Exhibit 10.7

                                 PROMISSORY NOTE

UP TO $500,000                                               AS OF JUNE 20, 2007
                                                              NEW YORK, NEW YORK


     China Pacific Acquisition Corp., a Delaware corporation (the "MAKER")
promises to pay to the order of the parties identified in Schedule A hereto
(collectively the "PAYEE") the aggregate principal sum equal to the amount set
forth in Schedule B hereto and initialed by an authorized signatory of the
Company in lawful money of the United States of America, on the terms and
conditions described below.

     1.   PRINCIPAL. The principal balance of this Note shall be repayable on
the earlier of (i) June 20, 2008 and (ii) the date on which Maker consummates
an initial public offering of its securities.

     2.   APPLICATION OF PAYMENTS. All payments shall be applied first to
payment in full of any costs incurred in the collection of any sum due under
this Note, including (without limitation) reasonable attorneys' fees, then to
the payment in full of any late charges and finally to the reduction of the
unpaid principal balance of this Note.

     3.   EVENTS OF DEFAULT. The following shall constitute Events of Default:

          (a)  FAILURE TO MAKE REQUIRED PAYMENTS. Failure by Maker to pay the
principal of this Note within five (5) business days following the date when
due.

          (b)  VOLUNTARY BANKRUPTCY, ETC. The commencement by Maker of a
voluntary case under the Federal Bankruptcy Code, as now constituted or
hereafter amended, or any other applicable federal or state bankruptcy,
insolvency, reorganization, rehabilitation or other similar law, or the consent
by it to the appointment of or taking possession by a receiver, liquidator,
assignee, trustee, custodian, sequestrator (or other similar official) of Maker
or for any substantial part of its property, or the making by it of any
assignment for the benefit of creditors, or the failure of Maker generally to
pay its debts as such debts become due, or the taking of corporate action by
Maker in furtherance of any of the foregoing.

          (c)  INVOLUNTARY, BANKRUPTCY, ETC. The entry of a decree or order for
relief by a court having jurisdiction in the premises in respect of maker in an
involuntary case under the Federal Bankruptcy Code, as now or hereafter
constituted, or any other applicable federal or state bankruptcy, insolvency or
other similar law, or appointing a receiver, liquidator, assignee, custodian,
trustee, sequestrator (or similar official) of Maker or for any substantial part
of its property, or ordering the winding-up or liquidation of its affairs, and
the continuance of any such decree or order unstayed and in effect for a period
of 60 consecutive days.

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     4.   REMEDIES.

          (a)  Upon the occurrence of an Event of Default specified in Section
3(a), Payee may, by written notice to Maker, declare this Note to be due and
payable, whereupon the principal amount of this Note, and all other amounts
payable thereunder, shall become immediately due and payable without
presentment, demand, protest or other notice of any kind, all of which are
hereby expressly waived, anything contained herein or in the documents
evidencing the same to the contrary notwithstanding.

          (b)  Upon the occurrence of an Event of Default specified in Sections
3(b) and 3(c), the unpaid principal balance of, and all other sums payable with
regard to, this Note shall automatically and immediately become due and payable,
in all cases without any action on the part of Payee.

     5.   WAIVERS. Maker and all endorsers and guarantors of, and sureties for,
this Note waive presentment for payment, demand, notice of dishonor, protest,
and notice of protest with regard to the Note, all errors, defects and
imperfections in any proceedings instituted by Payee under the terms of this
Note, and all benefits that might accrue to Maker by virtue of any present or
future laws exempting any property, real or personal, or any part of the
proceeds arising from any sale of any such property, from attachment, levy or
sale under execution, or providing for any stay of execution, exemption from
civil process, or extension of time for payment; and Maker agrees that any real
estate that may be levied upon pursuant to a judgment obtained by virtue hereof,
on any writ of execution issued hereon, may be sold upon any such writ in whole
or in part in any order desired by Payee.

     6.   UNCONDITIONAL LIABILITY. Maker hereby waives all notices in connection
with the delivery, acceptance, performance, default, or enforcement of the
payment of this Note, and agrees that its liability shall be unconditional,
without regard to the liability of any other party, and shall not be affected in
any manner by any indulgence, extension of time, renewal, waiver or modification
granted or consented to by Payee, and consents to any and all extensions of
time, renewals, waivers, or modifications that may be granted by Payee with
respect to the payment or other provisions of this Note, and agree that
additional makers, endorsers, guarantors, or sureties may become parties hereto
without notice to them or affecting their liability hereunder.

     7.   NOTICES. Any notice called for hereunder shall be deemed properly
given if (i) sent by certified mail, return receipt requested, (ii) personally
delivered, (iii) dispatched by any form of private or governmental express mail
or delivery service providing receipted delivery or (iv) sent by facsimile, to
the following addresses or to such other address as either party may designate
by notice in accordance with this Section:

     If to Maker:

          China Pacific Acquisition Corp.
          43/F Jardine House
          1 Connaught Place
          Hong Kong, China

     If to Payee, to the Payee's address indicated on Schedule A of this Note.
<PAGE>


Notice shall be deemed given on the earlier of (i) actual receipt by the
receiving party, (ii) the date shown on a facsimile transmission confirmation,
(iii) the date reflected on a signed delivery receipt, or (vi) two (2) business
days following tender of delivery or dispatch by express mail or delivery
service.

     8.   CONSTRUCTION. This Note shall be construed and enforced in accordance
with the domestic, internal law, but not the law of conflict of laws, of the
State of New York.

     9.   SEVERABILITY. Any provision contained in this Note which is prohibited
or unenforceable in any jurisdiction shall, as to such jurisdiction, be
ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof, and any such prohibition or
unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.


                                      * * *
<PAGE>


     IN WITNESS WHEREOF, Maker, intending to be legally bound hereby, has caused
this Note to be duly executed by its Chief Executive Officer the day and year
first above written.

                                    CHINA PACIFIC ACQUISITION CORP.


                                    By:___________________________________
                                       Michael Friedl, Chief Financial Officer
<PAGE>


                                   SCHEDULE A

                                     PAYEES

NAME                 ADDRESS                       PRINCIPAL AMOUNT OF LOAN
----                 -------                       ------------------------

Dato' Sin Just Wong  43/F Jardine House            __% of Aggregate Principal
                     1 Connaught Place             Amount pursuant to Schedule B
                     Hong Kong, China

Matthew McGovern     c/o SBI USA LLC               __% of Aggregate Principal
                     610 Newport Center Drive      Amount pursuant to Schedule B
                     Suite 1205
                     Newport Beach, California 92660


<PAGE>


                                     SCHEDULE B




                                        AGGREGATE         INITIALS OF AUTHORIZED
     DATE           AMOUNT FUNDED    PRINCIPAL AMOUNT        COMPANY SIGNATORY
     ----           -------------    ----------------     ----------------------