Document:

English Translation of Maximum Guarantee Contract

 Exhibit 4.55 
 English Translation 
 Contract No: (2008) Ning Yin Zui Bao Zi No.
                     
 MAXIMUM GUARANTEE CONTRACT 
 CHINA CITIC BANK 
 MAXIMUM GUARANTEE CONTRACT 
  

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	Guarantor: China Electric Equipment Group Co., Ltd. (hereinafter referred to as “Party A”)
	
	Registered Office: No.6, Shuige Road, Jiangning Development Zone, Nanjing
	
	Post Code: 211100
	
	Tel.: 025-52095962
	
	Fax: 025-52095968
	
	Legal Representative: Lu Tingxiu
	
	Bank and Account:
	
	Creditor: China CITIC Bank Nanjing Branch (hereinafter referred to as “Party B”)
	
	Registered Office: No. 348, Zhongshan Road, Nanjing
	
	Post Code: 210008
	
	Tel.: 83799186
	
	Fax: 83799000
	
	Legal Representative/Responsible Person: Jiao Shijing
	
	Signing Place: Nanjing
	
	Signing Date: January 9, 2008

 In order to assure the performance of consecutive credit rights in a certain period (hereinafter referred to as
“Principal Claim”) between Party B and CEEG (Nanjing) PV-Tech Co., Ltd. (hereinafter referred to as “Debtor”), Party A agrees to provide maximum amount guarantee. Therefore according to the Contract Law of the
People’s Republic of China, the Guaranty Law of the People’s Republic of China and other relevant laws and regulations, both parties enter into the following agreement through equal negotiation: 
 Article 1 Definitions 
 1.1 The maximum amount guarantee means the
agreement under which both parties confirm a maximum credit line for the consecutive credit rights of Debtor in a certain period and Party A provides guarantee to Party B for the Debtor to perform debt in the credit line. The maximum credit line
refers to the total balance of all debts (including or having contingent liability) that the Debtor undertakes to Party B. 
 Article 2 Principal Claim
Guaranteed 
 2.1 The Principal Claim guaranteed refers to series of claims resulting from the credit granting of Party B to the Debtor from January
2008 to January 2009 including but not limited to various banking business such as various loans, bills, letter of guarantee, letter of credit, etc. 
  

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 2.2 The maximum credit line of the Principal Claim guaranteed is RMB of equivalent value (in words) RMB one hundred
and fifty million only. If Party A performs the liability of guarantee according to this Contract, the maximum credit line guaranteed to Party A is correspondingly reduced by the performed amount. 
 2.3 Within the above prescribed period and maximum credit line, all the contracts, agreements and other legal documents concluded for the Debtor-creditor relationship
between Party B and the Debtor are the Main Contract of this Contract. 
 Article 3 Form of Guarantee 
 3.1 Party A provides the joint and several guarantee liabilities. If certain single debt under the Main Contract expires and the Debtor fails to perform any or all debts,
Party B is entitled to directly request Party A to undertake the guarantee liability. 
 3.2 When the Debtor fails to perform its debts according to the Main
Contract, whether there is other guarantee (including but not limited to guarantee, mortgage, pledge, letter of guarantee, stand-by L/C, and other forms of guarantee) for the claims under the Main Contract of Party B, Party B is entitled to directly
request Party A to undertake the guarantee liability in the scope of guarantee. 
 Article 4 Term of Guarantee 
 4.1 The term of guarantee of Party A to undertake guarantee liability is two years from the date of expiration of debt performance term of the Debtor stipulated by the
specific business contract. The term of guarantee under each specific business contract is calculated separately. 
 4.2 In the event the debts early matured
due to laws and regulations, the Main Contract or agreements of both parties to the Main Contract, the date of early maturity is the expiration date of debt performance term. 
 4.3 If the business under the Main Contract is letter of credit, banker acceptance bill or letter of guarantee, the term of guarantee is two years from the date of advances; in case of installment of advances, the
term of guarantee is calculated from the date of each advance. 
 Article 5 Scope of Guarantee 
 5.1 The scope of guarantee provided by this guarantee covers debt principal, interest, penalty interest, compound interest, penalty for breach, compensation for damage,
expenses for realizing creditor’s right (including but not limited to cost of action, cost of arbitration, attorney’s fee, travel expenses, evaluation fee, fee of auction or sale, fee of ownership transfer, cost of preservation,
announcement fee, enforcement fee, etc.) and other expenses payable under the Main Contract. 
  

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 Article 6 Representations and Warranties of Party A 
 6.1 Party A is a legal person or other entity duly established under the laws of PRC with legal capacity for civil rights and civil conducts required for conclusion and performance of this Contract, which is capable
to undertake civil liability independently and has obtained all necessary and lawfully internal and external approval and authorization to conclude this agreement. 
 6.2 Party A understands and agrees to all the provisions of the Main Contract and voluntarily provides guarantee for the Debtor, and all the declarations of its will under this Contract are true. 
 6.3 The establishment of this guarantee is not limited in any way or results in any illegal conditions. 
 6.4 All the documents, statements and representations provided by Party A are lawful, authentic, accurate and complete. Except for the information disclosed in written form to Party B, Party A has no other material
liability (including or having contingent liability), defaulting, litigation, arbitration or other important issues affecting its assets possibly affecting the performance of this Contract that is not disclosed to Party B. 
 Article 7 Rights and Obligations of Party A 
 7.1 Party A shall
provide Party B with the valid legal documents which can certify its legal identity. 
 7.2 In the term of this Contract, if Party A changes its legal person
name, legal representative, project responsible person, domicile, telephone, fax and etc., it shall notify Party B in writing within seven days after the change. 
 7.3 If the Debtor fails to repay the principal and interest of the loan as stipulated in the Main Contract upon the expiration of the debt performance term of the Main Contract or the early maturity of the creditor’s right as
stipulated in the Main Contract, Party B shall be entitled to request Party A to repay the debt directly. Party A undertakes that it will not for any reason reject any claim for repayment raised by Party B, and will waive the defense right as
provided in Article 20 of Guaranty Law. 
 7.4 Party A is obliged to provide Party B with its balance sheet and all the notes regarding the condition of its
external security and shall, regularly or from time to time, as required by Party B, provide Party B with the statements and other documents that reflect its comprehensive financial condition authentically. 
 7.5 Within the term of this Contract, in the event of occurrence of any situation by Party A that may or is sufficient to affect its guaranty ability, including but not
limited to share conversion, restructuring, consolidation, division, shareholding system restructuring, joint venture, cooperation, pooling, contracting, leasing, change in business scope and registered capital, material assets transfer and etc.,
Party A shall notify Party B in writing thirty days in advance; 
 7.6 Within the term of this Contract, in the event of occurrence of any situation by Party
A that may or is sufficient to affect its guaranty ability, including but not limited to 

  

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putting up the shutters, going out of business, application or declaration of bankruptcy, dissolution, revocation of business license, cancellation of
registration, deterioration of financial condition or involvement of any action, arbitration, criminal or administrative penalty and etc., it shall notify Party B in writing within three days from the occurrence of the foregoing situations;

 7.7 If Party A provides any form of security to any third party within the term of this Contract, such security shall not impair the interest of Party B.

 7.8 If Party A is involved in the situations as stipulated in Articles 7.5 and 7.6 hereof within the term of this Contract, it shall ensure the proper
fulfillment of all the guaranty liabilities hereunder and shall provide detailed proposal thereof. 
 7.9 In the event the Debtor fails to repay all or part
of the debt under the Main Contract as agreed (including the early maturity of the debt under the Main Contract as stipulated in laws, regulations and the Main Contract or agreed by the parties of the Main Contract), if Party B requests Party A to
undertake the guarantee liability, Party A shall immediately repay for the Debtor the debt under the Main Contract according to the amount and form as notified from the date it receives the written notice of Party B. 
 7.10 If Party A fails to fulfill its obligations as stipulated in Article 7.9 hereof, it authorizes Party B to deduct and collect the sum directly from any account of
Party A opened with Party B and/or exercise the right of disposal upon the properties or property right of Party A possessed or managed by Party B according to law to repay the indebtedness under the Main Contract. In the event the currency in the
account is different from the currency of the debt under the Main Contract when Party B deducts the amount from Party A’s account, it shall be converted in accordance with the exchange rate announced by Party B on the day of deduction.

 7.11 If any third party provides guarantee for the indebtedness under the Main Contract, Party A shall still undertake the guarantee liability as
stipulated in Article 3 hereof. 
 Article 8 Rights and Obligations of Party B 
 8.1 If Party B transfers its entire creditor’s rights under the Main Contract to any third party, it shall timely notify Party A in writing after the execution of the transfer contract. 
 8.2 In the event Party B and the Debtor enter into specific business contracts regarding specific credit granting business under the Main Contract, Party A may not be
notified. 
 8.3 In the event the Debtor fails to repay all or part of the debt as stipulated in the Main Contract (including the early maturity of the debt
under the Main Contract as stipulated in laws, regulations and the Main Contract or agreed by the parties of the Main Contract), Party B shall be entitled to request Party A to undertake the guarantee liability as stipulated herein. 
 8.4 Party B shall keep secret the materials, documents and information regarding Party A provided by Party A, except as provided by laws and regulations. 
  

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 Article 9 Defaulting Liabilities 
 9.1 Upon effectiveness of this Contract, the Parties shall fulfill the obligations as stipulated herein. If either Party fails to perform or fully perform the obligations as stipulated herein, it shall bear the
corresponding liability for breach of contract and compensate the other Party for the losses arising therefrom. 
 9.2 If the representations and warranties
made by Party A in Article 6 hereof are inauthentic, inaccurate, incomplete or intentionally misleading, which has caused losses to Party B, Party A shall compensate Party B. 
 9.3 If this contract becomes invalid due to Party A’s fault, Party A shall compensate Party B for all the losses within the scope of guarantee. 
 9.4 During the term of this Contract, Party B is entitled to, according to the provisions in Article 7.10 under this Contract, request Party A to undertake guarantee liability or take relevant legal measures to Party
A or its property or rights of property in case of any of the following: 
 9.4.1 Party B fails to be compensated upon the expiration of any debt performance
term under the Main Contract; 
 9.4.2 Party B fails to be compensated in case of any events that the debts become due in advance, which are stipulated in
laws and regulations, the Main Contract or agreement of both parties to the Main Contract; 
 9.4.3 Material financial loss, asset loss, property loss or
other asset loss or financial crisis due to external guarantee of Party A without relevant security or Party B is unsatisfied with the security; 
 9.4.4 Any
crisis of management or finance of the holding shareholders or other affiliated companies of Party A, or any material affiliated transaction between Party A and its holding shareholders or other affiliated companies, which influences the ordinary
management of Party A, without relevant security or Party B is unsatisfied with the security; 
 9.4.5 Any adverse change in the industry of Party A without
relevant security or Party B is unsatisfied with the security; 
 9.4.6 Any material corruption, bribery, embezzlement or illegal operation of the senior
managers of Party A without relevant security or Party B is unsatisfied with the security; 
 9.4.7 Any breach of Party A to other Creditors without relevant
security or Party B is unsatisfied with the security; 
 9.4.8 Any winding-up, suspension, application of bankruptcy, declared bankruptcy, dissolution,
revocation of business license, or cancellation of Party A; 
 9.4.9 Party A fails to perform Article 7.8 under this Contract, executing all guarantee
liabilities or the detailed proposal provided is not able to satisfy Party B; 
 9.4.10 Other events of Party A which might threat, damage or possibly
threat, damage the rights and interests of Party B. 
  

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 Article 10 Accumulation of Rights 
 10.1 The rights of Party B hereunder are cumulative and do not affect and exclude any right of Party A at law and under other contracts. Unless made in writing by Party B, no failure and/or delay by Party B in
exercising all or part of any of its rights shall operate as a waiver thereof nor affect, preclude or impede the further exercise thereof or the exercise of any other right. 
 Article 11 Continuity of Obligations 
 11.1 All the obligations and joint and several liabilities of Party A hereunder
shall be continuous and fully bound upon its successor, takeover person, transferee and the entities after the consolidation, restructuring or name change from it, will not be affected by any dispute, claim and legal proceedings as well as any order
of the superior entity and any contract or document as entered into by the Debtor of the Main Contract and any natural person or legal person, and will not change in any aspect due to bankruptcy, inability to repay the loan, loss of business
capacity, modification of the articles of association and any change in nature on the part of the Debtor. 
 Article 12 Other Stipulations 

/ 
 In the event this article is in conflict with other
articles, this article shall prevail. 
 Article 13 Applicable Law 
 13.1 This contract shall be governed by the laws of the People’s Republic of China. 
 Article 14 Dispute Settlement

 14.1 Any dispute arising from or relating to this Contract shall be settled through consultation between the Parties. If the dispute can not be settled
through consultation, the Parties agree that it shall be settled through the second of the following methods: 
 (1) Apply to ________ Arbitration Commission
for arbitration; 
 (2) Bring a suit before the people’s court where Party B is located. 
 Article 15 Validity of this Contract 
 15.1 This Contract is separate from the Main Contract. If the Main Contract is
invalid for any reason, the validity of this Contract will not be affected, and this Contract shall still be valid. The joint and several guarantee liability of Party A hereunder shall apply to the legal liability of the Debtor after the Main
Contract becomes ineffective (including but not limited to reinstatement and compensation of damages). 
 15.2 If a provision or part of such provision is or
becomes invalid in the future, such invalid provision or part shall not affect the validity of this Contract and other provisions or other parts of such provision of this Contract. 
  

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 Article 16 Effectiveness, Modification and Termination of this Contract 
 16.1 This Contract shall come into effect after signed or sealed by the legal representatives or authorized representatives of Party A and legal representatives or
responsible person or authorized representatives of Party B and sealed by their official chops or chops for contracts. 
 16.2 Upon the effectiveness of this
Contract, unless otherwise agreed upon hereunder, neither of the parties may modify or terminate this Contract without the consent of the other party. If it is necessary to modify or terminate the Contract, the parties shall consult with each other
and reach a written agreement. 
 Article 17 Miscellaneous 
 17.1 The Parties may separately conclude written agreements as annexes hereof with respect to the matters not covered herein. Any annex, modification or supplementation of this Contract shall constitute an integral part hereof and have
equal legal effect with this Contract. 
 17.2 Any notice, demand or other communication, including but not limited to telex, telegram, fax and other
letters, given by Party B to Party A regarding this Contract shall be deemed as delivered to Party A once sent out; mails shall be deemed as delivered to Party A on the third day from sending out by registered mail; if sent by hand, it shall me
deemed as delivered to Party A on the date the receiver sign the return receipt. 
 17.3 This contract is made in duplicate, with each of Party A and Party B
holding one for them to comply with. 
 17.4 Party B has taken reasonable methods to bring to Party A’s attention the terms of exemption or limitation
of its responsibility and provides adequate explanations of relevant terms upon the request of Party A; both parties have no demurral to the understanding of all the terms of this Contract. 
  

	
	Party A (company seal or contract seal)
	
	Legal representative: Lu Tingxiu
	
	(or authorized agent)
	
	Party B (company seal or contract seal)
	
	Legal representative/responsible person: Jiao Shijing
	
	(or authorized agent)

  

 8English Translation of Maximum Guarantee Contract

 Exhibit 4.56 
 English Translation 
 PRINTED UNDER THE SUPERVISION OF HUA XIA BANK 
 MAXIMUM GUARANTEE CONTRACT 
 HUA XIA
BANK, NANJING BRANCH 
  

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 MAXIMUM GUARANTEE CONTRACT 
 Contract No.: NJ21 (Gao Bao) 20070001 
  

													
	Party A (Guarantor): China Electric Equipment Group Co., Ltd.
	
	Legal Representative: Lu Tingxiu
	
	Registered Address: 123 West Focheng Road, Jiangning Economic & Technical Development Zone, Nanjing
		
		  	Post Code:
		
	Tel.: 025-52795962	  	Fax: 025-52095968
	
	Bank of Basic Account: ICBC, Chengbei Branch
	
	A/C No.: 4301010919100347727
	
	Party B (Creditor): Hua Xia Bank, Nanjing Branch
	
	Legal Representative/Main person in charge: Shen Jian
					
	Registered Address: No. 81, Zhongshan Road, Nanjing	  	Post Code: 210005	  		  		  	
					
	Tel.: 025-84700088	  	Fax: 025-84700088	  		  		  	

 Party B and CEEG (Nanjing) PV-Tech Co., Ltd. (hereinafter referred to as “Debtor”) will
conclude several business contracts within the term as specified herein in accordance with the Guaranty Law of the People’s Republic of China, and Party A agrees to provide the security of guarantee for all creditor’s rights under those
business contracts subject to the limitation of maximum amount of creditor’s rights (hereinafter referred to as “Principal Creditor’s Rights”), for the benefits of Party B. Now, therefore, both parties hereby enter into
this Contract through negotiation. 
 ARTICLE 1 CATEGORY, AMOUNT AND TERM OF THE PRINCIPAL CREDITOR’S RIGHTS SECURED 
 1.1 The form of the Master Contract to be secured by the guarantee hereunder is: 
 þ Party B will conclude a Credit Facility Contract with Maximum Amount (No. NJ21 (Rong Zi) 20070001) with the Debtor, and this contract and all specific business contracts thereunder constitute the
Master Contract to this Contract; 
  

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  ̈ All [            ]
contracts concluded by Party B and the Debtor continuously within the term of this Contract constitute the Master Contract to this Contract. 
 1.2 The
category of the Principal Creditor’s Rights secured by Party A is to be stipulated by the Master Contract. 
 1.3 The amount of the Principal
Creditor’s Rights with a maximum amount secured hereunder is (in word) RMB Ninety Two Million Yuan Only (of which, the amount in any other currency shall be converted according to the exchange rate announced by Party B on the date of
transaction). 
 1.4 The period for conclusion of specific business contracts secured hereunder shall be from June 4, 2007 to June 4, 2008.

 1.5 The due date of the debts owed by the Debtor under the Master Contract is stipulated in the Master Contract. Where the Debtor is to discharge the
debts in installments under the Master Contract, the due date of such installment of debt shall be the maturity date of such installment of debt. Where the Creditor announces an earlier maturity of a specific installment of debts according to the
Master Contract, the earlier maturity date shall be the maturity date of such installment. 
 ARTICLE 2 SCOPE OF GUARANTEE 
 2.1 The scope of guarantee hereunder includes the principal of the debt under the Master Contract, interests, overdue interests, penalty interests, compound interests,
liquidated damages, damages and costs of enforcing the creditor’s rights by Party B, including but not limited to legal costs, costs of arbitration, costs for preservation, costs of public announcement, costs of assessment, costs of
identification, auction costs, travel expenses, telecommunication costs and attorney fees, as well as other costs and expenses payable by the Debtor. 
 ARTICLE 3 METHOD OF GUARANTEE 
 3.1 The guarantee provided by Party A is a guarantee of joint and several liabilities. Where the Debtor fails
to repay the loans under the Master Contract, Party B may directly demand Party A to repay the loans and Party A shall immediately discharge the debts under the Master Contract. 
 ARTICLE 4 PERIOD OF GUARANTEE 
 4.1 The term of the guarantee provided by Party A hereunder shall be two
(2) years, as 

  

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from the maturity date of the debts as specified in the Master Contract. The term of guarantee under each specific business contract (or agreement) shall be
calculated separately. 
 4.2 The “maturity date of the debts under the Master Contract” as mentioned above shall mean the due date of each
installment of debt, where the debts are to be discharged by the Debtor in installments; and also the earlier maturity date of any debt announced by the Creditor according to the Master Contract. 
 4.3 Where the business under the Master Contract is L/C, bank acceptance draft, letter of bond or guaranty for delivery of goods, the term of guarantee shall be two
(2) years from the date of advance payment by the Creditor; where the payment is advanced in installments, the term of guarantee for each installment shall be calculated separately and respectively. 
 ARTICLE 5 RIGHTS AND OBLIGATIONS OF PARTY A 
 5.1 Party A undertakes
that it is a lawful corporation duly established and existing, and has the lawful qualification of guarantee and the ability to discharge the debts, and voluntarily agrees to assume and perform the obligation of guarantee with its own or disposable
assets. 
 5.2 Party A undertakes that execution of this Contract is duly approved by its superior authority or its board of directors and it has obtained
all necessary authorization for the execution of this Contract. 
 5.3 Party A undertakes that execution and performance of this Contract will not violate
any provision or agreement binding upon it and its assets, or any guaranty agreement or any other agreement signed by Party A with any other party, or any other document, contract or commitment binding upon Party A. 
 5.4 All documents and materials provided by Party A to Party B hereunder are authentic, accurate, lawful and valid. 
 5.5 Party A has understood and agreed all terms and conditions of the Master Contract, and voluntarily provides the guarantee for the benefits of the Debtor and
undertakes to perform the obligation of guarantee according to this Contract. 
 5.6 Where the Master Contract hereunder is a Bank Acceptance Agreement,
Party A hereby undertakes that any instrument or non-instrument dispute between the Debtor and the holder, endorser or any other party of the acceptance draft will not affect Party A’s liabilities of guarantee to Party B hereunder. 

5.7 Where there is any other form of security under the Master Contract in addition to 

  

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the guarantee hereunder, Party A’s liabilities of guarantee to Party B will not be affected, released or reduced due to any other security provided by
any other person, and assumption of the liabilities of guarantee by Party A is not subject to the condition that Party B makes a claim, initiates an action/arbitration/enforcement against any other party providing the security. 
 5.8 Party A hereunder undertakes that, during the term of this Contract, it will not provide any other security to any third party in whatever form beyond its ability of
security. 
 5.9 Party A hereunder undertakes that, during the term of this Contract, it will provide all financial statements, such as balance sheet,
statement of profit and loss and statement of cash flow upon request of Party B, and will accept Party B’s audit and supervision on Party A’s production, business operation and financial status. 
 5.10 During the term of this Contract, in the event of contracting, lease, trust, asset restructuring, debt restructuring, reformation of capital structure, association,
merger (or consolidation), division, assignment of assets, joint venture (or cooperation), reduction of registered capital or voluntary close-down for rectification, voluntary dissolution (or revocation) or voluntary bankrupt or any other change to
the operation mode, capital structure or legal status on the part of Party A, Party A shall send a written notice to Party B thirty days prior to the occurrence of such event and perform all obligations of guarantee hereunder. 
 5.11 During the term of this Contract, if Party A is announced stoppage of business for rectification, close-down, dissolution (or revocation) or bankruptcy, or there is
any other change to the capital structure or legal status of Party A, or there is any other event materially affects Party A’s ability in business operation or ability of guaranty, Party A shall send a written notice to Party B within three
days upon occurrence of such event. 
 5.12 Where there is any change to the registered address, name or legal representative of Party A, Party A shall send
a written notice to Party B within seven days upon such change. 
 ARTICLE 6 RIGHTS AND OBLIGATIONS OF PARTY B 
 6.1 Party B may from time to time demand Party A to provide the financial reports, financial statements and other materials reflecting Party A’s business status and
credit condition. 
 6.2 Where the Debtor fails to repay the loan on the maturity date according to the Master Contract, including the maturity date of any
installment of loan or the earlier maturity announced by the Creditor, Party B may demand Party A to perform its liabilities of guarantee hereunder. 
  

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 6.3 If Party B has any other security for the creditor’s rights under the Master Contract, Party B may choose to
exercise the security right hereunder in priority and demand Party A to perform the guarantee of joint and several liabilities. 
 6.4 Where Party A fails to
perform any obligation hereunder, Party B may directly deduct an amount payable by Party A from any account opened by Party A at any business office of Hua Xia Bank. Where the currency of the account is different from the currency of the Principal
Creditor’s Rights, it shall be converted according the exchange rate announced by Party B on the day of deduction. 
 6.5 When Party B concludes any
specific business contract (or agreement) with the Debtor, it is not required to send a notice to Party A. 
 ARTICLE 7 DEFAULT LIABILITIES

 7.1 Upon effectiveness of this Contract, both parties hereto shall perform their own obligations hereunder. If either party hereto fails to perform or
fails to fully perform its obligations hereunder, it shall assume the liabilities for breach of contract accordingly and indemnify the other party against all losses and damages resulting therefrom. 
 ARTICLE 8 EFFECTIVENESS 
 8.1 This Contract shall become effective as
of being signed by both parties. 
 8.2 This Contract is independent from the Master Contract and not subject to the invalidity of the Master Contract. Where
the Master Contract is held as invalid, Party A shall also be liable for guarantee for the obligations of the Debtor resulting from return of properties or indemnification of losses. 
 ARTICLE 9 AMENDMENT AND TERMINATION 
 9.1 Neither party may amend or terminate this Contract by its sole discretion
after this Contract becomes effective. 
 9.2 Party B may amend the Master Contract with the agreement of the Debtor without the consent of Party A, other
than extension of the term or increase of the amount of Principal Creditor’s Rights. 
 9.3 Where the category of the Principal Creditor’s Rights
hereunder is the advancement for L/C, Party A hereby confirms that when the L/C is modified by the applicant and Party B and amount under the modified L/C (excluding the interests, 

  

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liquidated damages, indemnity and other relevant costs and expenses) does not exceed the total amount of the credit amount and overshipment amount under the
L/C specified in the Master Contract, whatever change to the amount of L/C or any other terms and conditions, it shall be deemed that such modification has been approved by Party A in advance, and this Contract will remain full effect and force and
Party A shall still be subject to the guarantee of joint and several liabilities. 
 ARTICLE 10 DISPUTE SETTLEMENT 
 10.1 Any dispute arising from the performance of this Contract by both parties shall be settled through mutual negotiations; in case no settlement can be reached, both
parties will choose either of the following options to settle the dispute: 
 þ To file an action before the people’s
court where Party resides; 
  ̈ To submit the dispute to
                             arbitration committee for arbitration. 
 ARTICLE 11 SUPPLEMENTARY PROVISIONS 
 11.1 Where there is any change
to the legal person’s name, legal representative or registered address of Party A during the term of this Contract but Party A fails to send a written notice to Party B, all instruments sent by Party B to the address of Party A listed herein
shall be deemed as duly delivered. 
 11.2 Other issues agreed by both parties: 
  

	
	  

	  

	                                      
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 11.3 This Contract shall be executed one for each party hereto and each being of equal authenticity. 

11.4 All attachments to this Contract are the integral parts hereof and shall have the same legal force as this Contract. 
 11.5 Party B has taken reasonable means to remind Party A of all terms and conditions hereunder releasing or restricting the obligations and liabilities of Party B, and
has made sufficient explanations upon request of Party A. Both parties have a consistent understanding about all terms and conditions of this Contract. 
  

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 Party A: China Electric Equipment Group Co., Ltd. (Seal) 
 Legal Representative: /s/ Lu Tingxiu 
 (or Duly Authorized Representative) 
 May 31, 2007 
 Party B: Hua Xia Bank, Nanjing Branch (Special Seal for
Contract) 
 Legal Representative/Main person in charge: Bi Shunrong (Seal) 
 (or Duly Authorized Representative) 
 (Signature or Seal) (Seal) 
 May 31, 2007 
  

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