Document:

Exhibit
                10.4 

            	
               

            

    

    

    

    

    
 

    Loan
      Contract
(Summary
      Translation)

    

    

    

    

    
 

    

    China
      Construction Bank

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    Loan
      Contract 

     

    
      	
              Borrower:
                

            	
              Fuwei
                Films (Shandong) Co., Ltd.

            
	
              Legal
                Representative: 

            	
              Xiaoan
                He

            
	
              Legal
                Address: 

            	
              358
                Dongfeng Dong Street, Kui District, Weifang

            
	
               

            	
              261061

            
	
              Telephone:
                

            	
              8788113

            
	
              Fax:
                

            	
              8882685

            
	 	 
	
              Lender:
                

            	
              Weifang
                Branch, China
                Construction Bank

            
	
              Responsible
                Person: 

            	
              Tingqiang
                Wang

            
	
              Correspondence
                Address: 

            	
              33,
                Siping Road, Kuiwen District, Weifang

            
	
               

            	
              261041

            
	
              Telephone:
                

            	
              8286150

            
	
              Fax:
                

            	 

    

     

    Both
      parties agree to the following terms:

     

    
      	
              1

            	
              Loan

            
	 	 
	
              1.1

            	
              Currency:
                Renminbi (RMB)

            
	 	 
	
              1.2

            	
              Amount:
                12,600,000 Only

            
	 	 
	
              1.3

            	
              The
                proceeds of the Loan under this Contract shall be used for the
                repayment of the loan under the contract No.
                2005-GLDK-10.

            
	 	 
	
              1.4

            	
              Loan
                Period: Commencing from September
                16, 2005, to January 20, 2006.

            
	 	 
	
              2
                

            	
              Interest
                Rate and Computation of Interest 

            
	 	 
	
              2.1

            	
              Loan
                interest rate (fixed): 6.138% (annually
                /monthly)

            

    

     

    
      
        
        

      

      
        -2-

        
          

        

      

      
        
        

      

    

    

       

       

    

    
      	
              2.2.1

            	
              The
                penalty interest: 9.207% (annually/monthly) 

            
	 	 
	
              2.2.2
                

            	
              The
                penalty interest : 12.276% if the loan is not used as described in
                this
                contract.

            
	 	 
	
              2.2.3
                

            	
              The
                penalty interest: 9.207% if repayment is after the maturity
                date.

            
	 	 
	
              2.3. 

            	
              The
                beginning date to bear the interest is the date on which the first
                partial
                loan to be transferred to Borrower’s account.

            
	 	 
	
              2.4. 

            	
              computation
                of the interests are as follows: daily interest is equal to the monthly
                interest/30, also equal to the annually interest/360. 

            
	 	 
	
              2.5. 

            	
              Interest
                settlement:

            
	 	 
	
              2.5.1
                

            	
              Fixed
                interest will be computed by the fixed rate as above.

            
	 	 
	
              2.5.2

            	
              Interest
                settlement on the 20th
                day of each month.

            
	 	 
	
              3

            	
              Granting
                and Repayment of Loan

            
	 	 
	
              3.1

            	
              Lender
                shall start to grant the proceeds of the loan in five ( 5) days scheduled
                as below upon Borrowers’ satisfaction to the conditions in Section 3.2 .
                

            

    

     

    
      Granting
        Date       Granting
        Amount

      16   
        day 09  month  2005 Year;          12,600,000
        (amount in
        English)

      ___
        day
        ___ month ___ Year; ________________________(amount in English)

      ___
        day
        ___ month ___ Year; ________________________(amount in English)

      ___
        day
        ___ month ___ Year; ________________________(amount in English)

      
 

    

    
      	
              3.2

            	
              Unless
                all of the following conditions are satisfied, Lender has the right
                to
                refuse to grant the Loan:

            
	 	 
	
              3.2.1

            	
              Borrower
                has already completed the statutory procedures including obtaining
                related
                permit, approval and registration from the government and such permit,
                approval and registration remain in full force and
                effect.

            

    

     

    
      
        
        

      

      
        -3-

        
          

        

      

      
        
        

      

    

    

       

       

    

    
      	
              3.2.2

            	
              The
                guarantee contract (if any) under this Contract has come into effect
                and
                remains in full force and effect.

            
	 	 
	
              3.2.3

            	
              The
                financial condition of the Borrower does not have any substantial
                adverse
                changes.

            
	 	 
	
              3.2.4

            	
              Borrower
                is not in breach of this Contract. 

            
	 	 
	
              3.3.1

            	
              The
                repayment of the interests will be prior to the repayment of the
                principal. 

            
	 	 
	
              3.3.2
                

            	
              The
                interests will be repaid on the interest settlement
                date.

            
	 	 
	
              3.3.3

            	
              Repayment
                of the loan: 

            

    

    
       

      
        Repayment
          Date                          
Repayment
          Amount

        02   
          day 01
          month 2006
          Year;                       12,600,000
          (amount
          in English)

        ___
          day
          ___ month ___ Year; ________________________(amount in English)

        ___
          day
          ___ month ___ Year; ________________________(amount in English)

        ___
          day
          ___ month ___ Year; ________________________(amount in
          English)

      

       

    

    
      	
              3.4.1

            	
              Borrower
                shall repay the interests prior to the scheduled date with a notice
                to the
                Lender.

            
	 	 
	
              3.4.2

            	
              Borrower
                shall repay portion or total of the loan prior to the scheduled date
                upon
                30 days prior written notice to the Lender and upon Lender’s
                consent.

            
	 	 
	
              3.4.3

            	
              Interests
                will be computed on a daily basis and in accordance to the loan rate
                set
                forth in the Section 4.

            
	 	 
	
              3.4.4

            	
              Borrower
                agrees to compensate Lender for its advance repayment of the principal
                as
                following: amount of the compensation is equal to the repayment amount
                of
                the principal X 0.005% X actual days difference.:
                

            

    

     

    
      
        
        

      

      
        -4-

        
          

        

      

      
        
        

      

    

    

       

       

    

    
      	
              4

            	
              Representation
                and Guarantee of the Borrower

            
	 	 
	
              4.1

            	
              Borrower
                is an independent entity and has the necessary contractual capacity
                to
                perform this Contract and will be liable for its non-performance
                of its
                obligations hereunder.

            
	 	 
	
              4.2

            	
              The
                execution and performance of this Contract is the true intention
                of the
                Borrower, and the Borrower has all necessary consents, approvals
                and
                authorizations to perform its obligations. 

            
	 	 
	
              4.3

            	
              All
                the documents, reports, data and information provided by the Borrower
                to
                the Lender during the execution and performance of this Contract
                are true,
                accurate, complete and in full effect, and Borrower has not withheld
                any
                information which may affect the evaluation of its financial status
                and
                repayment ability. 

            
	 	 
	
              5

            	
              Rights
                and Obligations of Lender

            
	 	 
	
              5.1

            	
              Lender
                has the right to be repaid the principal, receive interest (including
                compound, overdue and appropriated penalty interest) and the necessary
                expenses from the Borrower in accordance with this Contract. Lender
                has
                the right to exercise any other rights under the relevant laws and
                regulations or stipulated in this Contract. 

            
	 	 
	
              5.2

            	
              Except
                as otherwise specified under this contract, Lender shall keep all
                the
                financial and operation data and information confidential unless
                compelled
                by requirements of applicable laws and regulations

            
	 	 

    

    
      	
              6

            	
              Rights
                and Obligations of Borrower

            
	 	 
	
              6.1
                

            	
              Borrower
                shall provide the Lender with its true and accurate operational and
                financial information in accordance with Lender’s requirement, including
                but not limited to the balance sheet, the income statement and the
                cash
                flow statement. 

            

    

     

    
      
        
        

      

      
        -5-

        
          

        

      

      
        
        

      

    

    

       

       

    

    
      	
              6.1

            	
              Borrower
                shall repay the Loan under this Contract and pay the interest hereunder
                in
                accordance with the date, amount, currency set forth in this Contract.
                

            
	 	 
	
              6.2

            	
              Borrower
                shall not use the proceeds of the Loan for any usage not stipulated
                in
                this Contract. 

            
	 	 
	
              6.3

            	
              Borrower
                shall be liable for the expenses under this Contract, including but
                not
                limited to, expenses for notary service, authentication, evaluation
                and
                registration.

            
	 	 
	
              6.4

            	
              Borrower
                shall comply with the operation procedure and the general practice
                of the
                Lender and loan application, including but not limited to, facilitating
                Lender’s examination and supervision on Borrower’s operation status, and
                providing all the financial statements, or any other data and information
                requested by Lender, and shall guarantee that such documents, data
                and
                information are true, complete and accurate. 

            
	 	 
	
              6.5

            	
              If
                any one of the following events occurs, Borrower shall notify the
                Lender
                within X days and shall not commence such activities unless the Loan
                and
                interest under this Contract are repaid completely, or a repayment
                schedule and guarantee are approved and accepted by the Lender. These
                are
                as follows:

            
	 	 
	
              6.5.1

            	
              Selling,
                donating, renting, lending, assigning, mortgaging, pledging or disposing
                of all or substantial part of its assets.

            
	 	 
	
              6.5.2

            	
              Any
                substantial changes in organization or structure of the Borrower,
                including but not limited to, its operation, subcontracting, lease,
                affiliation, company restructuring, joint-stock, merger (consolidation),
                equity joint-venture (non-equity), spin-off, incorporation of subsidiary,
                asset assignment, reduction of registered capital, etc.
                

            

    

     

    
      
        
        

      

      
        -6-

        
          

        

      

      
        
        

      

    

    

       

       

    

    
      	
              6.6

            	
              Borrower
                shall notify the Lender within X days of occurrence of any of the
                following events: 

            
	 	 
	
              6.6.1

            	
              Amendment
                of the Articles of Association, change of Borrower’s name, change of legal
                representative , change of domicile, change of address, and change
                in the
                scope of its business.

            
	 	 
	
              6.6.2

            	
              Borrower
                or Guarantor’s (if any) intention to file for
                bankruptcy.

            
	 	 
	
              6.6.2

            	
              Borrower’s
                involvement in any major litigation or arbitration, or any lien or
                encumbrance is imposed on its assets.

            
	 	 
	
              6.6.4

            	
              Borrower’s
                guarantee to any other third party, which will have an adverse effect
                on
                its financial status and ability to perform its obligations under
                this
                Contract.

            
	 	 
	
              6.6.5

            	
              Borrower
                enters into a contract which will have a material adverse effect
                on its
                operation and financial status. 

            
	 	 
	
              6.6.6

            	
              Borrower
                or Guarantor (if any) stops its operation, its business terminates
                or its
                business license is revoked.

            
	 	 
	
              6.6.7
                

            	
              Borrower’s
                legal representative or senior management has committed a criminal
                offence.

            
	 	 
	
              6.6.8

            	
              Borrower
                faces substantial hardship in managing its business or any other
                event
                which will have an adverse effect on the financial status or ability
                of
                the Borrower to repay the Loan.

            
	 	 
	
              6.6.9

            	
              Any
                changes to the form of collateral under this Contract that may have
                adverse effect on Lender’s right shall be made upon Lender’s consent.
                

            
	 	 
	
              7

            	
              Breach
                of Contract

            
	 	 
	
              7.1

            	
              In
                the event of the occurrence of any of the following events, Lender
                has the
                right to suspend the drawing of the proceeds of the Loan and require
                repayment of the principal of the Loan partially or completely before
                the
                maturity date and demand that the Borrower repay the principal of
                the Loan
                and pay the interest hereunder. These are as
                follows:

            

    

     

    
      
        
        

      

      
        -7-

        
          

        

      

      
        
        

      

    

    

       

       

    

    
      	
              7.1.1

            	
              Borrower’s
                representations and warranties in Section 4 are not true;
                

            
	 	 
	
              7.1.2

            	
              Borrower
                is in breach of this Contract;

            
	 	 
	
              7.1.3

            	
              The
                events set forth in Section 6.6 have occurred and Lender believes
                that
                such event will have a material adverse effect on its rights as a
                creditor; or

            
	 	 
	
              7.1.4

            	
              Borrower
                has delayed its performance or is in breach of other contracts entered
                into between Borrower and Lender, and has not provided the Lender
                with any
                remedy upon notification by Lender. 

            
	 	 
	
              7.2
                

            	
              In
                the event that Borrower fails to repay the principal or interest
                in full
                in a timely fashion, or to use the proceeds of the Loan as set forth
                in
                this Contract, Lender has the right to use the overdue penalty interest
                rate and appropriate penalty interest rate to calculate the
                interest.

            
	 	 
	
              7.3
                

            	
              In
                the event that Borrower fails to repay the principal or interest
                in full
                in a timely fashion, Borrower shall be liable for the Lender’s expenses in
                exercising its creditor’s rights, including litigation cost (arbitration
                fee), costs of preservation of asset, costs of publication, enforcement
                costs, legal fees, travel and other expenses. 

            
	 	 
	
              7.4
                

            	
              the
                interest of the Loan or avoids the repayment intentionally, Lender
                has the
                right to inform relevant government authority and to publish the
                payment
                notification in the news media. 

            
	 	 
	
              8

            	
              Dispute
                Resolution

            
	 	 

    

    Any
      dispute arising from or in connection with this Contract shall be resolved
      by
      the first method listed below:

     

    
      
        
        

      

      
        -8-

        
          

        

      

      
        
        

      

    

    

       

       

    

    
      	
              1.

            	
              File
                a lawsuit to the competent court in the place where Lender is located;
                or
                

            
	 	 
	
              2.

            	
              Submit
                the disputes to ________arbitration committee for arbitration in
                accordance with the currently effective arbitration rules of such
                committee. The arbitral award is final and is legally binding upon
                both
                Parties. 

            

    

    

    
      	
              9
                

            	
              Miscellaneous

            
	 	 
	
              9.1

            	
              This
                Contract comes into effect upon both Parties’ execution of this
                contract.

            
	 	 
	
              9.2

            	
              This
                Contract is executed in
                four (4) counterparts. Each of the Parties and Guarantor shall keep
                one
                counterpart. 

            

    

     

    IN
      WITNESS WHEREOF,
      the
      parties hereto have executed this Contract as of the day and year first set
      forth below.

     

    September
      16, 2005

     

    
      	
              Borrower
                (seal):

            	
              Lender
                (seal):

            
	 	 
	 	 
	 	 
	
              Legal
                Representative or Authorized Person

            	
              Responsible
                Person or Authorized Person

            
	 	 
	
              Xiaoan
                He

            	
              Bank
                of Communication

            
	 	 
	
              (signature
                or seal)

            	
              (signature
                or seal)

            

    

    

     

    -9-Exhibit
                10.5	
                 

              

      

      
 

      

      

      Ref.
        No.: 2006-GLDK-09 

       

      

      

      

      

      

      

      

      

      Loan
        Contract
(Summary
        Translation)

      

      

      

      

      

      

      

      

      

      

      

      
 

      

      

      China
        Construction Bank

       

       

      
        
          
          

        

        
          -1-

          
            

          

        

        
          
          

        

      

       

       

      
 

      Ref
        No.:2006-GLDK-09

      Loan
        Contract 

      

      
        

        
          	Borrower:	 Fuwei Films (Shandong) Co.,
                  Ltd.
	 	 
	Legal Representative:	 Xiaoan He
	 	 
	Legal Address:	 358 Dongfeng Dong Street, Kui
                  District, Weifang
	 	 261061
	 	 
	Telephone:	 8788113
	 	 
	Fax:	 8882685
	 	 
	 	 
	Lender:	 Weifang Branch, China Construction
                  Bank
	 	 
	Responsible Person:	 Tingqiang Wang
	 	 
	
                  Correspondence
                    Address:

                	 33, Siping Road, Kuiwen District,
                  Weifang
	 	 261041
	 	 
	Telephone:	 8286150
	 	 
	Fax:	 

        

      

       

      Both
        parties agree to the following terms:

       

      
        	
                1

              	
                Loan

              

      

       

      
        	
                1.1

              	
                Currency:
                  Renminbi (RMB)

              

      

       

      
        	
                1.2

              	
                Amount:
                  10,000,000 Only

              

      

       

      
        	
                1.3

              	
                The
                  proceeds of the Loan under this Contract shall be used for the
                  repayment
                  of the loan under the contract No.
                  2005-GLDK-13.

              

      

       

      
        	
                1.4

              	
                Loan
                  Period: Commencing from March 31, 2006, to January 20,
                  2007.

              

      

       

      
        	2	
                Interest
                  Rate and Computation of Interest

              

      

       

      
        	2.1	
                Loan
                  interest rate( fixed): 6.138% (annually
                  /monthly)

              

      

       

      
        	2.2.1	
                The
                  penalty interest: 9.207%
                  (annually/monthly)

              

      

      
         

        
          
            
            

          

          
            -2-

            
              

            

          

          
            
            

          

        

         

         

        
 

      

      
        	2.2.2	
                The
                  penalty interest: 12.276% if the loan is not used as described
                  in this
                  contract.

              

      

       

      
        	2.2.3	
                The
                  penalty interest: 9.207% if repayment is later than the maturity
                  date.

              

      

       

      
        	2.3.	
                The
                  beginning date to bear the interest is the date on which the first
                  partial
                  loan to be transferred to Borrower’s
                  account.

              

      

       

      
        	2.4.	
                computation
                  of the interests are as follows: daily interest is equal to the
                  monthly
                  interest/30, also equal to the annual interest/ 360.
                  

              

      

       

      
        	2.5.	
                Interest
                  settlement:

              

      

       

      
        	2.5.1	
                Fixed
                  interest will be computed by the fixed rate as
                  above.

              

      

       

      
        	2.5.2	
                Interest
                  settlement on the 20th
                  day of each month.

              

      

       

      
        	3	
                Granting
                  and Repayment of Loan

              

      

       

      
        	3.1	
                Lender
                  shall start to grant the proceeds of the loan in five ( 5) days
                  scheduled
                  as below upon Borrowers’ satisfaction of the conditions in Section 3.2.
                  

              

      

       

      Granting
        Date      Granting
        Amount

      31
        day
        03
        month
        2006
Year;                          
        10,000,000
        (amount
        in English)

      ___
        day
        ___ month ___ Year; _________________(amount in English)

      ___
        day
        ___ month ___ Year; _________________(amount in English)

      ___
        day
        ___ month ___ Year; _________________(amount in English)

       

      
        	
                3.2

              	
                Unless
                  all of the following conditions are satisfied, Lender has the right
                  to
                  refuse to grant the Loan:

              

      

       

      
        	
                3.2.1

              	
                Borrower
                  has already completed the statutory procedures including obtaining
                  related
                  permit, approval and registration from the government and such
                  permit,
                  approval and registration remain in full force and
                  effect.

              

      

       

      
        	
                3.2.2

              	
                The
                  guarantee contract (if any) under this Contract has come into effect
                  and
                  remains in full force and effect.

              

      

      
         

        
          
            
            

          

          
            -3-

            
              

            

          

          
            
            

          

        

         

         

        
 

      

      
        	3.2.3	
                The
                  financial condition of the Borrower does not have any substantial
                  adverse
                  changes.

              

      

       

      
        	
                3.2.4

              	
                Borrower
                  is not in breach of this Contract. 

              

      

       

      
        	3.3.1	
                The
                  repayment of the interests will be prior to the repayment of the
                  principal. 

              

      

       

      
        	3.3.2	
                The
                  interests will be repaid on the interest settlement
                  date.

              

      

       

      
        	3.3.3	
                Repayment
                  of the loan: 

              

      

       

             
        Repayment Date      
        Repayment Amount

      20
        day
01
        month
        2007
Year;                         
         10,000,000
        (amount
        in English)

      ___
        day
        ___ month ___ Year;
        ___________           
_(amount in English)

      ___
        day
        ___ month ___ Year; _________________(amount in English)

      ___
        day
        ___ month ___ Year; _________________(amount in English)

       

      
        	
                3.4.1

              	
                Borrower
                  shall repay the interests prior to the scheduled date upon notice
                  to the
                  Lender.

              

      

       

      
        	
                3.4.2

              	
                Borrower
                  shall repay portion or total of the loan prior to the scheduled
                  date upon
                  30 days prior written notice to the Lender and Lender’s
                  consent.

              

      

       

      
        	
                3.4.3

              	
                Interests
                  will be computed on a daily basis and the loan rate set forth in
                  the
                  Section 4.

              

      

       

      
        	
                3.4.4

              	
                Borrower
                  agrees to compensate Lender for its advance repayment of the principal
                  as
                  following: amount of the compensation is equal to the repayment
                  amount of
                  the principal X 0.005% X actual days
                  difference.

              

      

       

      
        	
                4

              	
                Representation
                  and Guarantee of the
                  Borrower

              

      

       

      
        	
                4.1

              	
                Borrower
                  is an independent entity and has the necessary contractual capacity
                  to
                  perform this Contract and will be liable for its non-performance
                  of its
                  obligations hereunder.

              

      

      
         

        
          
            
            

          

          
            -4-

            
              

            

          

          
            
            

          

        

         

         

        
 

      

      
        	
                4.2

              	
                The
                  execution and performance of this Contract is the true intention
                  of the
                  Borrower, and the Borrower has all necessary consents, approvals
                  and
                  authorizations to perform its
                  obligations.

              

      

       

      
        	4.3	
                All
                  the documents, reports, data and information provided by the Borrower
                  to
                  the Lender during the execution and performance of this Contract
                  are true,
                  accurate, complete and in full effect, and Borrower has not withheld
                  any
                  information which may affect the evaluation of its financial status
                  and
                  repayment ability. 

              

      

       

      
        	
                5

              	
                Rights
                  and Obligations of Lender

              

      

       

      
        	5.1	
                Lender
                  has the right to be repaid the principal, receive interest (including
                  compound, overdue and appropriated penalty interest) and the necessary
                  expenses from the Borrower in accordance with this Contract. Lender
                  has
                  the right to exercise any other rights under the relevant laws
                  and
                  regulations or stipulated in this Contract.

              

      

       

      
        	5.2	
                Except
                  as otherwise specified under this contract, Lender shall keep all
                  the
                  financial and operation data and information confidential unless
                  compelled
                  by requirements of applicable laws and regulations.
                  

              

      

       

      
        	
                6

              	
                Rights
                  and Obligations of
                  Borrower

              

      

       

      
        	6.1	
                Borrower
                  shall provide the Lender with its true and accurate operational
                  and
                  financial information in accordance with Lender’s requirements, including
                  but not limited to the balance sheet, the income statement and
                  the cash
                  flow statement. 

              

      

       

      
        	
                6.1

              	
                Borrower
                  shall repay the Loan under this Contract and pay the interest hereunder
                  in
                  accordance with the date, amount, currency set forth in this Contract.
                  

              

      

      
         

        
          
            
            

          

          
            -5-

            
              

            

          

          
            
            

          

        

         

         

        
 

      

      
        	6.2	
                Borrower
                  shall not use the proceeds of the Loan for any usage not stipulated
                  in
                  this Contract. 

              

      

       

      
        	6.3	
                Borrower
                  shall be liable for the expenses under this Contract, including
                  but not
                  limited to, expenses for notary service, authentication, evaluation
                  and
                  registration.

              

      

       

      
        	6.4	
                Borrower
                  shall comply with the operation procedure and the general practice
                  of the
                  Lender and loan application, including but not limited to, facilitating
                  Lender’s examination and supervision on Borrower’s operation status, and
                  providing all the financial statements, or any other data and information
                  requested by Lender, and shall guarantee that such documents, data
                  and
                  information are true, complete and accurate.

              

      

       

      
        	6.5	
                If
                  any one of the following events occurs, Borrower shall notify the
                  Lender
                  within X days and shall not commence such activities unless the
                  Loan and
                  interest under this Contract are repaid completely, or a repayment
                  schedule and guarantee are approved and accepted by the Lender.
                  These are
                  as follows:

              

      

       

      
        	6.5.1	
                Selling,
                  donating, renting, lending, assigning, mortgaging, pledging or
                  disposing
                  of all or substantial part of its
                  assets.

              

      

       

      
        	
                6.5.2

              	
                Any
                  substantial changes in organization or structure of the Borrower,
                  including but not limited to, its operation, subcontracting, lease,
                  affiliation, company restructuring, joint-stock, merger (consolidation),
                  equity joint-venture (non-equity), spin-off, incorporation of subsidiary,
                  asset assignment, reduction of registered capital, etc.
                  

              

      

       

      
        	6.6	
                Borrower
                  shall notify the Lender within X days of occurrence of any of the
                  following events: 

              

      

       

      
        
          
            	6.6.1	
                    Amendment
                      of
                      the Articles of Association, change of Borrower’s name, change of legal
                      representative , change of domicile, change of address, and
                      change in the
                      scope of its business.

                  

          

        

      

      
         

        
          
            
            

          

          
            -6-

            
              

            

          

          
            
            

          

        

         

         

        
 

      

      
        	
                6.6.2

              	
                Borrower
                  or Guarantor’s (if any) intention to file for
                  bankruptcy.

              

      

       

      
        	6.6.2	
                Borrower’s
                  involvement in any major litigation or arbitration, or any lien
                  or
                  encumbrance is imposed on its
                  assets.

              

      

       

      
        	6.6.4	
                Borrower’s
                  guarantee to any other third party, which will have an adverse
                  effect on
                  its financial status and ability to perform its obligations under
                  this
                  Contract.

              

      

       

      
        	
                6.6.5

              	
                Borrower
                  enters into a contract which will have a material adverse effect
                  on its
                  operation and financial status. 

              

      

       

      
        	6.6.6	
                Borrower
                  or Guarantor (if any) stops its operation, its business terminates
                  or its
                  business license is revoked.

              

      

       

      
        	6.6.7	
                Borrower’s
                  legal representative or senior management has committed a criminal
                  offence.

              

      

       

      
        	
                6.6.8

              	
                Borrower
                  faces substantial hardship in managing its business or any other
                  event
                  which will have an adverse effect on the financial status or ability
                  of
                  the Borrower to repay the Loan.

              

      

       

      
        	
                6.6.9

              	
                Any
                  changes to the form of collateral under this Contract that may
                  have
                  adverse effect on Lender’s right shall be made upon Lender’s consent.
                  

              

      

       

      
        	7	
                Breach
                  of Contract

              

      

       

      
        	7.1	
                In
                  the event of the occurrence of any of the following events, Lender
                  has the
                  right to suspend the drawing of the proceeds of the Loan and require
                  repayment of the principal of the Loan partially or completely
                  before the
                  maturity date and demand that the Borrower repay the principal
                  of the Loan
                  and pay the interest hereunder. These are as
                  follows:

              

      

       

      
        	7.1.1	
                Borrower’s
                  representations and warranties in Section 4 are not true;
                  

              

      

      
         

        
          
            
            

          

          
            -7-

            
              

            

          

          
            
            

          

        

         

         

        
 

      

      
        	7.1.2	
                Borrower
                  is in breach of this Contract;

              

      

       

      
        	7.1.3	
                The
                  events set forth in Section 6.6 have occurred and Lender believes
                  that
                  such event will have a material adverse effect on its rights as
                  a
                  creditor; or

              

      

       

      
        	7.1.4	
                Borrower
                  has delayed its performance or is in breach of other contracts
                  entered
                  into between Borrower and Lender, and has not provided the Lender
                  with any
                  remedy upon notification by Lender.

              

      

       

      
        	7.2	
                In
                  the event that Borrower fails to repay the principal or interest
                  in full
                  in a timely fashion, or to use the proceeds of the Loan as set
                  forth in
                  this Contract, Lender has the right to use the overdue penalty
                  interest
                  rate and appropriate penalty interest rate to calculate the
                  interest.

              

      

       

      
        	7.3	
                In
                  the event that Borrower fails to repay the principal or interest
                  in full
                  in a timely fashion, Borrower shall be liable for the Lender’s expenses in
                  exercising its creditor’s rights, including litigation cost (arbitration
                  fee), costs of preservation of asset, costs of publication, enforcement
                  costs, legal fees, travel and other expenses.

              

      

       

      
        	7.4	
                the
                  interest of the Loan or avoids the repayment intentionally, Lender
                  has the
                  right to inform relevant government authority and to publish the
                  payment
                  notification in the news media. 

              

      

       

      
        	
                8

              	
                Dispute
                  Resolution

              

      

       

      Any
        dispute arising from or in connection with this Contract shall be resolved
        by
        the first method listed below:

       

      
        	 	
                1.

              	
                File
                  a lawsuit to the competent court in the place where Lender is located;
                  or
                  

              

      

       

      
        	 	
                2.

              	
                Submit
                  the disputes to ________arbitration committee for arbitration in
                  accordance with the currently effective arbitration rules of such
                  committee. The arbitral award is final and is legally binding upon
                  both
                  Parties. 

              

      

      
         

        
          
            
            

          

          
            -8-

            
              

            

          

          
            
            

          

        

         

         

        
 

      

      
        	
                9

              	
                Miscellaneous

              

      

       

      
        	9.1	
                This
                  Contract comes into effect upon both Parties’ execution of this
                  contract.

              

      

       

      
        	9.2	
                This
                  Contract is executed in four (4) counterparts. Each of the Parties
                  and
                  Guarantor shall keep one counterpart.

              

      

       

      IN
        WITNESS WHEREOF,
        the
        parties hereto have executed this Contract as of the day and year first set
        forth below.

      

      
         

        
          	March 31, 2006	 
	 	 
	Borrower (seal):	 Lender
                  (seal):
	 	 
	 	 
	Legal Representative
                  or
                  Authorized Person Responsible
                  Person or Authorized
                  Person
	 	 
	Xiaoan He	 Bank of
                  Communication
	 	 
	 	 
	(signature or
                  seal)	 (signature or
                  seal)

        

         

      

      
      

    

     

    
      
        
        

      

      
        -9-

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