Document:

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                                                                    EXHIBIT 10.9

                                                           [ENGLISH TRANSLATION]

                                               Contract No. (2005) Yinbao No. 10

                        MAXIMUM AMOUNT GUARANTEE CONTRACT

                            China CITIC Industry Bank

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                        MAXIMUM AMOUNT GUARANTEE CONTRACT

GUARANTOR: Baoding Tianwei Baobian Electric Co., Ltd. (HEREINAFTER "PARTY A")

REGISTERED ADDRESS: No. 318 Tianwei West Road, Baoding

MAIL CODE: 071000

TEL: 0312-3308517

FAX: 0312-3308517

LEGAL REPRESENTATIVE: Ding Qiang

BANK AND ACCOUNT: Shijiazhuang Branch of CITIC

CREDITOR: CITIC Industry Bank, Shijiazhuang Branch (HEREINAFTER "PARTY B")

REGISTERED ADDRESS: No. 209 Xinhua East Road, Shijiazhuang

MAIL CODE: 050000

TEL: 87884438

FAX: 87884436

LEGAL REPRESENTATIVE/ RESPONSIBLE PERSON: Chen Yanming

BANK AND ACCOUNT:

DEBTOR: Baoding Tianwei Yingli New Energy Resources Co., Ltd.

REGISTERED ADDRESS: No. 11 Fuxing Road, High-tech District, Baoding

MAIL CODE: 050000

TEL: 0312-3100513

FAX: 0312-3151881

LEGAL REPRESENTATIVE: Ding Qiang

BANK AND ACCOUNT: Shijiazhuang Branch of CITIC

PLACE EXECUTING THIS CONTRACT: Shijiazhuang City

DATE EXECUTING THIS CONTRACT: August 11, 2005

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     To ensure satisfaction of credit claims of Party B, Party A is willing to
provide maximum amount guarantee for a series of credit claims between Party B
and the Debtor. Therefore, in accordance with Contract Law, Security Law and
other relevant laws and regulations, upon equal discussion, Party A and Party B
enter into this Contract.

ARTICLE 1 DEFINITION

     1.1  Maximum amount guarantee refers to the agreement between the Creditor
          and the Guarantor providing that the Guarantor provides guarantee to
          the Creditor for the Debtor's performance of its debts occurring
          continuously in certain period within a certain maximum amount. Such
          maximum amount refers to the total balance of debts (including
          contingent debts) owed by the Debtor to Party B.

ARTICLE 2 PRINCIPAL CREDIT CLAIM UNDER GUARANTEE

     The principal credit claims under guarantee refer to a series of credit
claims arising from August 11, 2005 to August 11, 2007 due to credit extension
by Party B to the Debtor, the maximum amount of which is Renminbi (in words) one
hundred and fifty million yuan. If Party A performs its obligation of security
in accordance with this Contract, such maximum amount is deducted
correspondingly based on the amount paid.

     Within such period and in the extent of such maximum amount as agreed
above, the serial contracts, agreements and other legal documents entered into
between Party B and the Debtor that constitute the basis of creditor-debtor
relationship are the Principal Contracts of this Contract.

ARTICLE 3 FORM OF GUARANTEE

     Party A provides joint-liability guarantee. In case that the Debtor fails
to pay any or part of its debts upon expiry of the performance period of a
single debt under the Principal Contracts, Party B shall have the right to
directly require Party A to bear guarantee liability.

     When the Debtor fails to pay its debt in accordance with the Principal
Contracts, whether or not Party B enjoys any other security (including but to
limited to guarantee, mortgage, pledge, guarantee letter, stand-by letter of
credit or other security form) for its credit claims under the Principal
Contracts, Party B shall have the right to directly require Party B to bear
guarantee liability in the extent of its guarantee.

ARTICLE 4 GUARANTEE PERIOD

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     1.   The period of the guarantee provided by Party A is two years, that is,
          two years from the date when the debt performance time limit agreed in
          specific business contract expires. The guarantee period under each
          specific business contract shall be counted separately.

     2.   If the debt becomes mature earlier according to laws and regulations
          or the Principal Contracts or by agreement between the parties of the
          Principal Contracts, such earlier expiry date is the date when the
          performance time limit expires.

ARTICLE 5 SCOPE OF GUARANTEE

     The scope of this guarantee includes principal, interest, penalty interest,
compound interest, liquidated damage, compensation for damage and expenses for
enforcement of credit claim (including but not limited to litigation fee, lawyer
fee, travel expense) under the Principal Contracts.

ARTICLE 6 STATEMENT AND WARRANTY OF PARTY A

     1.   Party A is a legal person or other organization established in
          accordance with laws, has the capacity for civil rights and capacity
          for civil conduct necessary for execution and implementation of this
          Contract and can bear civil liability independently.

     2.   Party A is voluntary to provide security for the Debtor of the
          Principal Contracts. All of its intent expression under this Contract
          is real.

     3.   All documents, statements and representation provided by Party A
          relevant to loans under the Principal Contracts are legal, true,
          proper and complete. Other than information that has been disclosed to
          Party B in writing, there is not any other material indebtedness
          (including contingent indebtedness), breach of contract, litigation,
          arbitration or other material matter affecting its asset that may
          affect implementation of this Contract on the part of Party A is not
          disclosed to Party B.

ARTICLE 7 RIGHTS AND OBLIGATIONS OF PARTY A

     1.   Party A shall furnish Party B with true and valid legal documents that
          can prove its legal position.

     2.   Within duration of this Contract, in case of change in registered
          address, name, telephone number or fax, Party A shall notify Party B
          such change in writing in seven calendar days after change.

     3.   Party B shall periodically or at any time upon request by Party B
          provide to

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          Party B with statements and other documents that truly reflect its
          overall financial condition.

     4.   In duration of this Contract, if there occurs, on the part of Party A,
          among other things, share transfer, restructure, merger, split-up,
          joint stock system restructure, co-investment, cooperation,
          cooperative operation, contracting, lease, change of business scope
          and registered capital, transfer of material asset that may or is
          sufficient to affect its ability of security, Party A shall notify
          Party B in writing thirty calendar days in advance.

     5.   If there occurs, on the part of Party A, discontinuance of business,
          suspension of business, being announced to be in bankruptcy,
          dissolution, revocation of business license, forced dissolution,
          worsening of financial condition or involvement in material economic
          disputes, Party A shall notify Party B in seven calendar days from the
          date of occurrence of forgoing.

     6.   In duration of this Contract, the extension of any form of security by
          Party A to any third party shall not damage Party B's interests.

     7.   In duration of this Contract, in case of any event under item four or
          five of this Article, Party A warrants to make appropriate arrangement
          for all guarantee liability under this Contract.

     8.   In case that Party B requires Party A to bear guarantee liability
          because the Debtor fails to repay all or part of debts under the
          Principal Contracts in accordance agreement (including in the event of
          earlier maturity of debt under the Principal Contracts as agreed in
          the Principal Contracts), upon receipt of written notice from Party B,
          Party A shall immediately pay to Party B such amount in such way as
          notified and repay such debt under the Principal Contracts.

     9.   If Party A fails to perform its obligation in accordance with item
          eight of this Article, Party A authorizes Party B to directly debit
          against any account of Party A with Party B and/or exercise right to
          dispose upon Party A's property or property right legally occupied and
          managed by Party B to repay debt under the Principal Contracts.

     10.  Unless otherwise provided by this Contract, any amount paid to Party B
          by Party A in bearing its guarantee liability shall offset the
          following in such order as follows: a. the expense for enforcement of
          credit claims; b. damage compensation; c. liquidated damage; d.
          compound interest of the principal credit claim; e. delay penalty
          interest of the principal credit claim; f. interest of the principal
          credit claim; and g. principal of the principal credit claim.

     11.  In the guarantee period, Party B and the Debtor of the Principal
          Contracts may negotiate on amendment of relevant provisions of the
          Principal Contracts without consent of party A. But if such amendment
          of the Principal Contracts by Party B and the Debtor of the Principal
          Contracts apparently increases debt

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          of the Debtor, Party A's consent shall be obtained, otherwise Party B
          may not bear guarantee liability for the increased part on the Debtor
          of the Principal Contracts, provided that, if such increase of debt of
          the Debtor of the Principal Contracts is due to adjustment of interest
          rate by People's Bank of China, Party B shall bear joint guarantee
          liability for such indebtedness increased thereby.

ARTICLE 8 RIGHTS AND OBLIGATIONS OF PARTY B

     1.   To transfer all of its credit claims under the Principal Contracts to
          any third party, Party B shall notify Party A in fifty bank business
          days after executing the credit claim transfer contract in writing.

     2.   During implementation of this Contract, if the People's Bank of China
          adjusts loan interest rate and the interest rate under the Principal
          Contracts is adjusted correspondingly in accordance with rules of the
          People's Bank of China, such adjustment shall not be deemed to be
          amendment to the Principal Contracts and this Contract. Party B needs
          not to notify Party A and Party A shall continue to bear guarantee
          liability.

     3.   Party B needs not to notify Party A when executing specific business
          contracts with the Debtor with respect to specific credit extension
          business under the Principal Contracts.

     4.   If the Debtor of the Principal Contracts fails to pay all or part of
          its debt in accordance with the Principal Contracts (including in the
          event of earlier maturity of debt under the Principal Contracts as
          agreed in the Principal Contracts), Party B has the right to require
          Party A to bear guarantee liability in accordance with this Contract.

     5.   Party B shall keep materials, documents and information about Party A
          provided by Party A in confidentiality, other than those that shall be
          inquired or disclosed as required by laws and regulations.

ARTICLE 9 BREACH OF CONTRACT

     1.   After this Contract comes into effect, Party A and Party B shall
          perform its obligations agreed in this Contract. Any party that fails
          perform to or un-completely performs its obligation agreed in this
          Contract, shall bear corresponding liability for breach of contract
          and compensate the other party for its loss caused.

     2.   Party A shall compensate Party B for any loss caused by untrue,
          improper, un-complete or misleading statement and warranty in Article
          6 of this Contract.

     3.   If this Contract becomes invalid due to default of Party A, Party A
          shall

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          compensate Party B for all of its loss in the extent of the guarantee
          scope.

     4.   In duration of this Contract, in case of any of the following event,
          Party B shall have the right to announce that all of the Principal
          Contracts are mature and directly require Party B to bear guarantee
          liability.

          a.   that Party B is not repaid at expiry of performance time limit of
               any debt under the Principal Contracts;

          b.   that the Principal Contracts becomes mature earlier according to
               provisions thereof;

          c.   that Party A discontinues its business, suspends its business,
               applies for bankruptcy, is announced to be in bankruptcy, is
               dissolved, has its business license revoked or is forced to
               dissolved;

          d.   other events on the part of Party A that endanger or harm or may
               endanger or harm Party B's interests.

ARTICLE 10 ACCUMULATIVENESS OF RIGHTS

     1.   The rights of Party B under this Contract are accumulative and will
          not affect or exclude any other right of Party B against Party A in
          accordance with laws and other contracts. Unless expressed by Party B
          in writing, Party B's failure to exercise, partial exercise of and/or
          delay to exercise any of its rights shall not constitute waiver or
          partial waiver of such right and shall not affect, prevent or block
          Party B to contrite to exercise such right or any other rights.

     2.   The obligations and liabilities of Party A under this Contract are
          accumulative and shall not affect or exclude any other obligation and
          liability owed by Party A to Party B in accordance with laws and other
          contracts. Unless otherwise required by law compulsorily or agreed or
          recognized by Party B in writing, Party B shall not bear any liability
          for obligations and liabilities owed by Party A to any third party in
          accordance with laws or agreements.

ARTICLE 11 CONTINUITY OF OBLIGATIONS

     All obligations and joint liability of Party A under this Contract are of
continuity, completely binding on its inheritor, take-over person or
organization, assignee and the entity existing after merger, restructure or
change of name and shall not be affected by any dispute, compensation claim,
legal proceeding, any order from superior organization and any contract or
document entered into by and between the Debtor of the Principal Contract and
any natural person or legal person, shall not change due to bankruptcy of the
Debtor, inability to repay the debt, disqualification as an enterprise,
amendment of articles of association and occurrence of any substantial change.

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ARTICLE 12 NOTARIZATION AND VOLUNTEER ACCEPT OF FORCE ENFORCEMENT

     1.   If any party of this Contract requests notarization, this Contract
          shall be notarized by the notary authority provided by the State.

     2.   Party A agrees that Party B may apply to the notary authority with
          this Contract for issuance of notary certificate that has enforceable
          effect. In case that the Debtor fails to pay off amount under credit
          extension, interest and relevant expense within repayment time limit
          provided by this Contract, Party B may apply for force enforcement
          with people's court having jurisdiction with such notary certificate
          and Party A will waive all rights of defense and all rights to refuse
          to bear guarantee liability to Party B.

ARTICLE 13 FORCE MAJEURE

     If Party A is unable to perform its obligations in accordance with this
Contract due to force majeure event, Party A shall notify Party B in ten legal
business days from the date of occurrence of such force majeure event and
provide written certificate about such force majeure event issued by local
notary authority.

ARTICLE 14 OTHER AGREED MATTERS

[INFORMATION MISSING IN THE ORIGINAL DOCUMENT]

ARTICLE 15 APPLICABLE LAW

     This Contract shall apply laws of People's Republic of China and is binding
no Party A and Party B.

ARTICLE 16 SETTLEMENT OF DISPUTES

     Any dispute arising due to this Contract or relevant to this Contract shall
be settled by discussion between Party A and Party B; in case of failure to
discuss, both parties agree that such dispute shall be settled in the second way
of the following:

     1. to apply for arbitration by _______________ arbitration commission;

     2. to sue to people's court for the place of Party B's domicile.

     During litigation or arbitration, the provisions of this Contract that are
not involved in dispute shall continue to be implemented.

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ARTICLE 17 EFFECT OF THIS CONTRACT

     1.   This Contract is independent from the Principal Contracts. The
          invalidity of the Principal Contracts due to any reason shall not
          affect the effect of this Contract and this Contract shall continue to
          be valid. The joint guarantee liability of Party A under this Contract
          extends to include legal liability after invalidity of the Principal
          Contracts (including but to limited to returning and compensation
          liability).

     2.   If certain article or part of certain article of this Contract is or
          will be invalid, such article or such invalid part shall not affect
          the validity of this Contract and other articles of this Contract or
          other part of such article.

ARTICLE 18 EFFECTIVENESS, AMENDMENT AND TERMINATION OF CONTRACT

     1.   This Contract comes into effect upon signature or stamping (signature
          or stamping with name chop) and stamping with official chop or
          contract chop by legal representative or authorized representative of
          Party A and legal representative or authorized representative of Party
          B.

     2.   After this Contract comes into effect, unless otherwise agreed in this
          Contract, any party of Party A and Party B shall not amend or
          terminate this Contract without permission. The amendment or
          termination of this Contract shall be made upon discussion of Party A
          and Party B with written agreement.

ARTICLE 19 MISCELLANEOUS

     1.   With respect to matters that are not mentioned in this Contract, Party
          A and Party B may enter into separate written agreement as annex to
          this Contract. Any annex, amendment or supplement to this Contract
          shall constitute a party of this Contract and have the same legal
          effect as this Contract.

     2.   Any notice, request or other communication with respect to this
          Contract by Party B to Party A, including but not limited to tele-fax,
          telegraph or fax shall be deemed to be delivered to Party A upon
          transmission; mail letters shall be deemed to be delivered to Party A
          on third day of registered mail; in case of hand delivery, on the date
          when the recipient signs on the receipt.

     3.   This Contract is executed with _____ [INFORMATION MISSING IN THE
          ORIGINAL DOCUMENT] copies, ____ [INFORMATION MISSING IN THE ORIGINAL
          DOCUMENT] of which is kept by Party A and Party B separately. In case
          of notarization, the notary authority may keep one copy.

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Party A: Baoding Tianwei Baobian Electric Co., Ltd.
(Corporate Seal)

Legal Representative:

/s/ Ding Qiang
-------------------------------------
(or authorized representative)

Corporate seal

Party B: CITIC Industry Bank, Shijiazhuang Branch
(Corporate Seal)

Legal Representative or responsible person:

/s/ Chen Yanming
-------------------------------------
(or authorized representative)

Corporate seal

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                                                                   EXHIBIT 10.10

                                                           [ENGLISH TRANSLATION]

                   Contract No. (2007) Jiyinbaozi/ No. 712008

                        MAXIMUM AMOUNT GUARANTEE CONTRACT

                                China CITIC Bank

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                          How to fill in this Contract

1.   This contract shall be filled in with black blue or blue gel pen or pen.

2.   This contract shall be filled in completely. The handwriting shall be clear
     and tidy.

3.   The type of currency shall be in Chinese instead of currency symbol.
     Amounts in words shall be added with Chinese name of the currency ahead;
     amounts in number shall be added with currency symbol ahead.

4.   Blank in fund-drawing schedule and repaying schedule may be filled in with
     lineation and added with "the following is blank" chop or filled in with
     words like "the following is blank". Other blank without substantial
     content may be filled in with "/".

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                        MAXIMUM AMOUNT GUARANTEE CONTRACT

GUARANTOR: Baoding Tianwei Baobian Electric Co., Ltd. (hereinafter "Party A")

REGISTERED ADDRESS: No. 28 Jingxiu Street, Baoding National High-tech Industry
Development District

MAIL CODE: 071000

TEL: 0312-3308517

FAX: 0312-3308517

LEGAL REPRESENTATIVE: Ding Qiang

BANK AND ACCOUNT: Shijiazhuang Branch of Citic

CREDITOR: CITIC Bank, Shijiazhuang Branch (hereinafter "Party B")

REGISTERED ADDRESS: No. 209 Xinhua East Road Shijiazhuang

MAIL CODE: 050000

TEL: 0311-87884438

FAX: 0311-87884436

LEGAL REPRESENTATIVE/ RESPONSIBLE PERSON: Chen Yanming

PLACE EXECUTING THIS CONTRACT: Shijiazhuang City

DATE EXECUTING THIS CONTRACT: February 6, 2007

     To ensure satisfaction of several credit claims arising continuously in a
definite period between Party B and Baoding Tianwei Yingli New Energy Resources
Co., Ltd. (hereinafter the "Debtor"), Party A is willing to provide security in
the form of maximum amount guarantee. Therefore, in accordance with Contract Law
of People's Republic of China, Security Law of People's Republic of China and
other relevant laws and regulations, upon discussion, Party A and Party B
achieve agreement as follows:

ARTICLE 1 DEFINITION

1.1  Maximum amount guarantee refers to the agreement between Party A and Party
     B providing that Party A provides guarantee to Party B for the Debtor's
     performance of its debts occurring continuously in certain period within a
     certain maximum amount. Such maximum amount refers to the total balance

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     of debts (including contingent debts) owed by the Debtor to Party B.

ARTICLE 2 PRINCIPAL CREDIT CLAIMS UNDER GUARANTEE

     2.1  The principal credit claims under guarantee refer to a series of
          credit claims arising from February 6, 2007 to February 6, 2008 due to
          credit extension by Party B to the Debtor, including but not limited
          to various loan, notes, guarantee letter, letter of credit and other
          banking businesses.

     2.2  The top amount of the Principal Credit Claim under guarantee is the
          equivalent of Renminbi (in words) seventy and five million. If Party A
          perform its obligation of security in accordance with this Contract,
          the top amount under its security may be deducted accordingly.

     2.3  Within such period and in the extent of such maximum amount as agreed
          above, the serial contracts, agreements and other legal documents
          entered into between Party A and the Debtor that constitute the basis
          of creditor-debtor relationship are the Principal Contracts of this
          Contract.

ARTICLE 3 FORM OF GUARANTEE

     3.1  Party A provides joint-liability guarantee. In case that the Debtor
          fails to pay any or part of its debts upon expiry of the performance
          period of a single debt under the Principal Contracts, Party B shall
          have the right to directly require Party A to bear guarantee
          liability.

     3.2  When the Debtor fails to pay its debt in accordance with the Principal
          Contracts, whether or not Party B enjoys any other security (including
          but to limited to guarantee, mortgage, pledge, guarantee letter,
          stand-by letter of credit or other security form) for its credit
          claims under the Principal Contracts, Party B shall have the right to
          directly require Party B to bear guarantee liability in the extent of
          its guarantee.

ARTICLE 4 GUARANTEE PERIOD

     4.1  The period of guarantee provided by Party A is two years, that is, two
          years from the date when the debt performance time limit agreed in
          specific business contracts expires. The guarantee period under each
          specific business contract shall be counted separately.

     4.2  If the debt becomes mature earlier according to laws and regulations
          or the Principal Contracts or by agreement between the parties of the
          Principal Contracts, such earlier expiry date is the date when the
          performance time limit expires.

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     4.3  If the business under the Principal Contracts is letter of credit,
          bank acceptance or letter of guarantee, the guarantee period is two
          years from the date of advance disbursement; in case of advance
          disbursement by installments, the guarantee period shall be counted
          separately from the date of each installment.

ARTICLE 5 SCOPE OF GUARANTEE

     5.1  The scope of this guarantee includes principal, interest, penalty
          interest, compound interest, liquidated damage, compensation for
          damage and expenses for enforcement of credit claim (including but not
          limited to litigation fee, arbitration fee, lawyer fee, travel
          expense, appraisal fee, auction fee, transfer fee, conservation fee,
          publication fee, enforcement fee equal to 10% of the principal credit
          claim) and any other payable expenses.

ARTICLE 6 STATEMENT AND WARRANTY OF PARTY A

     6.1  Party A is a legal person or other organization established in
          accordance with laws of People's Republic of China, has capacity for
          civil rights and capacity for civil conduct necessary for execution
          and implementation of this Contract, can bear civil liability
          independently, and Party A has obtained all necessary and legal
          internal and external approval and authorization for execution of this
          agreement.

     6.2  Party A has completely understood and agrees on all provision of the
          Principal Contracts and is voluntary to provide security for the
          Debtor. All intent expression under this Contract is real.

     6.3  The establishment of this guarantee will not be subject to any
          limitation or cause any illegal event.

     6.4  All documents, statements and representation provided by Party A are
          legal, true, proper and complete. Other than information that has been
          disclosed to Party B in writing, there is not any other material
          indebtedness (including contingent indebtedness), breach of contract,
          litigation, arbitration or other material matter affecting its asset
          that may affect implementation of this Contract on the part of Party A
          is not disclosed to Party B.

ARTICLE 7 RIGHTS AND OBLIGATIONS OF PARTY A

     7.1  Party A shall furnish Party B with true and valid legal documents that
          can prove its legal position.

     7.2  Within duration of this Contract, in case of change in legal person
          name, legal representative, project responsible person, registered
          address, telephone number or fax, Party A shall notify Party B such
          change in seven days after

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          change.

     7.3  When the debt performance time limit of the Principal Contracts
          expires or the debt becomes mature earlier according to the Principal
          Contracts, if the Debtor fails to repay the principal and interest of
          loan in accordance with provisions of the Principal Contracts, Party B
          shall have the rights to directly require Party A to repay such debt.
          Party A warrants not to refuse any claim of repayment from Party B
          with any reason and waive right to defense provided by Security Law.

     7.4  Party A has the obligation to provide to Party B with balance sheets
          and statement concerning all outward security provided and
          periodically or at any time upon request by Party B provide to Party B
          with statements and other documents that truly reflect its overall
          financial condition.

     7.5  In duration of this Contract, if there occurs, on the part of Party A,
          among other things, share transfer, restructure, merger, split-up,
          joint stock system restructure, co-investment, cooperation,
          cooperative operation, contracting, lease, change of business scope
          and registered capital, transfer of material asset that may or is
          sufficient to affect its ability of security, Party A shall notify
          Party B in writing thirty days in advance.

     7.6  In duration of this Contract, if there occurs, on the part of Party A,
          among other thins, discontinuance of business, suspension of business,
          application for or being announced to be in bankruptcy, dissolution,
          revocation of business license, forced dissolution, worsening of
          financial condition or involvement in any litigation, arbitration,
          criminal case, administrative penalty that may or is sufficient to
          affect its ability of security, Party A shall notify Party B in three
          days from the date of occurrence or possible occurrence of forgoing.

     7.7  In duration of this Contract, the extension of any form of security by
          Party A to any third party shall not damage Party B's interests.

     7.8  In duration of this Contract, in case of any event under item 7.5 or
          7.6 of this Article, Party A warrants to make appropriate arrangement
          for all guarantee liability under this Contract and provides specific
          plan to arrange guarantee liability.

     7.9  In case that Party B requires Party A to bear guarantee liability
          because the Debtor fails to repay all or part of debts under the
          Principal Contracts in accordance agreement (including as provided by
          laws and regulations or agreement in the Principal Contracts or in the
          event of earlier maturity of debt under the Principal Contracts as
          agreed by the parties of the Principal Contracts), upon receipt of
          written notice from Party B, Party A shall immediately pay such amount
          in such way as notified to Party B and repay such debt under the
          Principal Contracts.

     7.10 If Party A fails to perform its obligation in accordance with item 7.9
          of this Article, Party A agrees that Party B may directly debit
          against any account of

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          Party A with Party B and/or exercise right to dispose upon Party A's
          property or property right legally occupied and managed by Party B to
          repay debt under the Principal Contracts. When Party B debit against
          Party A's account, if the currency of the account is different from
          that of the debt under the Principal Contracts, it shall be converted
          based on exchange rate announced by relevant authority of the State on
          the date of debit.

     7.11 If there is any third party provides guarantee for performance of
          obligation under the Principal Contracts, Party A shall still bear
          guarantee liability agreed in Article 3 of this Contract.

ARTICLE 8 RIGHTS AND OBLIGATIONS OF PARTY B

     8.1  To transfer its all credit claims under the Principal Contracts to any
          third party, Party B shall notify Party A after executing the credit
          claim transfer contract in writing on a timely basis.

     8.2  Party B needs not to notify Party A when executing specific business
          contracts with the Debtor with respect to specific credit extension
          business under the Principal Contracts.

     8.3  If the Debtor fails to repay all or part of its debt in accordance
          with the Principal Contracts (including as provided by laws and
          regulations or agreement in the Principal Contracts or in the event of
          earlier maturity of debt under the Principal Contracts as agreed by
          the parties of the Principal Contracts), Party B has the right to
          require Party A to bear guarantee liability in accordance with this
          Contract.

     8.4  Party B shall keep materials, documents and information about Party A
          provided by Party A confidential, other than those that shall be
          inquired or disclosed as required by laws and regulations.

ARTICLE 9 BREACH OF CONTRACT

     9.1  After this Contract comes into effect, Party A and Party B shall
          perform its obligations agreed in this Contract. Any party that fails
          perform to or un-completely performs its obligation agreed in this
          Contract, shall bear corresponding liability for breach of contract
          and compensate the other party for its loss caused.

     9.2  Party A shall compensate Party B for any loss caused by untrue,
          improper, un-complete or misleading statement and warranty in Article
          6 of this Contract.

     9.3  If this Contract becomes invalid due to default of Party A, Party A
          shall compensate Party B for all of its loss in the extent of the
          guarantee scope.

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     9.4  In duration of this Contract, in case of any of the following event,
          Party B shall have the right to require Party B to bear guarantee
          liability or take corresponding legal actions towards Party A's
          property or property rights in accordance with agreement in section
          7.10 of this Contract:

          9.4.1 that Party B is not repaid at expiry of performance time limit
               of any debt under the Principal Contracts;

          9.4.2 that Party B is not repaid at earlier maturity of debt under the
               Principal Contracts as required by laws and regulations or the
               Principal Contracts or agreed by both parties in the Principal
               Contracts;

          9.4.3 that Party B occurs material financial loss, asset loss or
               occurs asset loss or other financial crisis due to outward
               security and fails to provide corresponding security or fails to
               provide security satisfactory to Party B;

          9.4.4 that there is crisis in operation or finance on the party of
               Party A's controlling shareholder and other affiliated companies,
               or there are material related party transactions between Party A
               and its controlling shareholder and other affiliated which affect
               normal operation of Party A and Party A fails to provide
               corresponding security or fails to provide security satisfactory
               to Party B;

          9.4.5 that the industry in which Party A operates its business occurs
               negative change and Party A fails to provide corresponding
               security or fails to provide security satisfactory to Party B;

          9.4.6 that any of Party A's senior officers is suspected to commit
               corruption, bribery, fraud or illegal operation and Party A fails
               to provide corresponding security or fails to provide security
               satisfactory to Party B;

          9.4.7 that Party A has breach of contract to other creditors and fails
               to provide corresponding security or fails to provide security
               satisfactory to Party B;

          9.4.8 that Party A discontinues its business, suspends its business,
               applies for bankruptcy, is announced to be in bankruptcy, is
               dissolved, has its business license revoked or is forced to
               dissolved;

          9.4.9 that Party A fails to fulfill all security liability under this
               Contract in breach of section 7.8 of this Contract or the
               specific plan provided to fulfill security liability is not
               satisfactory to Party B; or

          9.4.10 other events on the part of Party A that endanger or harm or
               may endanger or harm Party B's interests.

                                        6

<PAGE>

ARTICLE 10 ACCUMULATIVENESS OF RIGHTS

     10.1 The rights of Party B under this Contract are accumulative and will
          not affect or exclude any other right of Party B against Party A in
          accordance with laws and other contracts. Unless expressed by Party B
          in writing, Party B's failure to exercise, partial exercise of and/or
          delay to exercise any of its rights shall not constitute waiver or
          partial waiver of such right and shall not affect, prevent or block
          Party B to contrite to exercise such right or any other rights.

ARTICLE 11 CONTINUITY OF OBLIGATIONS

     11.1 All obligations and joint liability of Party A under this Contract are
          of continuity, completely binding on its inheritor, take-over person
          or organization, assignee and the entity existing after merger,
          restructure or change of name and shall not be affected by any
          dispute, compensation claim, legal proceeding, any order from superior
          organization and any contract or document entered into by and between
          the Debtor under the Principal Contract and any natural person or
          legal person, shall not change due to bankruptcy of the Debtor,
          inability to repay the debt, disqualification as an enterprise,
          amendment of articles of association and occurrence of any substantial
          change.

ARTICLE 12 OTHER AGREED MATTERS

If this Article is in conflict with other articles, this Article shall prevail.

ARTICLE 13 APPLICABLE LAW

     13.1 This Contract shall apply laws of People's Republic of China.

ARTICLE 14 SETTLEMENT OF DISPUTES

     14.1 Any dispute arising due to this Contract or relevant to this Contract
          shall be settled by discussion between Party A and Party B;

          In case of failure to discuss, both parties agree that such dispute
          shall be settled in the second way of the following:

               a. to apply for arbitration by ___________________ arbitration
               commission;

               b. to sue to people's court for the place of Party B's domicile.

ARTICLE 15 EFFECT OF THIS CONTRACT

                                        7

<PAGE>

     15.1 This Contract is independent from the Principal Contracts. The
          invalidity of the Principal Contracts due to any reason shall not
          affect the effect of this Contract and this Contract shall continue to
          be valid. The joint guarantee liability of Party A under this Contract
          extends to include legal liability after invalidity of the Principal
          Contracts (including but to limited to returning and compensation
          liability).

     15.2 If certain article or part of certain article of this Contract is or
          will be invalid, such article or such invalid part shall not affect
          the validity of this Contract and other articles of this Contract or
          other part of such article.

ARTICLE 16 EFFECTIVENESS, AMENDMENT AND TERMINATION OF CONTRACT

     16.1 This Contract comes into effect upon signature or stamping (signature
          or stamping with name chop) and stamping with official chop or
          contract chop by legal representative or authorized representative of
          Party A and legal representative or authorized representative of Party
          B.

     16.2 After this Contract comes into effect, unless otherwise agreed in this
          Contract, any party of Party A and Party B shall not amend or
          terminate this Contract without permission. The amendment or
          termination of this Contract shall be made upon discussion of Party A
          and Party B with written agreement.

ARTICLE 17 MISCELLANEOUS

     17.1 With respect to matters that are not mentioned in this Contract, Party
          A and Party B may enter into separate written agreement as annex to
          this Contract. Any annex, amendment or supplement to this Contract
          shall constitute a party of this Contract and have the same legal
          effect as this Contract.

     17.2 Any notice, request or other communication with respect to this
          Contract by Party B to Party A, including but not limited to tele-fax,
          telegraph or fax shall be deemed to be delivered to Party A upon
          transmission; mail letter shall be deemed to be delivered to Party A
          on third day of registered mail; in case of hand delivery, on the date
          when the recipient signs on the receipt.

     17.3 This Contract is executed with three copies, one of which is kept by
          Party A, one by Party B, one by the Borrower, for reference for
          implement.

     17.4 Party B has taken reasonable action to remind Party A to note
          provisions under this Contract exempting or limiting its liability and
          has made sufficient explanation for relevant provision upon request of
          Party A; Party A and Party B do not have disagreement upon
          understanding of all provisions of this Contract.

                                        8

<PAGE>

     Party A (corporate seal)

     Legal Representative: /s/ Ding Qiang
                           --------------------------------
     (or authorized representative)

     Party B (corporate seal)

     Legal Representative: /s/ Chen Yanming
                           --------------------------------
     (or authorized representative)

                                        9

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