Exhibit 10.8


 


Loan Agreement


 


This contract is entered
into by and between the lender and the borrower on an equal and voluntary basis according to law. In order to safeguard the legitimate
rights and interests of the borrower, the lender hereby requests the borrower to pay full attention to all the provisions concerning
the rights and obligations of both parties, especially the contents in bold type.


 


Lender: Industrial and Commercial Bank of China Limited Tahe Branch


 





Address:______________________


 


Borrower: Greater Khingan
Range Forasen Energy Technology Co., Ltd. Tahe Power Plant


 








Legal representative:
Wang Zhengyu


 


Address: ______________________


 


Zip code:______________________


 


Fax: _ Fax:_ Telephone:_


 


E-mail address: ______
Contact person: _____Mobile phone No. :_____


 


Part One: Basic
Clauses


 


Article 1 purpose
of loan


 


The loan shall be used
for the following purposes. The borrower shall not use the loan for any other purpose without the written consent of the lender,
and the lender shall have the right to supervise the purpose of the money.


 





Purpose of borrowing: Production and Operation
Activities.


 


Article 2 Amount and
Term


 


2.1 The amount of the
loan shall be RMB1,980,000.00. The term of the loan shall be calculated from the date of withdrawal and the maturity date shall
be March 17, 2020. 


 


The withdrawal date
shall be subject to the withdrawal instruction. The borrower shall make a one-time withdrawal.


 






     


     


    

 


2.2 The terms of the
loan shall be from September 19, 2019, to March 17, 2020.


 


Article 3 Interest rates,
Interest and Expenses


 


3.1 [Determination the
interest rate]


 


The interest rate shall
be determined in the following manner (2):


 


(1) The Fixed interest
rate, annual interest rate is __%, the interest rate is unchangeable during the term of the contract.


 


(2) The interest rate
is determined by the benchmark interest rate plus the floating range, in which the benchmark interest rate is according to the
people's bank of China on the date of withdrawal corresponds to the borrowing term, and the floating range is upward (upward/downward/zero)
15.000000%. After the borrower withdraws the money, the interest rate of the loan shall be 12 (1-12) months for
one period, which shall be adjusted and calculated at different phases. The date on which the interest rate of the second installment
is fixed shall be the corresponding date after of the first installment. If the corresponding date is uncertain, the last day of
that month shall be the corresponding date, and other periods shall be the same.


 


(3) The borrowing interest
rate is determined by the benchmark interest rate plus the floating range, of which the benchmark interest rate is the (annual/monthly)
basic loan interest rate (LPR) published by the national interbank lending center before the withdrawal date, and the floating
range is ___(up/down/zero)___ % or (plus/minus/zero) 0.01%. The interest rate of the loan after withdrawal shall be adjusted
in the following ways:


 


A. Take (1-12) months
as one phase, the interest should be adjusted and calculated at each phase. The interest rate determination date of the second
and subsequent phases shall be the adjusted after the withdrawal, and the lender shall adjust the interest rate of the loan according
to the base interest rate and the floating range published by the national interbank lending center of the previous working day.


 


B. No adjustment during
the whole term.


 


3.2 The loan interest shall be calculated
daily and settled monthly from the date of withdrawal. When the loan is due, the interest should be paid off with the principal.
The daily interest rate = the annual interest rate /360.


 






     


     


    

 


3.3 The overdue penalty interest rate
under this contract shall be determined by adding 50.000000% to the original loan interest rate, and the penalty interest
rate for embezzlement shall be determined by adding 50.000000% to the original loan interest rate.


 


Article 4 Withdrawal


 


4.1 After the lender distributes the
fund to the borrower's withdrawal account as agreed herein, the borrower shall withdraw the loan one time on September 19, 2019 (withdrawal date). If the borrower fails to make a lump-sum withdrawal as agreed, the lender shall have the
right to cancel all or part of the loan agreement.


 


4.2 The borrower may draw the loan hereunder
by:


 


(1) Withdrawing the loan directly from
the designated branch of the lender;


 


(2) Withdrawing the loan through the e-bank
of Industrial and Commercial Bank of China (“Industrial and Commercial Bank”).


 


Article 5 Repayment


 


5.1 The borrower shall repay the loan in
the following ways:


 


(1) The loan shall be pay off when it is
maturity


 


(2) Other:________


 


Article 6 Account


 


The borrower shall use the following accounts
for withdrawal and repayment:


 


Withdrawal account: [ ]


 


Repayment account: [ ]


 


Article 7 Guarantee


 


The_________________ has provided guarantee
for the underlying loan, and the information of the corresponding guarantee contract is as follows:


 


The Contact No: _________________


 






     


     


    

 


The guarantor: _________________


 


The contract shall be separately signed
by the lender and the guarantor, and the specific details are listed above.


 


Article 8 Others


 


Part Two: Specific
Clauses


 


Article 1 Interest rate
and Interest


 


1.1 The interest rate is determined by
the benchmark interest rate plus the floating range, the overdue interest rate shall be determined by the same manner.


 


1.2 If the interest is settled monthly,
the settlement date shall be 20th of each month, if the interest is settled quarterly, the settlement date shall be
20th of the third month, if the interest is settled semi-annually, and the settlement date shall be June 20th
and December 20th.


 


1.3 The first interest period is from the
withdraw date to the first settlement date; the last interest period is from the second date of previous settlement to the repayment
date. The rest interest periods are from the second date of previous settlement to the next settlement date.


 


1.4 Loan interest = loan principal ×
daily interest rate × actual days of use.


 


If equal principal
and interest repayment method is adopted, the calculation formula of principal and interest shall be as follows:


 


Total principal and interest of each period
= (financing principal × period interest rate × period repayment period)/ ((period interest rate) repayment period
-1)


 


1.5 The new interest rate shall be adopted
in case the People's Bank of China decides to adjust the determination method for the interest rate, and the lender is not obligated
to notify the borrower.


 


1.6 If the interest rate on the signing
date is lower than the LPR rate, the lender has the right to cancel the interest preference based the evaluation of policy change,
credit status, etc. and notify the borrower in time every year.


 


Article 2 Withdraw


 


2.1 The withdrawal of the loan must meet
the following preconditions; otherwise the lender is not obligated to make any payment to the borrower, except that the lender
agrees to make the loan in advance:


 






     


     


    

 


Other than the credit loan, the borrower
has provided corresponding guarantees as required by the lender and has completed relevant guarantees procedures.


Submit other information required by the
lender.


 


2.2 Under any of the following circumstances,
the lender shall have the right to re-determine the conditions for the issuance and payment of the loan, or to cancel the contract
and payment of the loan:


 


(1) The borrower provides incorrect
or invalid information to the lender to obtain financing;


 


(2) Any negative influence for borrower's
production and business operation, or any credit issue happened for the borrower;


 


(3) If the borrower fails to withdraw and
pay the financing funds as agreed herein, or the financing funds are used in an abnormal way;


 


(4) The borrower violates the provisions
of this contract or relevant regulatory provisions;


 


(5) The withdrawal account or payment
object account designated by the borrower is frozen or canceled by the authority.


 


Article 3 Repayment


 


3.1 The borrower is obligated to repay
the principal, interest on time.


 


3.2 The borrower may choose to repay the
loan in advance by submitting a written consent to the lender or sending out notification through ICBC ebank.


 


3.3 The lender has the right to repay the
loan in advance according to the withdrawal of the borrower's funds. If required by the lender, the borrower shall repay the loan
in installments according to the repayment plan proposed by the lender.


 


3.4 If the actual term of the loan is shortened
due to the borrower's prepayment or the lender's early withdrawal of the loan as agreed herein, the corresponding interest rate
shall not be adjusted and the original interest rate shall still apply.


 


Article 4 Guarantee


 


4.1 The lender shall
have the right to re-evaluate the value of the security property and the guarantee ability of the guarantor periodically or irregularly.
If it is deemed that the value of the security property is reduced or the guarantee ability of the guarantor is reduced, the borrower
shall provide additional value reduction or guarantee ability.


 






     


     


    

 


The reduced portion of the equivalent guarantee
may also be provided in addition to other guarantees approved by the lender.


 


Article 5 Representations
and Warranties


 


The borrower makes the following representations
and warranties to the lender, which shall remain valid throughout the term of this contract:


 


5.1 It is qualified as the subject of the
borrower and has the qualification and ability to sign and perform this contract.


 


5.2 The signing of this contract has obtained
all necessary authorization or approval, and the signing and performance of this contract does not violate the company's articles
of association and relevant laws and regulations, and has no conflict with other obligations under this contract.


 


5.3 Other debts payable have been paid
on schedule and there is no malicious default on the principal and interest of bank loans.


 


5.4 The company has a complete organizational
structure and financial management system. No major violations of rules and regulations have taken place in the production and
operation process in the recent years, and the current senior managers have no major bad records.


 


5.5 All documents and materials provided
to the lender are true, accurate, complete and valid, and there are no false records, material omissions or misleading statements.


 


5.6 The financial and accounting reports
provided to the lender are prepared in accordance with Chinese accounting standards, which is truly, fairly and completely reflect
the borrower's business conditions and liabilities, and also the borrower's financial statements since the date of the latest financial
and accounting reports


 


There has been no material adverse change
in the situation.


 


Article 6 Borrower
commitment


 


6.1. Borrower accepts and shall abide by
Lender's business system, operational practices, and the procedures under this Loan Contract.


 


6.2. Borrower warrants that it will cooperate
with Lender on the supervision and inspection of the use of the funds borrowed under this Loan Contract and of the business condition
of Borrower and that it will promptly provide all financial statements and related materials needed by Lender, which Borrower warrants
to be true, complete and accurate.


 






     


     


    

 


6.3. Repay the principal and interests
on time.


 


6.4. To provide data (including money owed,
and loan newly borrowed large in sum etc.) as what the money lender asks, and cooperate with the money lender to investigate, censor
and check any aspects of personal economic income and expenses related to the loan;


 


6.5. Borrower warrants that it will issue
written notices to Lender upon occurrence or possible occurrence of the following events in time:


 


(1) Borrower's operational
system or organizational form of property ownership is changed materially, including, but not limited to, introducing the practice
of contracting, conducting leasing operations, entering into joint operations, restructuring equity, merging with (acquiring)other
entities, entering into a joint venture(cooperative arrangement),splitting into separate entities, setting up a subsidiary, transferring
title to property, reducing capital, termination or dissolution and filing for bankruptcy;


 


(2) Borrower amends
it articles of association, replaces its legal representative, reduces its registered capital or makes material changes in its
finances or personnel;


 


(3) Borrower sells,
leases, transfers or otherwise disposes of all or part of its assets;


 


(4) Borrower provides
a guaranty to a third party, which will have a material adverse effect on its financial position or its ability to perform its
obligations under this Loan Contract;


 


(5) Borrower is a party
to a material legal suit or its main assets have been put under property preservation or other orders;


 


(6) Borrower experiences
other matters which will produce a material adverse effect on its financial position or ability to repay its debt.


 


6.6. All charges in evaluation, registry,
insurance and notarization etc. for making and carrying out the contract shall be paid by the borrower.


 


Article 7 Lender
Commitment


7.1 To release the full
loan on schedule;


 


7.2 To keep a secret
for the borrower in such areas as occupation, economic income and expenses etc.


 









     


     


    

 


Article 8 Events of
Default


 


8.1. Any of the following
events shall be considered a default under this Article:




 


(1) Borrower misappropriates
loan funds;


 


(2) Borrower is delinquent
in its repayment of the principal or interest;


 


(3) Borrower or guarantor
refuses normal financial or operational supervision by Lender, or Borrower or guarantor provides false financial statements or
asset appraisal reports;


 


(4) Borrower or guarantor
is involved in illegal activities;


 


(5) According to the
stipulations in the loan terms, in case of the guarantor (guaranty) changed, which leads to the obligations performed by the guarantor
ahead of schedule or the disposal of guaranty by the money lender in advance; or any actions the borrower may take which influence
returning the principal and interests to the money lender;


 


(6) The legal representative
or primary management personnel of Borrower or guarantor is involved in a criminal case;


 


8.2. In the event of
events of default, Lender has the right to take the following steps:


 


(1) Request the
borrower to rectify the breach of contract within a time limit;


 


(2) Stop
providing loan funds that Borrower has not yet used;


 


(3) Unilaterally declare
all principal already lent under the Loan Contract to be due ahead of the contract due date and require Borrower immediately to
return the principal and pay all interest due; and


 


(4) Take other remedies
as provided by applicable laws and regulations.


 


(5) If
the borrower fails to repay the loan as contracted or the borrower fails to use the loan for the purposes specified in this contract,
the lender shall have the right to charge the penalty interest at the overdue penalty interest rate stipulated in this contract
from the date of the expiration of the loan.


 


(1) Request the borrower
to rectify the breach of contract within a time limit;


 


(2) Stop
providing loan funds that Borrower has not yet used;


 


(3) Unilaterally declare
all principal already lent under the Loan Contract to be due ahead of the contract due date and require Borrower immediately to
return the principal and pay all interest due; and


 


(4) Take other remedies
as provided by applicable laws and regulations.


 


(5) If
the borrower fails to repay the loan as contracted or the borrower fails to use the loan for the purposes specified in this contract,
the lender shall have the right to charge the penalty interest at the overdue penalty interest rate stipulated in this contract
from the date of the expiration of the loan.


 






     


     


    

 


Article 9 Deduction


 


9.1 If the borrower fails to repay the
debts on time (including the debts which is declared to be immediately due) as agreed in the contract, the borrower agrees that
the lender withholds the corresponding amount from all the local and foreign currency accounts opened by the borrower in Industrial
and Commercial Bank for repayment until the loan is made The date when all debts of the payee under this contract have
been discharged.


 


9.2 If the withholding amount is inconsistent
with the currency hereof, it shall be converted according to the exchange rate applicable to the lender on the withholding date.













 


The interest and other expenses incurred
during the period of the debt and the difference caused by the fluctuation of exchange rate during the period shall be paid by
the borrower.


 


9.3 If the withholding amount from the
borrower is not enough to pay off all of its debts, the money lender shall have the right to determine the priority of claims.


 


Article 10 Transfer of Rights and Duties


 


10.1 The money lender may transfer
his rights and interests under the contract to other people even if with no approval from borrower or guarantor, while the
borrower and guarantor shall continue to finish their responsibilities or obligations stipulated in the contract; the
borrower or guarantor shall not transfer his responsibilities or obligations stipulated in the contract to a third party if
with no written approval from the money lender.


 





10.2 The borrower or Industrial and Commercial
Bank.


 




Article
11 Take Effect, Change, Cancel and Terminate


 


11.1 This contract shall come into force when
the following conditions are met and shall be valid until the date when the borrower's obligations here under have been fully fulfilled


 


(1) The electronic signature of the borrower
and the confirmation of the lender;


 


(2) The loan application submitted by the
borrower shall be approved by the lender.


 


The lender may confirm this contract by means
of electronic banking system.


 






     


     


    

 


11.2 If, due to reasons of system malfunction
or any force majeure events, the amount of loan, maturity date, or any other material terms of Loan Agreement appear incorrect
in the e-bank platform of Industrial and Commercial Bank, the creditor shall have the right to correct such information and timely
notify the borrower.


 


11.3 The borrower shall acknowledge and
understand the transactions rules of the e-bank platform of Industrial and Commercial Bank in relation to Loan Agreement. The borrower
shall keep its customer certificate and passcode properly. Any transactions made in connection with the borrower’s customer
number, passcode, or customer certificate are deemed to be made by the borrower, and any records thereof shall be proof of such
transactions. Electronic signatures the borrower provides for this Loan Agreement made through the e-bank platform of Industrial
and Commercial Bank are deemed to be authorized by the borrower.


 


11.4 Any modification to this Agreement shall
be negotiated and agreed upon by both parties, and be made in writing. Modifications to this Agreement shall constitute part of
the Agreement and have the same legal effect. Prior to the effective date of a modification, the original clause remains legally
effective.


 


11.5. In the event of change of laws, regulations
or legal practice which will cause any terms contained in this contract become illegal, invalid or loss of practice, the other
part of this contract shall not be impaired by it. The both parties shall make efforts to change the illegal, invalid or loss
of practice part.




 


11.6. If any clause of Loan Agreement becomes invalid or unenforceable, there shall be no impact on the validity
or enforceability of any other clauses of Loan Agreement, nor shall it impact the enforceability of Article 12 in relation to dispute
resolution.


 


11.7. There shall be no influences on
the rights that each party has for its losses compensated after any changes or termination of the contract happened. The
termination of the contract shall not affect the effectiveness of the clauses in the contract stipulated for
settling disputes.


 


Article 12 Application
of law and dispute resolution Article


 


The conclusion,
validity, interpretation, performance and dispute settlement of this agreement shall be governed by the laws of the People's
Republic of China. All disputes and disputes arising out of or in connection with this agreement shall be settled by the
parties through negotiation. If no agreement can be reached through negotiation, the dispute shall be litigated in the
People’s Court where the lender is located with proper jurisdiction.


 


Article 13 the address
of service of litigation/arbitration documents shall be sent


 


13.1 The borrower acknowledges that the address set forth on the
first page of this contract shall be the service address of the litigation/arbitration documents involved in the disputes hereunder.
Litigation/arbitration documents include but are not limited to summons, notice of hearing, judgment, order, conciliation statement
and a notice of performance, etc.


 


13.2 The borrower agrees that arbitration/litigation
documents may be served by the arbitration institution or the court by fax or E-mail as set forth in the first page of this contract,
except the written judgment, order or conciliation statement.


 


13.3 The above provisions on service shall
apply to all stages of first instance, second instance, retrial and execution of arbitration and litigation proceedings. For the
above address of service, service may be made by the arbitration institution or the court directly by mail.


 






     


     


    

 


13.4 The borrower shall ensure the authenticity
and validity of the address, contact person, fax, E-mail and other information recorded in this contract. If the relevant information
is changed, the borrower shall promptly notify the lender in writing; otherwise, the borrower shall bear any legal consequences
due to they fail to provide the valid address.


 


Article 14 Complete
Agreement


 


This Loan Agreement is comprised of Part
One: Basic Clauses and Part Two: Specific Clauses. Any phrase in both parts of Loan Agreement shall have the same meanings. Both
parts apply to the loan made pursuant to this Loan Agreement.


 


Article 15 Notice


 


15.1 All notices shall be sent in writing
(including electronic form). Unless otherwise agreed, the address in the contract shall be the contact address. Any change
in the contact mode of either party shall be notified to the other party in writing in time.


 


15.2 In the event that any party to Loan Agreement rejects to receive notices, or any notice cannot be
delivered due to other circumstances, notice shall be deemed to be given if the sender obtains notary certificate.


 


Article 16 Special
provisions of value-added tax


 


16.1 The interest and fees paid by the
borrower to the lender under this contract (as specified in the contract) are tax-inclusive.


 





16.2 If the borrower requires the lender
to issue a VAT invoice, it shall first register the information at the lender, including the borrower's full name, taxpayer identification
number or social credit code, address, telephone number, bank of deposit and account number. The borrower shall ensure that the
relevant information provided to the lender is true, accurate and complete, and provide relevant proof materials as required by
the lender. The specific requirements shall be published by the lender through the network notice or website announcement.


 


16.3 If the borrower collects the VAT
invoice by itself, it shall provide the lender with the power of attorney with the stamp, designate the recipient and specify
the recipient's ID card number and other information. The designated recipient shall collect the VAT invoice with the original
ID card. If the person is changed, the borrower shall re-issue the power of attorney with seal to the lender. If the borrower
chooses to receive the VAT invoice by mail, it shall also provide accurate and deliverable postal information; if the mailing
information has been changed, it shall promptly notify the lender in writing.


 


16.4 If the lender fails to issue the VAT
invoice in time due to force majeure such as natural disasters, governmental ACTS, social abnormal events or tax authorities, the
lender shall have the right to delay the invoice issuance without any liability.


 






     


     


    

 


16.5 If the VAT invoice is received by
the borrower or delivered by the lender to a third party by mailing, and the invoice is lost, damaged or overdue due to other non-lender
reasons, which causes the borrower to fail to receive the corresponding VAT invoice or fail to offset the overdue VAT invoice,
the lender shall not be responsible for compensating the borrower for the relevant economic losses.


 


16.6 During the performance of this contract,
in case of national tax rate adjustment, the lender shall have the right to adjust the agreed price according to the change of
national tax rate.


 


Article 17. Other
Clauses


 


17.1 The non-exercise, partial
exercise, or delay in the exercise of any rights that the borrower has under this Agreement shall not constitute the
abandonment or alteration of such rights, nor shall it impact the borrower’s future exercise of such rights or any
other rights it has under this Agreement.


 


17.2 The invalidity of any clause in the
contract shall not affect the validity of other clauses, nor shall it affect the validity of the whole contract.


 




17.3 This contract could be amended
and supplemented upon the written agreements conclude by the parties. Any an amendment and supplement shall be integral party
of this contract.


 


17.4 In compliance with applicable laws and regulations, the money lender shall have the right to provide information
related to this Agreement and related to the borrower to Credit Information System established by People’s Bank of China.


 





17.5 In this Agreement and any modifications
thereof, “Primary Management Personnel” shall be interpreted pursuant to the definition in Corporation Accounting Standards
No.36.


 


17.6 Any certificate or records kept by
the creditor in its regular course of business shall have binding evidentiary effects on the borrower regarding its lender-borrower
relationship with the money lender.


 


17.7 In this Agreement:


(1) “Agreement”
shall include any modifications or supplement made to the original Loan Agreement;


(2) titles of the Articles
shall be used for reference only and shall not be interpreted to explain or limit any contents of this Agreement; and


(3) if withdrawal or
payment is made on a non-business day, the effective date is postponed to the next business day.




 


This Loan Contract has two originals,
which are identical to each other, with each of the parties holding one copy. There are several duplicates for future reference.