, 2007).                                                                                                                                                                |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                            |
| 10.9                |   | Registration      Rights Agreement dated September 18, 2007 entered into by and between the      Company and Bay Peak, LLC (incorporated by reference from Exhibit 10.9 to      the Registrant’s Form S-1/A (file no. 333-144290) filed with the      Securities and Exchange Commission on October 2,  2007).                                                                                                                            |

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| Exhibit Number |   | Description of Exhibit                                                                                                                                                                                                                                                                                                                                                                                                    |
|---------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.10               |   | Maximum      General Facility Agreement dated September 27, 2007 entered into by and      between the Company and Agriculture Bank of China (incorporated by      reference from Exhibit 10.10 to the Registrant’s Form S-1/A (file no.      333-144290) filed with the Securities and Exchange Commission on October      2, 2007).                                                                                          |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.11               |   | 2007      Equity Incentive Plan (incorporated by reference from Exhibit 99.1 to the      Registrant’s Form S-1/A (file no. 333-144290) filed with the Securities      and Exchange Commission on August 28, 2007).                                                                                                                                                                                                            |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.12               |   | Form      of Notice of Grant of Stock Option for the 2007 Equity Incentive Plan      (incorporated by reference from Exhibit 99.2 to the Registrant’s Form      S-1/A (file no. 333-144290) filed with the Securities and Exchange      Commission on August 28, 2007).                                                                                                                                                       |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.13               |   | Form      of Stock Option Agreement (including Addendum) for the 2007 Equity      Incentive Plan (incorporated by reference from Exhibit 99.3 to the      Registrant’s Form S-1/A (file no. 333-144290) filed with the Securities      and Exchange Commission on August 28, 2007).                                                                                                                                           |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.14               |   | Form      of Stock Issuance Agreement (including Addendum) for the 2007 Equity      Incentive Plan (incorporated by reference from Exhibit 99.4 to the      Registrant’s Form S-1/A (file no. 333-144290) filed with the Securities      and Exchange Commission on August 28, 2007).                                                                                                                                         |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.15               |   | Form      of Stock Purchase Agreement (including Addendum) for the 2007 Equity      Incentive Plan (incorporated by reference from Exhibit 99.5 to the      Registrant’s Form S-1/A (file no. 333-144290) filed with the Securities      and Exchange Commission on August 28, 2007).                                                                                                                                         |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.16               |   | Lease      agreement dated October 10, 2007 for office space in San Jose, California      (incorporated by reference from Exhibit 10.16 to the Registrant’s Form      10-K filed with the Securities and Exchange Commission on March 28,      2008).                                                                                                                                                                         |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.17               |   | Lease      agreement dated February 20, 2008 for office space in Hong Kong      (incorporated by reference from Exhibit 10.17 to the Registrant’s Form      10-K filed with the Securities and Exchange Commission on March 28,      2008).                                                                                                                                                                                   |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.18(a)            |   | Asset      Purchase Agreement dated April 18, 2008 entered into between the Fuqi      International Holdings Co., LTD., Beijing Yinzhong Tianmei Jewelry Co.,      LTD., Shanghai Tianmei Jewelry Co., LTD., and Chujian Huang (incorporated      by reference from Exhibit 10.1 to the Registrant’s Current Report on Form      8-K filed with the Securities and Exchange Commission on April 21,      2008).               |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.18(b)            |   | Amendment      to Asset Purchase Agreement dated August 7, 2008 entered into between the      Fuqi International Holdings Co., LTD., Beijing Yinzhong Tianmei Jewelry      Co., LTD., Shanghai Tianmei Jewelry Co., LTD., and Chujian Huang      (incorporated by reference from Exhibit 10.1 to the Registrant’s Current      Report on Form 8-K filed with the Securities and Exchange Commission on      August 12, 2008). |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.19               |   | Intellectual      Property Transfer Agreement dated April 18, 2008 entered into between the      Registrant, the Fuqi International Holdings Co., LTD., and Chujian Huang      (incorporated by reference from Exhibit 10.2 to the Registrant’s Current      Report on Form 8-K filed with the Securities and Exchange Commission on      April 21, 2008).                                                                    |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 10.20               |   | Employment      Agreement dated August 7, 2008 by and between the Registrant and Chujian      Huang (incorporated by reference from Exhibit 10.2 to the Registrant’s      Current Report on Form 8-K filed with the Securities and Exchange      Commission on August 12, 2008).                                                                                                                                              |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 21.1                |   | List      of Subsidiaries of the Registrant (incorporated by reference from Exhibit      21.1 to the Registrant’s Form 10 filed with the Securities and Exchange      Commission on December 29, 2006).                                                                                                                                                                                                                       |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 23.1                |   | Consent      of Stonefield Josephson, Inc.                                                                                                                                                                                                                                                                                                                                                                                          |
|                |   |                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 31.1                |   | Certification      of Chief Executive Officer pursuant to Item 601(b)(31) of Regulation S-K,      as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of      2002.                                                                                                                                                                                                                                                        |

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| 31.2   |   | Certification      of Chief Financial Officer pursuant to Item 601(b)(31) of Regulation S-K,      as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of      2002.                 |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |                                                                                                                                                                                         |
| 32.1*  |   | Certifications      of Chief Executive Officer and Chief Financial Officer pursuant to 18      U.S.C. Section 1350 as adopted pursuant to Section 906 of the      Sarbanes-Oxley Act of2002. |

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