Document:

EXHIBIT 4.5

                                WARRANT AGREEMENT

         Agreement  made  as  of January __,   2007  between  ChinaGrowth  North
Acquisition  Corporation,  a  company  organized  under  the laws of the  Cayman
Islands,  with  offices  at 1818  Canggong  Road,  Fengxian,  Shanghai  Chemical
Industry Park, Shanghai, China 201417 ("Company"), and American Stock Transfer &
Trust Company,  a New York  corporation,  with offices at 59 Maiden Lane,  Plaza
Level, New York, New York 10038 ("Warrant Agent").

         WHEREAS,   the  Company  is  engaged  in  a  public  offering  ("Public
Offering") of Units  ("Units") and, in connection  therewith,  has determined to
issue and deliver up to (i) 5,175,000 Warrants ("Public Warrants") to the public
investors,  and  (ii)  315,000  Warrants  to  Morgan  Joseph  & Co.  Inc.  ("the
"Representative")  or its designees  ("Representative's  Warrants" and, together
with the Public Warrants, the "Warrants"),  each of such Warrants evidencing the
right of the holder thereof to purchase one Ordinary Share,  par value $.001 per
share ("Ordinary Share").

         WHEREAS,  prior to the closing of the Public  Offering,  certain of the
Company's officers and directors have collectively agreed to purchase a combined
total of  900,000  Warrants  at a price  of $1.20  per  Warrant  (the  "Founding
Director  Warrants"),  each of such Founding  Director  Warrants  evidencing the
right of the holder thereof to purchase one Ordinary Share;

         WHEREAS,  the  Company  has  filed  with the  Securities  and  Exchange
Commission a Registration  Statement on Form F-1, No. 333-134458  ("Registration
Statement"), for the registration,  under the Securities Act of 1933, as amended
("Act"),  of, among other  securities,  the  Warrants  and the  Ordinary  Shares
issuable upon exercise of the Warrants; and

         WHEREAS,  the Company desires the Warrant Agent to act on behalf of the
Company,  and the  Warrant  Agent is willing to so act, in  connection  with the
issuance,  registration,  transfer,  exchange,  redemption  and  exercise of the
Warrants; and

         WHEREAS,  the Company desires to provide for the form and provisions of
the Warrants,  the terms upon which they shall be issued and exercised,  and the
respective  rights,  limitation of rights,  and  immunities of the Company,  the
Warrant Agent, and the holders of the Warrants; and

         WHEREAS,  all acts and things  have been done and  performed  which are
necessary  to make the  Warrants,  when  executed  on behalf of the  Company and
countersigned  by or on behalf of the Warrant  Agent,  as provided  herein,  the
valid,  binding and legal  obligations  of the  Company,  and to  authorize  the
execution and delivery of this Agreement.

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         NOW,  THEREFORE,  in  consideration  of the  mutual  agreements  herein
contained, the parties hereto agree as follows:

1.  APPOINTMENT OF WARRANT AGENT.  The Company hereby appoints the Warrant Agent
to act as agent for the Company for the  Warrants,  and the Warrant Agent hereby
accepts such  appointment  and agrees to perform the same in accordance with the
terms and conditions set forth in this Agreement.

2.  WARRANTS.

         2.1. FORM OF WARRANT.  Each Warrant shall be issued in registered  form
only, shall be in substantially the form of Exhibit A hereto,  the provisions of
which are  incorporated  herein  and shall be signed  by, or bear the  facsimile
signature  of,  the  Chairman  of the Board or Chief  Executive  Officer  of the
Company  and shall bear a  facsimile  of the  Company's  seal.  In the event the
person whose  facsimile  signature  has been placed upon any Warrant  shall have
ceased to serve in the capacity in which such person  signed the Warrant  before
such  Warrant is issued,  it may be issued  with the same effect as if he or she
had not ceased to be such at the date of issuance.

         2.2. EFFECT OF COUNTERSIGNATURE.  Unless and until countersigned by the
Warrant Agent pursuant to this  Agreement,  a Warrant shall be invalid and of no
effect and may not be exercised by the holder thereof.

         2.3. REGISTRATION.

                  2.3.1.  WARRANT  REGISTER.  The Warrant  Agent shall  maintain
books ("Warrant  Register") for the  registration  of original  issuance and the
registration  of transfer  of the  Warrants.  Upon the  initial  issuance of the
Warrants,  the Warrant  Agent shall issue and register the Warrants in the names
of the  respective  holders  thereof  in such  denominations  and  otherwise  in
accordance with instructions delivered to the Warrant Agent by the Company.

                  2.3.2.   REGISTERED  HOLDER.  Prior  to  due  presentment  for
registration  of transfer of any Warrant,  the Company and the Warrant Agent may
deem and treat the person in whose name such Warrant  shall be  registered  upon
the  Warrant  Register  ("registered  holder"),  as the  absolute  owner of such
Warrant and of each Warrant represented thereby (notwithstanding any notation of
ownership or other writing on the Warrant  Certificate made by anyone other than
the Company or the Warrant Agent), for the purpose of any exercise thereof,  and
for all other  purposes,  and neither the Company nor the Warrant Agent shall be
affected by any notice to the contrary.

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         2.4.  DETACHABILITY  OF WARRANTS.  The securities  comprising the Units
will not be separately  transferable  until 90 days after the date hereof unless
the Representative informs the Company of its decision to allow earlier separate
trading,  but in no event will the Representative  allow separate trading of the
securities comprising the Units until the Company files a Current Report on Form
6-K which  includes  an audited  balance  sheet  reflecting  the  receipt by the
Company of the gross  proceeds of the Public  Offering  including  the  proceeds
received by the Company  from the exercise of the  Underwriter's  over-allotment
option,  if the  over-allotment  option is exercised  prior to the filing of the
Form 6-K, and the Underwriter's over-allotment option has either expired or been
exercised in full. The Company shall file a separate  Current Report on Form 6-K
if the  over-allotment  option  is  exercised  in  whole  or in part  after  the
consummation  of the offering  and shall  include in this Form 6-K, or amendment
thereto,   or  in  a  subsequent  Form  6-K,   information   indicating  if  the
representative  has allowed  separate  trading of Ordinary  Shares and  Warrants
prior to the 90th day after the date of this prospectus.

         2.5  WARRANTS  AND  REPRESENTATIVE'S   WARRANTS.  The  Representative's
Warrants  shall  have  the same  terms  and be in the  same  form as the  Public
Warrants.

3.       TERMS AND EXERCISE OF WARRANTS

         3.1.  WARRANT PRICE.  Each Warrant  shall,  when  countersigned  by the
Warrant Agent, entitle the registered holder thereof,  subject to the provisions
of such  Public  Warrant and of this  Warrant  Agreement,  to purchase  from the
Company the number of Ordinary Shares stated therein,  at the price of $6.00 per
whole share,  subject to the adjustments provided in Section 4 hereof and in the
last sentence of this Section 3.1. Each of the Representative's  Warrants shall,
when countersigned by the Warrant Agent,  entitle the registered holder thereof,
subject to the provisions of such Representative's  Warrants and of this Warrant
Agreement,  to purchase  from the Company the number of Ordinary  Shares  stated
therein,  at the price of $6.00  per whole  share,  subject  to the  adjustments
provided in Section 4 hereof.  The term "Warrant  Price" as used in this Warrant
Agreement  refers  to the  price  per  share at  which  Ordinary  Shares  may be
purchased at the time a Warrant is exercised;  provided that any such  reduction
shall be identical in percentage terms among all of the Warrants.

         3.2.  DURATION OF WARRANTS.  A Warrant may be exercised only during the
period  ("Exercise  Period")  commencing on the later of (i) the consummation by
the Company of a merger,  share capital  exchange,  asset  acquisition  or other
similar business combination  ("Business  Combination") (as described more fully
in  the  Company's  Registration  Statement)  and  (ii)  __________,  2008,  and
terminating  at 5:00  p.m.,  New York City time on the  earlier  to occur of (i)
___________,  2011 or (ii) the date  fixed for  redemption  of the  Warrants  as
provided in Section 6 of this Agreement ("Expiration Date"). Except with

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respect to the right to receive the Redemption  Price (as set forth in Section 6
hereunder),  each Warrant not exercised on or before the  Expiration  Date shall
become void, and all rights  thereunder and all rights in respect  thereof under
this  Agreement  shall cease at the close of business  on the  Expiration  Date;
provided that any such extension shall be identical in duration among all of the
Warrants.  Notwithstanding  the  foregoing,  a Warrant  can  expire  unexercised
regardless  of whether a  registration  statement is current  under the Act with
respect to the Common Stock issuable upon exercise of the Warrants.

         3.3. EXERCISE OF WARRANTS.

                  3.3.1.  PAYMENT.  Subject to the  provisions  of  the  Warrant
and this Warrant Agreement,  a Warrant, when countersigned by the Warrant Agent,
may be exercised by the  registered  holder thereof by  surrendering  it, at the
office of the Warrant Agent, or at the office of its successor as Warrant Agent,
in the Borough of Manhattan,  City and State of New York, with the  subscription
form,  as set forth in the Warrant,  duly  executed,  and by paying in full,  in
lawful money of the United States,  in good  certified  check or good bank draft
payable to the order of the Company (or as otherwise  agreed to by the Company),
the  Warrant  Price for each full  Ordinary  Share as to which  the  Warrant  is
exercised and any and all applicable  taxes due in connection  with the exercise
of the  Warrant,  the exchange of the Warrant for the  Ordinary  Share,  and the
issuance of the Ordinary Shares.

                  3.3.2. ISSUANCE OF CERTIFICATES.  As soon as practicable after
the  exercise of any Warrant  and the  clearance  of the funds in payment of the
Warrant Price, the Company shall issue to the registered  holder of such Warrant
a certificate or certificates for the number of full Ordinary Shares to which he
is entitled,  registered in such name or names as may be directed by him, her or
it,  and  if  such  Warrant  shall  not  have  been  exercised  in  full,  a new
countersigned  Warrant for the number of shares as to which such  Warrant  shall
not have been exercised. Notwithstanding the foregoing, the Company shall not be
obligated to deliver any securities pursuant to the exercise of a Warrant unless
a registration  statement  under the Act with respect to the Ordinary  Shares is
effective.  Warrants  may not be  exercised  by, or  securities  issued  to, any
registered  holder in any state in which such exercise would be unlawful.  In no
event will the registered  holder of a Warrant be entitled to receive a net-cash
settlement,  shares of Common Stock or other  consideration  in lieu of physical
settlement  in shares of Common  Stock,  regardless  of whether the Common Stock
underlying  the Warrants is  registered  pursuant to an  effective  registration
statement.

                  3.3.3.  VALID  ISSUANCE.  All Ordinary  Shares issued upon the
proper  exercise of a Warrant in conformity with this Agreement shall be validly
issued, fully paid and nonassessable.

                  3.3.4.  DATE OF  ISSUANCE.  Each person in whose name any such
certificate  for  Ordinary  Shares is issued shall for all purposes be deemed to
have become the holder of record of such shares on the date on which the Warrant
was surrendered  and payment of the Warrant Price was made,  irrespective of the
date of delivery of such certificate, except that, if the date of such surrender
and payment is a date when the share  transfer  books of the Company are closed,
such  person  shall be deemed to have  become the  holder of such  shares at the
close of business on the next  succeeding date on which the share transfer books
are open.

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4. ADJUSTMENTS.

         4.1. SHARE DIVIDENDS - SPLIT-UPS. If after the date hereof, and subject
to the  provisions  of Section  4.6 below,  the number of  outstanding  Ordinary
Shares is  increased by a share  dividend  payable in Ordinary  Shares,  or by a
split-up of Ordinary Shares, or other similar event, then, on the effective date
of such share dividend, split-up or similar event, the number of Ordinary Shares
issuable on exercise of each Warrant  shall be increased in  proportion  to such
increase in outstanding Ordinary Shares.

         4.2.  AGGREGATION OF SHARES.  If after the date hereof,  and subject to
the  provisions  of Section 4.6, the number of  outstanding  Ordinary  Shares is
decreased   by  a   consolidation,   combination,   reverse   share   split   or
reclassification  of  Ordinary  Shares  or other  similar  event,  then,  on the
effective  date  of  such  consolidation,   combination,  reverse  share  split,
reclassification  or similar event,  the number of Ordinary  Shares  issuable on
exercise of each Warrant  shall be decreased in  proportion  to such decrease in
outstanding Ordinary Shares.

         4.3  ADJUSTMENTS  IN EXERCISE  PRICE.  Whenever  the number of Ordinary
Shares purchasable upon the exercise of the Warrants is adjusted, as provided in
Section 4.1 and 4.2 above,  the Warrant  Price shall be adjusted (to the nearest
cent) by multiplying such Warrant Price  immediately prior to such adjustment by
a fraction  (x) the  numerator  of which shall be the number of Ordinary  Shares
purchasable  upon  the  exercise  of the  Warrants  immediately  prior  to  such
adjustment,  and (y) the  denominator  of which  shall be the number of Ordinary
Shares so purchasable immediately thereafter.

         4.4. REPLACEMENT OF SECURITIES UPON REORGANIZATION, ETC. In case of any
reclassification  or  reorganization  of the outstanding  Ordinary Shares (other
than a change  covered by Section 4.1 or 4.2 hereof or that  solely  affects the
par  value  of  such  Ordinary  Shares),  or  in  the  case  of  any  merger  or
consolidation  of the Company  with or into  another  corporation  (other than a
consolidation  or merger in which the Company is the continuing  corporation and
that  does  not  result  in  any   reclassification  or  reorganization  of  the
outstanding  Ordinary  Shares),  or in the  case of any  sale or  conveyance  to
another  corporation or entity of the assets or other property of the Company as
an entirety or substantially as an entirety in connection with which the Company
is dissolved,  the Warrant  holders shall  thereafter have the right to purchase
and receive,  upon the basis and upon the terms and conditions  specified in the
Warrants  and in  lieu  of  the  Ordinary  Shares  of  the  Company  immediately
theretofore   purchasable  and  receivable  upon  the  exercise  of  the  rights
represented  thereby,  the kind and  amount  of shares  or other  securities  or
property (including cash) receivable upon such reclassification, reorganization,
merger  or  consolidation,  or upon a  dissolution  following  any such  sale or
transfer, that the Warrant holder would have received if such Warrant holder had
exercised his, her or its Warrant(s) immediately prior to such event; and if any

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reclassification  also results in a change in Ordinary Shares covered by Section
4.1 or 4.2,  then such  adjustment  shall be made pursuant to Sections 4.1, 4.2,
4.3 and this  Section 4.4. The  provisions  of this Section 4.4 shall  similarly
apply   to   successive   reclassifications,    reorganizations,    mergers   or
consolidations, sales or other transfers.

         4.5.  NOTICES OF  CHANGES IN  WARRANT.  Upon  every  adjustment  of the
Warrant Price or the number of shares  issuable upon exercise of a Warrant,  the
Company shall give written  notice  thereof to the Warrant  Agent,  which notice
shall state the Warrant Price resulting from such adjustment and the increase or
decrease,  if any,  in the number of shares  purchasable  at such price upon the
exercise  of a  Warrant,  setting  forth in  reasonable  detail  the  method  of
calculation  and the facts  upon  which  such  calculation  is  based.  Upon the
occurrence of any event specified in Sections 4.1, 4.2, 4.3 or 4.4, then, in any
such event, the Company shall give written notice to each Warrant holder, at the
last  address set forth for such holder in the warrant  register,  of the record
date or the  effective  date of the event.  Failure to give such notice,  or any
defect therein, shall not affect the legality or validity of such event.

         4.6. NO FRACTIONAL SHARES.  Notwithstanding  any provision contained in
this Warrant  Agreement to the contrary,  the Company shall not issue fractional
shares upon exercise of Warrants.  If, by reason of any adjustment made pursuant
to this  Section  4, the  holder  of any  Warrant  would be  entitled,  upon the
exercise of such  Warrant,  to receive a  fractional  interest  in a share,  the
Company  shall,  upon such  exercise,  round up to the nearest  whole number the
number of the Ordinary Shares to be issued to the Warrant holder.

         4.7. FORM OF WARRANT.  The form of Warrant need not be changed  because
of any  adjustment  pursuant to this Section 4, and  Warrants  issued after such
adjustment  may state the same Warrant Price and the same number of shares as is
stated in the Warrants initially issued pursuant to this Agreement. However, the
Company  may at any time in its sole  discretion  make any change in the form of
Warrant  that the  Company  may deem  appropriate  and that does not  affect the
substance thereof,  and any Warrant thereafter issued or countersigned,  whether
in exchange or substitution for an outstanding  Warrant or otherwise,  may be in
the form as so changed.

5.       TRANSFER AND EXCHANGE OF WARRANTS.

         5.1.  REGISTRATION  OF TRANSFER.  The Warrant Agent shall  register the
transfer,  from  time to time,  of any  outstanding  Warrant  upon  the  Warrant
Register,  upon surrender of such Warrant for transfer,  properly  endorsed with
signatures properly  guaranteed and accompanied by appropriate  instructions for
transfer.  Upon any such transfer, a new Warrant representing an equal aggregate
number of Warrants shall be issued and the old Warrant shall be cancelled by the
Warrant Agent. The Warrants so cancelled shall be delivered by the Warrant Agent
to the Company from time to time upon request.

<PAGE>

         5.2.  PROCEDURE FOR SURRENDER OF WARRANTS.  Warrants may be surrendered
to the Warrant Agent,  together with a written request for exchange or transfer,
and thereupon the Warrant Agent shall issue in exchange therefor one or more new
Warrants as requested by the registered  holder of the Warrants so  surrendered,
representing an equal aggregate number of Warrants;  provided,  however, that in
the event that a Warrant  surrendered  for transfer bears a restrictive  legend,
the  Warrant  Agent  shall not cancel  such  Warrant  and issue new  Warrants in
exchange therefor until the Warrant Agent has received an opinion of counsel for
the Company  stating that such transfer may be made and  indicating  whether the
new Warrants must also bear a restrictive legend.

         5.3.  FRACTIONAL  WARRANTS.  The Warrant Agent shall not be required to
effect any  registration  of  transfer  or  exchange  which  will  result in the
issuance of a warrant certificate for a fraction of a warrant.

         5.4. SERVICE CHARGES.  No service charge shall be made for any exchange
or registration of transfer of Warrants.

         5.5.  WARRANT  EXECUTION  AND  COUNTERSIGNATURE.  The Warrant  Agent is
hereby authorized to countersign and to deliver, in accordance with the terms of
this Agreement, the Warrants required to be issued pursuant to the provisions of
this Section 5, and the Company,  whenever  required by the Warrant Agent,  will
supply the Warrant  Agent with  Warrants  duly executed on behalf of the Company
for such purpose.

6. REDEMPTION.

         6.1.  REDEMPTION.  Subject to Section 6.4 hereof,  not less than all of
the outstanding  Warrants may be redeemed,  at the option of the Company, at any
time after they become exercisable and prior to their expiration,  at the office
of the Warrant Agent,  upon the notice  referred to in Section 6.2, at the price
of $.01 per Warrant ("Redemption Price"),  provided that the last sales price of
the Ordinary  Shares has been at least $11.50 per share,  on each of twenty (20)
trading  days  within any thirty  (30)  trading  day period  ending on the third
business  day  prior  to the  date on  which  notice  of  redemption  is  given.
Notwithstanding  the foregoing,  the  registration  statement must be current in
order for the Company to exercise its redemption rights pursuant to this Section
6. The  provisions  of this Section 6.1 may not be modified,  amended or deleted
without the prior written consent of the Representative.

         6.2.  DATE FIXED  FOR,  AND  NOTICE  OF,  REDEMPTION.  In the event the
Company shall elect to convert all of the Warrants, the Company shall fix a date
for the  redemption.  Notice of redemption  shall be mailed by first class mail,
postage  prepaid,  by the  Company not less than 30 days prior to the date fixed
for redemption to the registered holders of the Warrants to be redeemed at their
last addresses as they shall

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appear  on the  registration  books.  Any  notice  mailed in the  manner  herein
provided shall be  conclusively  presumed to have been duly given whether or not
the registered holder received such notice.

         6.3.  EXERCISE  AFTER  NOTICE  OF  REDEMPTION.   The  Warrants  may  be
exercised, for cash at any time after notice of redemption shall have been given
by the  Company  pursuant  to Section  6.2 hereof and prior to the time and date
fixed for redemption. On and after the redemption date, the record holder of the
Warrants shall have no further  rights except to receive,  upon surrender of the
Warrants, the Redemption Price.

         6.4  OUTSTANDING  WARRANTS  ONLY.  The  Company  understands  that  the
redemption  rights  provided  for by this  Section 6 apply  only to  outstanding
Warrants.  To the  extent a person  holds  rights  to  purchase  Warrants,  such
purchase  rights shall not be  extinguished  by redemption.  However,  once such
purchase rights are exercised,  the Company may redeem  the Warrants issued upon
such exercise provided that the criteria for redemption is met.  Notwithstanding
the  foregoing,  the Founding  Director  Warrants  will not be  transferable  or
saleable by the officer and directors  holding such Founding  Director  Warrants
until the Company completes a merger, share capital exchange,  asset acquisition
or other similar  business  combination  with an operating  business and will be
non-redeemable so long as such officers and directors hold the Founding Director
Warrants.  The  provisions  of this Section 6.4 may not be modified,  amended or
deleted without the prior written consent of the Representative.

7. OTHER PROVISIONS RELATING TO RIGHTS OF HOLDERS OF WARRANTS.

         7.1.  NO  RIGHTS  AS  SHAREHOLDER.  A  Warrant  does  not  entitle  the
registered  holder thereof to any of the rights of a shareholder of the Company,
including,  without  limitation,  the  right  to  receive  dividends,  or  other
distributions,  exercise  any  preemptive  rights  to vote or to  consent  or to
receive notice as shareholders in respect of the meetings of shareholders or the
election of directors of the Company or any other matter.

         7.2. LOST, STOLEN,  MUTILATED, OR DESTROYED WARRANTS. If any Warrant is
lost, stolen,  mutilated, or destroyed, the Company and the Warrant Agent may on
such terms as to indemnity or otherwise as they may in their  discretion  impose
(which  shall,  in the  case  of a  mutilated  Warrant,  include  the  surrender
thereof),  issue a new  Warrant  of like  denomination,  tenor,  and date as the
Warrant so lost,  stolen,  mutilated,  or destroyed.  Any such new Warrant shall
constitute a substitute  contractual  obligation of the Company,  whether or not
the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time
enforceable by anyone.

         7.3.  RESERVATION  OF ORDINARY  SHARES.  The Company shall at all times
reserve and keep  available a number of its  authorized  but  unissued  Ordinary
Shares that will be sufficient to permit the exercise in full

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of all outstanding Warrants issued pursuant to this Agreement.

         7.4.  REGISTRATION OF ORDINARY SHARES. The Company agrees that prior to
the commencement of the Exercise  Period,  it shall file with the Securities and
Exchange Commission a post-effective amendment to the Registration Statement, or
a new registration  statement,  for the registration,  under the Act, of, and it
shall take such action as is necessary  to qualify for sale,  in those states in
which the Warrants were initially  offered by the Company,  the Ordinary  Shares
issuable upon exercise of the Warrants. In either case, the Company will use its
best  efforts  to  cause  the  same to  become  effective  and to  maintain  the
effectiveness  of  such  registration  statement  until  the  expiration  of the
Warrants in accordance with the provisions of this Agreement.  In addition,  the
Company agrees to use its reasonable  efforts to register such securities  under
the blue sky laws of the states of residence of the exercising  Warrant  holders
to the extent an exemption is not available.  The provisions of this Section 7.4
may not be modified, amended or deleted without the prior written consent of the
Representative.  Notwithstanding the foregoing, a Warrant can expire unexercised
regardless  of whether a  registration  statement is current  under the Act with
respect to the Common Stock issuable upon exercise of the Warrants.  In no event
will the  registered  holder of a Warrant  be  entitled  to  receive a  net-cash
settlement of shares of Common Stock or other  consideration  as a result of the
Company's non-compliance with this Section 7.4.

8. CONCERNING THE WARRANT AGENT AND OTHER MATTERS.

         8.1.  PAYMENT OF TAXES. The Company will from time to time promptly pay
all taxes and charges that may be imposed upon the Company or the Warrant  Agent
in respect of the  issuance or delivery of Ordinary  Shares upon the exercise of
Warrants,  but the Company  shall not be obligated to pay any transfer  taxes in
respect of the Warrants or such shares.

         8.2. RESIGNATION, CONSOLIDATION, OR MERGER OF WARRANT AGENT.

                  8.2.1.  APPOINTMENT OF SUCCESSOR  WARRANT  AGENT.  The Warrant
Agent, or any successor to it hereafter appointed,  may resign its duties and be
discharged from all further duties and liabilities  hereunder after giving sixty
(60) days' notice in writing to the Company.  If the office of the Warrant Agent
becomes  vacant by  resignation  or incapacity to act or otherwise,  the Company
shall  appoint  in writing a  successor  Warrant  Agent in place of the  Warrant
Agent. If the Company shall fail to make such appointment  within a period of 30
days after it has been notified in writing of such  resignation or incapacity by
the Warrant Agent or by the holder of the Warrant (who shall,  with such notice,
submit  his  Warrant  for  inspection  by the  Company),  then the holder of any
Warrant may apply to the  Supreme  Court of the State of New York for the County
of New York for the  appointment  of a successor  Warrant Agent at the Company's
cost. Any successor  Warrant Agent,  whether appointed by the Company or by such
court, shall be a corporation organized and existing under the laws of the State
of New York, in good standing and having its principal  office in the Borough of
Manhattan,  City and  State of New  York,  and  authorized  under  such  laws to
exercise  corporate  trust powers and subject to  supervision  or examination by
federal or state authority. After appointment, any successor Warrant Agent shall
be vested  with all the  authority,  powers,  rights,  immunities,  duties,  and
obligations of its  predecessor  Warrant Agent with like effect as if originally
named as Warrant Agent  hereunder,  without any further act or deed;  but if for
any reason it becomes  necessary or

<PAGE>

appropriate,  the  predecessor  Warrant Agent shall execute and deliver,  at the
expense of the Company,  an instrument  transferring  to such successor  Warrant
Agent all the authority,  powers,  and rights of such predecessor  Warrant Agent
hereunder;  and upon request of any  successor  Warrant  Agent the Company shall
make, execute,  acknowledge,  and deliver any and all instruments in writing for
more fully and effectually  vesting in and confirming to such successor  Warrant
Agent all such authority, powers, rights, immunities, duties, and obligations.

                  8.2.2.  NOTICE  OF  SUCCESSOR  WARRANT  AGENT.  In the event a
successor  Warrant  Agent  shall be  appointed,  the  Company  shall give notice
thereof to the predecessor Warrant Agent and the transfer agent for the Ordinary
Shares not later than the effective date of any such appointment.

                  8.2.3.   MERGER  OR   CONSOLIDATION   OF  WARRANT  AGENT.  Any
corporation  into which the Warrant  Agent may be merged or with which it may be
consolidated or any corporation  resulting from any merger or  consolidation  to
which the Warrant  Agent shall be a party shall be the  successor  Warrant Agent
under this Agreement without any further act.

         8.3. FEES AND EXPENSES OF WARRANT AGENT.

                  8.3.1.  REMUNERATION.  The  Company  agrees to pay the Warrant
Agent  reasonable  remuneration for its services as such Warrant Agent hereunder
and will reimburse the Warrant Agent upon demand for all  expenditures  that the
Warrant Agent may reasonably incur in the execution of its duties hereunder.

                  8.3.2.  FURTHER  ASSURANCES.  The  Company  agrees to perform,
execute,   acknowledge,  and  deliver  or  cause  to  be  performed,   executed,
acknowledged,  and delivered all such further and other acts,  instruments,  and
assurances  as may  reasonably be required by the Warrant Agent for the carrying
out or performing of the provisions of this Agreement.

         8.4. LIABILITY OF WARRANT AGENT.

                  8.4.1.   RELIANCE  ON  COMPANY  STATEMENT.   Whenever  in  the
performance of its duties under this Warrant Agreement,  the Warrant Agent shall
deem it necessary or desirable  that any fact or matter be proved or established
by the Company prior to taking or suffering any action  hereunder,  such fact or
matter  (unless  other  evidence  in  respect  thereof  be  herein  specifically
prescribed)  may be  deemed  to be  conclusively  proved  and  established  by a
statement signed by the Chief Executive  Officer or Chairman of the Board of the
Company and delivered to the Warrant Agent. The Warrant Agent may rely upon such
statement  for any action  taken or suffered in good faith by it pursuant to the
provisions of this Agreement.

<PAGE>

                  8.4.2. INDEMNITY.  The Warrant Agent shall be liable hereunder
only for its own negligence, willful misconduct or bad faith. The Company agrees
to  indemnify  the  Warrant  Agent  and  save it  harmless  against  any and all
liabilities,  including  judgments,  costs  and  reasonable  counsel  fees,  for
anything done or omitted by the Warrant Agent in the execution of this Agreement
except as a result of the Warrant Agent's negligence, willful misconduct, or bad
faith.

                  8.4.3.   EXCLUSIONS.   The   Warrant   Agent   shall  have  no
responsibility with respect to the validity of this Agreement or with respect to
the validity or execution of any Warrant (except its countersignature  thereof);
nor shall it be  responsible  for any breach by the  Company of any  covenant or
condition  contained  in this  Agreement  or in any  Warrant;  nor  shall  it be
responsible to make any  adjustments  required under the provisions of Section 4
hereof or responsible for the manner,  method,  or amount of any such adjustment
or the  ascertaining  of the  existence  of facts  that would  require  any such
adjustment;   nor  shall  it  by  any  act  hereunder  be  deemed  to  make  any
representation  or  warranty  as to  the  authorization  or  reservation  of any
Ordinary  Shares to be issued pursuant to this Agreement or any Warrant or as to
whether  any  Ordinary  Shares  will when  issued  be valid  and fully  paid and
nonassessable.

         8.5.  ACCEPTANCE OF AGENCY. The Warrant Agent hereby accepts the agency
established  by this Agreement and agrees to perform the same upon the terms and
conditions  herein set forth and among other things,  shall account  promptly to
the Company with respect to Warrants exercised and concurrently account for, and
pay to the Company, all moneys received by the Warrant Agent for the purchase of
Ordinary Shares through the exercise of Warrants.

9. MISCELLANEOUS PROVISIONS.

         9.1. SUCCESSORS.  All the covenants and provisions of this Agreement by
or for the benefit of the  Company or the Warrant  Agent shall bind and inure to
the benefit of their respective successors and assigns.

         9.2.  NOTICES.  Any  notice,  statement  or demand  authorized  by this
Warrant  Agreement to be given or made by the Warrant  Agent or by the holder of
any Warrant to or on the Company shall be  sufficiently  given when so delivered
if by hand or overnight delivery or if sent by certified mail or private courier
service  within  five  days  after  deposit  of such  notice,  postage  prepaid,
addressed  (until  another  address is filed in writing by the Company  with the
Warrant Agent), as follows:

<PAGE>

                           ChinaGrowth North Acquisition Corporation
                           1818 Canggong Road, Fengxian
                           Shanghai Chemical Industry Park
                           Shanghai, China 201417
                           Attn:    Michael Zhang, Chief Financial Officer

Any notice, statement or demand authorized by this Agreement to be given or made
by the holder of any Warrant or by the Company to or on the Warrant  Agent shall
be sufficiently  given when so delivered if by hand or overnight  delivery or if
sent by certified mail or private courier service within five days after deposit
of such notice,  postage  prepaid,  addressed (until another address is filed in
writing by the Warrant Agent with the Company), as follows:

                           American Stock Transfer & Trust Company
                           59 Maiden Lane
                           Plaza Level
                           New York, New York 10038
                           Attn:    Herb Lemmer, Vice President
                           Fax No.: 718-331-1852

with a copy in each case to:

                           DLA Piper US LLP
                           1251 Avenue of the Americas
                           New York, New York 10020-1104
                           Attn: William Haddad, Esq.
                           Fax No.: (212) 835-6001

and

                           Ellenoff Grossman & Schole LLP
                           370 Lexington Avenue
                           New York, New York 10017
                           Attn:    Douglas S. Ellenoff, Esq.
                           Fax No.: (212) 370-7889

and

                           Morgan Joseph & Co. Inc.
                           600 Fifth Avenue, 19th Floor
                           New York, New York 10020
                           Attn:    Dennis Galgano
                           Fax No.: (212) 218-3760

         9.3. APPLICABLE LAW. The validity,  interpretation,  and performance of
this Agreement and of the Warrants shall be governed in all respects by the laws
of the State of New York,  without  giving effect to conflicts of law principles
that  would  result  in the  application  of the  substantive  laws  of  another
jurisdiction.  The Company  hereby  agrees that any action,  proceeding or claim
against it arising  out of or  relating  in

<PAGE>

any way to this  Agreement  shall be brought  and  enforced in the courts of the
State of New York or the United States District Court for the Southern  District
of New York, and irrevocably  submits to such  jurisdiction,  which jurisdiction
shall be exclusive.  The Company  hereby waives any objection to such  exclusive
jurisdiction  and that such courts  represent an  inconvenience  forum. Any such
process or summons to be served upon the Company may be served by transmitting a
copy thereof by registered or certified mail, return receipt requested,  postage
prepaid,  addressed  to it at the address set forth in Section 9.2 hereof.  Such
mailing shall be deemed personal service and shall be legal and binding upon the
Company in any action, proceeding or claim.

         9.4.  PERSONS  HAVING  RIGHTS  UNDER  THIS  AGREEMENT.  Nothing in this
Agreement  expressed and nothing that may be implied from any of the  provisions
hereof is  intended,  or shall be  construed,  to confer  upon,  or give to, any
person or corporation  other than the parties hereto and the registered  holders
of the Warrants  and, for the purposes of Sections 6.1, 6.4, 7.4 and 9.2 hereof,
the  Representative,  any  right,  remedy,  or claim  under or by reason of this
Warrant  Agreement  or of any  covenant,  condition,  stipulation,  promise,  or
agreement  hereof.  The  Representative  shall  be  deemed  to be a  third-party
beneficiary  of this  Agreement  with respect to Sections  6.1, 6.4, 7.4 and 9.2
hereof.  All  covenants,  conditions,  stipulations,  promises,  and  agreements
contained in this Warrant  Agreement shall be for the sole and exclusive benefit
of the parties hereto (and the Representative  with respect to the Sections 6.1,
6.4, 7.4 and 9.2 hereof) and their  successors and assigns and of the registered
holders of the Warrants.

         9.5.  EXAMINATION  OF THE WARRANT  AGREEMENT.  A copy of this Agreement
shall be available at all reasonable times at the office of the Warrant Agent in
the Borough of  Manhattan,  City and State of New York,  for  inspection  by the
registered holder of any Warrant.  The Warrant Agent may require any such holder
to submit his Warrant for inspection by it.

         9.6.  COUNTERPARTS.  This  Agreement  may be  executed in any number of
counterparts and each of such  counterparts  shall for all purposes be deemed to
be an original,  and all such counterparts shall together constitute but one and
the same instrument.

         9.7.  EFFECT  OF  HEADINGS.   The  Section   headings  herein  are  for
convenience only and are not part of this Warrant Agreement and shall not affect
the interpretation thereof.

         9.8  AMENDMENTS.  This Warrant  Agreement may be amended by the parties
hereto without  consent of any  registered  holder for the purpose of curing any
ambiguity,  or of curing,  correcting or supplementing  any defective  provision
contained  herein or adding or changing  any other  provisions  with  respect to
matters or questions  arising  under this  Warrant  Agreement as the parties may
deem necessary or desirable and that the parties deem shall not adversely affect
the interest of the registered  holders.  All other

<PAGE>

modifications  or  amendments,  including  any amendment to increase the Warrant
Price or shorten the Exercise Period,  shall require the written consent of each
of the Company  and the  registered  holders of a majority  of then  outstanding
Warrants. Notwithstanding the foregoing, the Company may lower the Warrant Price
or extend the duration of the Exercise Period in accordance with Section 3.1 and
3.2, respectively, without such consent.

         IN WITNESS  WHEREOF,  this Warrant  Agreement has been duly executed by
the parties hereto as of the day and year first above written.

Attest:                               CHINAGROWTH NORTH
                                       ACQUISITION CORPORATION

                                      By:   ____________________________________
---------------------------
                                            Name:
                                            Title:

Attest:                               AMERICAN STOCK TRANSFER
                                       & TRUST COMPANY

                                      By:    ___________________________________
---------------------------
                                             Name:
                                             Title:EXHIBIT 10.1

                      INVESTMENT MANAGEMENT TRUST AGREEMENT

          This Agreement is made as of January __, 2007 by and between
ChinaGrowth North Acquisition Corporation (the "Company") and American Stock
Transfer & Trust Company ("Trustee").

          WHEREAS, the Company's Registration Statement on Form F-1, No. 333-
134458 ("Registration Statement"), for its initial public offering of
securities ("IPO") has been declared effective as of the date hereof by the
Securities and Exchange Commission ("Effective Date"); and

          WHEREAS, Morgan Joseph & Co. Inc. ("Morgan Joseph") is acting as the
representative of the underwriters in the IPO; and

          WHEREAS, as described in the Company's Registration Statement, and in
accordance with the Company's Articles and Memorandum of Association,
$34,200,000 of the net proceeds of the IPO and sale of founding director
warrants including $720,000 in deferred underwriter's discounts and commissions
($39,330,000 if the underwriters' over-allotment option is exercised in full)
will be delivered to the Trustee to be deposited and held in a trust account for
the benefit of the Company and the holders of the Company's Ordinary Shares
issued in the IPO and in the event the units are registered in Colorado,
pursuant to Section 11-51-302(6) of the Colorado Revised Statutes, a copy of
which statute is attached hereto and made a part hereof. The amount to be
delivered to the Trustee will be referred to herein as the "Property," the
shareholders for whose benefit the Trustee shall hold the Property will be
referred to as the "Public Shareholders," and the Public Shareholders and the
Company will be referred to together as the "Beneficiaries"); and

          WHEREAS, the Company and the Trustee desire to enter into this
Agreement to set forth the terms and conditions pursuant to which the Trustee
shall hold the Property.

          IT IS AGREED:

1. AGREEMENTS AND COVENANTS OF TRUSTEE. The Trustee hereby agrees and covenants
to:

          (a) Hold the Property in trust for the Beneficiaries in accordance
with the terms of this Agreement, including the terms of Section 11-51-302(6) of
the Colorado Statute, in a segregated trust account ("Trust Account")
established by the Trustee at a branch of JPMorgan Chase NY Bank selected by the
Trustee;

          (b) Manage, supervise and administer the Trust Account subject to the
terms and conditions set forth herein;

          (c) In a timely manner, upon the instruction of the Company, to invest
and reinvest the Property in any "Government Security" within the meaning of
Section 2(a)(16) of the Investment Company Act of 1940 with a maturity of 180
days or less, or in money market funds meeting certain conditions under Rule
2a-7 promulgated under the Investment Company Act of 1940, as amended;

          (d) Collect and receive, when due, all principal and income arising
from the Property, which shall become part of the "Property," as such term is
used herein;

          (e) Notify the Company and Morgan Joseph of all communications
received by it with respect to any Property requiring action by the Company;

          (f) Supply any necessary information or documents as may be requested
by the Company in connection with the Company's preparation of the tax returns
for the Trust Account;

          (g) Participate in any plan or proceeding for protecting or enforcing
any right or interest arising from the Property if, as and when instructed by
the Company and/or Morgan Joseph to do so;

<PAGE>

          (h) Render to the Company and to Morgan Joseph, and to such other
person as the Company may instruct, monthly written statements of the activities
of and amounts in the Trust Account reflecting all receipts and disbursements of
the Trust Account;

          (i) Upon written instructions from the Company, deliver to the
Company, on a quarterly basis, from the Property in the Trust Account, an amount
equal to the taxes payable by the Company, if any, relating to interest earned
on the Property; and

          (j) Commence liquidation of the Trust Account promptly after receipt
of and only in accordance with the terms of a letter ("Termination Letter"), in
a form substantially similar to that attached hereto as either Exhibit A or
Exhibit B, signed on behalf of the Company by its Chief Executive Officer or
Chairman of the Board, and complete the liquidation of the Trust Account and
distribute the Property in the Trust Account only as directed in the Termination
Letter and the other documents referred to therein; PROVIDED, HOWEVER, that in
the event that a Termination Letter has not been received by [DATE/18 MONTHS]
(or the date that is the six month anniversary of such date, in the event that a
letter of intent, agreement in principle or definitive agreement has been
executed prior to such date in connection with a Business Combination (as
defined in the Termination Letter attached hereto as Exhibit A) that has not
been consummated by [DATE/24 MONTHS]), the Trust Account shall be liquidated in
accordance with the procedures set forth in the Termination Letter attached as
Exhibit B to the shareholders of record on the record date; PROVIDED, FURTHER,
that the record date shall be within ten (10) days of [DATE/18 MONTHS] (or the
date that is the six month anniversary of such date, in the event that a letter
of intent, agreement in principle or definitive agreement has been executed
prior to such date in connection with a Business Combination that has not been
consummated by [DATE/24 MONTHS]), or as soon thereafter as is practicable.

2. AGREEMENTS AND COVENANTS OF THE COMPANY. The Company hereby agrees and
covenants to:

          (a) Give all instructions to the Trustee hereunder in writing, signed
by the Company's Chief Executive Officer or Chairman of the Board within five
days of the business combination or the applicable 18-month or 24-month period,
subject to applicable law. In addition, except with respect to its duties under
paragraph 1(j) above, the Trustee shall be entitled to rely on, and shall be
protected in relying on, any verbal or telephonic advice or instruction which it
in good faith believes to be given by any one of the persons authorized above to
give written instructions, provided that the Company shall promptly confirm such
instructions in writing;

          (b) Hold the Trustee harmless and indemnify the Trustee from and
against any and all expenses, including reasonable counsel fees and
disbursements, or loss suffered by the Trustee in connection with any action,
suit or other proceeding brought against the Trustee involving any claim, or in
connection with any claim or demand which in any way arises out of or relates to
this Agreement, the services of the Trustee hereunder, or the Property or any
income earned from investment of the Property, except for expenses and losses
resulting from the Trustee's gross negligence or willful misconduct. Promptly
after the receipt by the Trustee of notice of demand or claim or the
commencement of any action, suit or proceeding, pursuant to which the Trustee
intends to seek indemnification under this paragraph, it shall notify the
Company in writing of such claim (hereinafter referred to as the "Indemnified
Claim"). The Company shall have the right to conduct and manage the defense
against such Indemnified Claim, provided, that the Company shall obtain the
consent of the Trustee with respect to the selection of counsel, which consent
shall not be unreasonably withheld. The Trustee may participate in such action
with its own counsel at its own expense;

          (c) Pay the Trustee an initial acceptance fee of $1,000 and an annual
fee of $3,000 (it being expressly understood that the Property shall not be used
to pay such fee). The Company shall pay the Trustee the initial acceptance fee
and first year's fee at the consummation of the IPO and thereafter on the
anniversary of the Effective Date. The Trustee shall refund to the Company the
fee (on a pro rata basis) with respect to any period after the liquidation of
the Trust Fund. The Company shall not be responsible for any other fees or
charges of the Trustee except as may be provided in paragraph 2(b) hereof (it
being expressly understood that the Property shall not be used to make any
payments to the Trustee under such paragraph);

<PAGE>

          (d) Provide to the Trustee any letter of intent, agreement in
principle or definitive agreement that is executed prior to [DATE/18 MONTHS] in
connection with a Business Combination; and

          (e) In connection with any vote of the Company's shareholders
regarding a Business Combination, provide to the Trustee an affidavit or
certificate of a firm regularly engaged in the business of soliciting proxies
and tabulating shareholder votes (which firm may be the Trustee) verifying the
vote of the Company's shareholders regarding such Business Combination.

3. LIMITATIONS OF LIABILITY. The Trustee shall have no responsibility or
liability to:

          (a) Take any action with respect to the Property, other than as
directed in paragraph 1 hereof and the Trustee shall have no liability to any
party except for liability arising out of its own gross negligence or willful
misconduct;

          (b) Institute any proceeding for the collection of any principal and
income arising from, or institute, appear in or defend any proceeding of any
kind with respect to, any of the Property unless and until it shall have
received instructions from the Company given as provided herein to do so and the
Company shall have advanced or guaranteed to it funds sufficient to pay any
expenses incident thereto;

          (c) Change the investment of any Property, other than in compliance
with paragraph 1(c);

          (d) Refund any depreciation in principal of any Property;

          (e) Assume that the authority of any person designated by the Company
to give instructions hereunder shall not be continuing unless provided otherwise
in such designation, or unless the Company shall have delivered a written
revocation of such authority to the Trustee;

          (f) The other parties hereto or to anyone else for any action taken or
omitted by it, or any action suffered by it to be taken or omitted, in good
faith and in the exercise of its own best judgment, except for its gross
negligence or willful misconduct. The Trustee may rely conclusively and shall be
protected in acting upon any order, notice, demand, certificate, opinion or
advice of counsel (including counsel chosen by the Trustee), statement,
instrument, report or other paper or document (not only as to its due execution
and the validity and effectiveness of its provisions, but also as to the truth
and acceptability of any information therein contained) which is believed by the
Trustee, in good faith, to be genuine and to be signed or presented by the
proper person or persons. The Trustee shall not be bound by any notice or
demand, or any waiver, modification, termination or rescission of this agreement
or any of the terms hereof, unless evidenced by a written instrument delivered
to the Trustee signed by the proper party or parties and, if the duties or
rights of the Trustee are affected, unless it shall give its prior written
consent thereto;

          (g) Verify the correctness of the information set forth in the
Registration Statement or to confirm or assure that any acquisition made by the
Company or any other action taken by it is as contemplated by the Registration
Statement; and

          (h) Subject to the requirements of Section 1(i) of the Trust
Agreement, pay any taxes on behalf of the Trust Account to any governmental
entity or taxing authority.

4. TERMINATION. This Agreement shall terminate as follows:

          (a) If the Trustee gives written notice to the Company that it desires
to resign under this Agreement, the Company shall use its reasonable efforts to
locate a successor trustee. At such time that the Company notifies the Trustee
that a successor trustee has been appointed by the Company and has agreed to
become subject to the terms of this Agreement, the Trustee shall transfer the
management of the Trust Account to the successor trustee, including but not
limited to the transfer of copies of the reports and statements relating to the
Trust Account, whereupon this Agreement shall terminate; provided, however,
that, in the event that the Company does not locate a successor trustee within
ninety days of receipt of the resignation

<PAGE>

notice from the Trustee, the Trustee may submit an application to have the
Property deposited with the United States District Court for the Southern
District of New York and upon such deposit, the Trustee shall be immune from any
liability whatsoever that arises due to any actions or omissions to act by any
party after such deposit; or

          (b) At such time that the Trustee has completed the liquidation of the
Trust Account in accordance with the provisions of paragraph 1(j) hereof, and
distributed the Property in accordance with the provisions of the Termination
Letter, this Agreement shall terminate except with respect to Paragraph 2(b).

5. MISCELLANEOUS.

          (a) The Company and the Trustee each acknowledge that the Trustee will
follow the security procedures set forth below with respect to funds transferred
from the Trust Account. Upon receipt of written instructions, the Trustee will
confirm such instructions with an Authorized Individual at an Authorized
Telephone Number listed on the attached Exhibit C. The Company and the Trustee
will each restrict access to confidential information relating to such security
procedures to authorized persons. Each party must notify the other party
immediately if it has reason to believe unauthorized persons may have obtained
access to such information, or of any change in its authorized personnel. In
executing funds transfers, the Trustee will rely upon account numbers or other
identifying numbers of a beneficiary, beneficiary's bank or intermediary bank,
rather than names. The Trustee shall not be liable for any loss, liability or
expense resulting from any error in an account number or other identifying
number, provided it has accurately transmitted the numbers provided.

          (b) This Agreement shall be governed by and construed and enforced in
accordance with the laws of the State of New York, without giving effect to
conflict of laws. It may be executed in several counterparts, each one of which
shall constitute an original, and together shall constitute but one instrument.

          (c) This Agreement contains the entire agreement and understanding of
the parties hereto with respect to the subject matter hereof. This Agreement or
any provision hereof may only be changed, amended or modified by a writing
signed by each of the parties hereto; provided, however, that no such change,
amendment or modification may be made without the prior written consent of
Morgan Joseph. As to any claim, cross-claim or counterclaim in any way relating
to this Agreement, each party waives the right to trial by jury.

          (d) The parties hereto consent to the jurisdiction and venue of any
state or federal court located in the City of New York for purposes of resolving
any disputes hereunder.

          (e) Any notice, consent or request to be given in connection with any
of the terms or provisions of this Agreement shall be in writing and shall be
sent by express mail or similar private courier service, by certified mail
(return receipt requested), by hand delivery or by facsimile transmission:

if to the Trustee, to:

American Stock Transfer
& Trust Company
59 Maiden Lane
Plaza Level
New York, New York 10038
Attn: Herb Lemmer, Vice President
Fax No.: 718-331-1852

if to the Company, to:

ChinaGrowth North Acquisition Corporation
1818 Canggong Road, Fengxian
Shanghai Chemical Industry Park

<PAGE>

Shanghai, China 201417
Attn: Michael Zhang, Chief Financial Officer
Fax No.: (86) 5744-8338

in either case with a copy to:

Ellenoff Grossman & Schole LLP
370 Lexington Avenue, 19th Floor
New York, New York 10017
Attn: Douglas S. Ellenoff, Esq.
Fax No.: (212) 370-7889

and

Morgan Joseph & Co. Inc.
600 Fifth Avenue, 19th Floor
New York, New York 10020
Attn: Dennis Galgano
Fax No.: (212) 218-3760

and

DLA Piper US LLP
1251 Avenue of the Americas
New York, New York 10020-1104
Attn: Bill Haddad, Esq.
Fax No.: (212) 835-6001

          (f) This Agreement may not be assigned by the Trustee without the
prior written consent of the Company and Morgan Joseph.

          (g) Each of the Trustee and the Company hereby represents that it has
the full right and power and has been duly authorized to enter into this
Agreement and to perform its respective obligations as contemplated hereunder.
The Trustee acknowledges and agrees that it shall not make any claims or proceed
against the Trust Account, including by way of set-off, and shall not be
entitled to any funds in the Trust Account under any circumstance.

<PAGE>

 IN WITNESS WHEREOF, the parties have duly executed this Investment Management
Trust Agreement as of the date first written above.

                               AMERICAN STOCK TRANSFER & TRUST
                                COMPANY, as Trustee
                               By:
                                    --------------------------------------------
                                    Name:
                                    Title:

                               CHINAGROWTH NORTH ACQUISITION CORPORATION
                               By:
                                    --------------------------------------------
                                    Name:
                                    Title:

<PAGE>

EXHIBIT A
                             [LETTERHEAD OF COMPANY]
[INSERT DATE]
American Stock Transfer
  & Trust Company
59 Maiden Lane
Plaza Level
New York, New York 10038
Attn: Herb Lemmer

              Re:  TRUST ACCOUNT NO. [              ] TERMINATION LETTER
Gentlemen:

          Pursuant to paragraph 1(j) of the Investment Management Trust
Agreement between ChinaGrowth North Acquisition Corporation ("Company") and
American Stock Transfer & Trust Company ("Trustee"), dated as of ________, 200_
("Trust Agreement"), this is to advise you that the Company has entered into an
agreement ("Business Agreement") with _____________________ ("Target Business")
to consummate a business combination with Target Business ("Business
Combination") on or about [insert date]. The Company shall notify you at least
48 hours in advance of the actual date of the consummation of the Business
Combination ("Consummation Date").

          In accordance with paragraph ___ of the Amended and Restated Articles
and Memorandum of Association of the Company, the Business Combination has been
approved by the shareholders of the Company and by the Public Shareholders
holding a majority of the IPO Shares, and Public Shareholders holding less than
20% of the IPO Shares have voted against the Business Combination and given
notice of exercise of their conversion rights described in paragraph __ of the
Amended and Restated Articles and Memorandum of Association of the Company.
Pursuant to Section 2(e) of the Trust Agreement, we are providing you with [an
affidavit][a certificate] of _________, which verifies the vote of the Company's
shareholders in connection with the Business Combination. In accordance with the
terms of the Trust Agreement, we hereby authorize you to commence liquidation of
the Trust Account to the effect that, on the Consummation Date, all of funds
held in the Trust Account will be immediately available for transfer to the
account or accounts that the Company shall direct on the Consummation Date.

          On the Consummation Date (i) counsel for the Company shall deliver to
you written notification that (a) the Business Combination has been consummated
and (b) the provisions of Section 11-51-302(6) and Rule 51-3.4 of the Colorado
Statute have been met, (ii) the Company shall deliver to you written
instructions with respect to the transfer of the funds held in the Trust Account
("Instruction Letter") and (iii) Representatives shall deliver to you written
instructions for delivery of the deferred discount to the Representative. You
are hereby directed and authorized to transfer the funds held in the Trust
immediately upon your receipt of written notice from counsel and the Instruction
Letter, (a) to public stockholders who exercised their conversion rights in
connection with the consummation of the Business combination, in an amount equal
to their pro rata Share of the amounts in Trust as of two business days prior to
the Consummation Date (including the deferred discount and any income actually
received on the Trust balance and held in Trust, but less an amount equal to
estimated taxes that are or will be due as such income at an assumed rate of
40%); (b) to the Representative in an amount equal to the deferred discount as
so directed by them; and (c) the remainder in accordance with the terms of the
Instruction Letter. In the event that certain deposits held in the Trust Account
may not be liquidated by the Consummation Date without penalty, you will notify
the Company of the same and the Company shall direct you as to whether such
funds should remain in the Trust Account and distributed after the Consummation
Date to the Company. Upon the distribution of all the funds in the Trust Account
pursuant to the terms hereof, the Trust Agreement shall be terminated.

          In the event that the Business Combination is not consummated on the
Consummation Date described in the notice thereof and we have not notified you
on or before the original Consummation Date of a new Consummation Date, then the
funds held in the Trust Account shall be reinvested as provided in the Trust
Agreement on the business day immediately following the Consummation Date as set
forth in the notice.

<PAGE>

                                    Very truly yours,

                                    CHINAGROWTH NORTH
                                    ACQUISITION CORPORATION

                                    By:
                                         -------------------------------------
                                         Name:
                                         Title:

                                     AFFIRMED:

                                         Global Vestor Capital Partners LLC

                                         -------------------------------------
                                         Name:
                                         Title:

                                         -------------------------------------
                                         Name:
                                         Title:

                                         Chum Capital Group Limited

                                         -------------------------------------
                                         Name:
                                         Title:

                                         Guorun Group Limited

                                         -------------------------------------
                                         Name:
                                         Title:

                                         Venture Link Assets Limited

                                         -------------------------------------
                                         Name:
                                         Title:

<PAGE>

EXHIBIT B
                             [LETTERHEAD OF COMPANY]

[INSERT DATE]
American Stock Transfer
  & Trust Company
59 Maiden Lane
Plaza Level
New York, New York 10038
Attn: Herb Lemmer

              Re:  TRUST ACCOUNT NO. [           ] TERMINATION LETTER
Gentlemen:

          Pursuant to paragraph 1(j) of the Investment Management Trust
Agreement between ChinaGrowth North Acquisition Corporation ("Company") and
American Stock Transfer & Trust Company dated as of May __, 2006 ("Trust
Agreement"), this is to advise you that the Company's corporate existence has
ceased by operation of law and you should promptly liquidate the trust account
and distribute the proceeds to all of the holders of shares sold in the
Company's initial public offering.

          In accordance with the terms of the Trust Agreement, we hereby (a)
certify to you that the provisions of Section 11-51-302(6) and Rule 51-3.4 of
the Colorado Statute have been met and (b) authorize you, to commence
liquidation of the Trust Account. In connection with this liquidation, you are
hereby authorized to establish a record date for the purposes of determining the
shareholders of record entitled to receive their per share portion of the Trust
Account. The record date shall be within ten (10) days of the liquidation
redemption date, or as soon thereafter as is practicable. You will notify the
Company in writing as to when all of the funds in the Trust Account will be
available for immediate transfer ("Transfer Date") in accordance with the terms
of the Trust Agreement and the Articles and Memorandum of Association of the
Company. You shall commence distribution of such funds in accordance with the
terms of the Trust Agreement and the Articles and Memorandum of Association of
the Company and you shall oversee the distribution of the funds. Upon the
payment of all the funds in the Trust Account, the Trust Agreement shall be
terminated.

                                          Very truly yours,

                                          CHINAGROWTH NORTH
                                          ACQUISITION CORPORATION

                                          By:
                                             -----------------------------------
                                             Name:
                                             Title:

<PAGE>

                                   AFFIRMED:

                                   Global Vestor Capital Partners LLC

                                   --------------------------------------------
                                   Name:
                                   Title:

                                   --------------------------------------------
                                   Name:
                                   Title:

                                   Chum Capital Group Limited

                                   --------------------------------------------
                                   Name:
                                   Title:

                                   Guorun Group Limited

                                   --------------------------------------------
                                   Name:
                                   Title:

                                   Venture Link Assets Limited

                                   --------------------------------------------
                                   Name:
                                   Title:

<PAGE>

EXHIBIT C

AUTHORIZED INDIVIDUAL(S)                                    AUTHORIZED
FOR TELEPHONE CALL BACK                                     TELEPHONE NUMBER(S)
-----------------------------------------                   --------------------

COMPANY:

ChinaGrowth North Acquisition Corporation
1818 Canggong Road, Fengxian
Shanghai Chemical Industry Park
Shanghai, China 201417                                      21-5744-8336

Attn: Michael Zhang, Chief Financial
Officer

TRUSTEE:

American Stock Transfer & Trust Company
59 Maiden Lane
Plaza Level
New York, New York 10004

Attn: Herb Lemmer, Vice President                           (718) 921-8209

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