Document:

Exhibit
      10.29

     

    CREDIT
      AGREEMENT

     

    (English
      Summary Translation)

     

    Pledgee
      (Party A): Bank of Nanjing Stock Co. Ltd., International Business
      Department

     

    Pledgor
      (Party B): Goldenway Nanjing Garments Co. Ltd.

     

    To
      ensure
      the execution of the one or more loan agreement(s) entered by Party A and
      Nanjing Goldenway Nanjing Garments Co. Ltd. (hereinafter, known as “Debtor”),
      Party B shall provide guarantee for Debtor. This Agreement is entered by Party
      A
      and Party B in accordance with the PRC Laws and Regulations.

     

    
      	
            	I.	
              Party
                B’s Representations and Warranties

            

    

     

    The
      mortgaged properties, with Party B as their lawful owner, are not subject to
      any
      controversy of ownership or right of use, confiscation, seizure, control,
      expropriation, removal or any other compulsory measures. These properties under
      this Agreement are legally mortgageable under applicable law. 

     

    
      	
            	II.	
              The
                Credit Agreement and Guaranty

            

    

     

    The
      term
      of the credit agreement is from July 31, 2008 to July 31, 2010. This credit
      agreement and guaranty hereunder covers any and all borrowings of up to
      50,000,000 RMB under one or more loan agreements between Party A and Party
      B.
      Party B shall provide a guarantee, which shall not be restricted to the term
      of
      the loan or the maturity or amount of the loan. 

     

    
      	
            	III.	
              Pledged
                Collateral; Mortgage

            

    

     

    See
      the
      List of Mortgaged Properties (attached herewith). 

     

    
      	
            	IV.	
              The
                Guaranteed Obligations

            

    

     

    The
      guaranteed obligations include the principal amount of the debt hereunder and
      interest, default fines, damage awards and expenses for the realization of
      the
      creditor’s rights (not including expenses for litigation, arbitration, property
      preservation, business travel, notarization, execution, lawyers, evaluation,
      or
      auction, and similar costs and expenses). 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
            	V.	
              Entry
                and Change of Terms of Loans

            

    

     

    Except
      for increase of the amount of a given loan or extension of the term of a loan,
      any change of the principal loan agreement or any change of the interest rate
      under the principal loan agreement is not subject to the approval of Party
      B.

     

    
      	
            	VI.	
              Independence
                of the Agreement

            

    

     

    This
      Agreement is independent from the principal agreement or instruments under
      which
      Party B is a debtor. The invalidity and revocability of the principal agreement
      does not affect the effectiveness of this Agreement. If the principal agreement
      is deemed invalid or revocable, Party B shall still provide guarantee for the
      debt generated from Debtor’s liability to return the property or pay the damage.
      Party B’s duty of guarantee shall not change due to consolidation, separation,
      change of stock equity, loss of civil capability, loss, death, declaration
      of
      loss or death of the Debtor. 

     

    
      	
            	VII.	
              Possession
                of Property

            

    

     

    During
      the mortgage, the mortgaged properties shall be in possession of Party B. Party
      B has the duty to preserve, maintain, and repair the mortgaged properties
      properly.

     

    
      	
            	VIII.	
              Registration
                of the Mortgaged Properties

            

    

     

    The
      mortgaged properties shall be registered with relevant agencies. Party B shall
      help Party A on the registration of the properties within 3 days after entering
      this Agreement. 

     

    
      	
            	IX.	
              Insurance
                for the Mortgaged Properties

            

    

     

    Party
      B
      shall insure the mortgaged properties as instructed by Party A. At no time
      shall
      the amount of the insurance coverage be less than the amount of indebtedness
      under the loans. 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
            	X.	
              Damage
                Caused by a Third Party

            

    

     

    Party
      A
      has the right to do the following in case of any damage caused by a third party:
      

     

    
      	 	
              1.

            	
              Require
                repayment of the debt or part of the
                debt;

            

    

     

    
      	 	
              2.

            	
              Change
                to a deposit of fixed term;

            

    

     

    
      	 	
              3.

            	
              Change
                to guarantee money;

            

    

     

    
      	 	
              4.

            	
              Repair
                the properties; 

            

    

     

    
      	 	
              5.

            	
              Require
                the pledge of new properties of Party B for mortgage.
                

            

    

     

    
      	
            	XI.	
              Disposition
                of the Mortgaged Properties

            

    

     

    Party
      B
      shall not sell, gift, transfer, exchange, lease, remortgage, move or dispose
      of
      the mortgaged properties by other means without a written consent of Party
      A.

     

    
      	
            	XII.	
              Realization
                of Mortgage in Advance

            

    

     

    Party
      A
      has the right to dispose of the mortgaged properties once it declares in
      accordance with law that the debt is due in advance.

     

    
      	
            	XIII.	
              Rights
                and Duties of Party B

            

    

     

    If
      the
      mortgage is or is likely to be impaired by a third party, Party B has the duty
      to inform Party A to avoid such impairment. Party B shall provide additional
      guarantee as agreed in the principal agreement. Party B shall pay for the
      evaluation, notarization, insurance, registration, transfer of ownership,
      assessment, preservation, litigation, arbitration, execution, auction, legal
      service, and similar costs and expenses. 

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
            	XIV.	
              Rights
                and Duties of Party A

            

    

     

    Party
      A
      has the right to require Party B to provide a guarantee for the debt that is
      unpaid, and the right to dispose of the mortgaged properties to satisfy any
      outstanding debt. 

     

    
      	
            	XV.	
              Breach
                of Contract

            

    

     

    In
      case
      of breach of contract by Party B, Party A has the right to ask for correction,
      a
      new guarantee, and any applicable remedy under law. 

     

    
      	
            	XVI.	
              Applicable
                Laws and Settlement of Dispute

            

    

     

    The
      Laws
      of People’s Republic of China are applicable laws to this Agreement. In case of
      dispute, the parties can resolve it through consultation. If the dispute cannot
      be settled through mutual agreement, the parties can bring it to the local
      court
      in Party A’s location.

     

    
      	
            	XVII.	
              Effectiveness,
                Change and Termination of the
                Agreement

            

    

     

    This
      Agreement goes into effect as (1) the parties or authorized agent of the parties
      sign and stamp; (2) the mortgaged properties listed herewith are registered.
      After the Agreement goes into effect, neither party can change or terminate
      this
      Agreement without the consent of the other party. This Agreement can be changed
      or terminated by a written consent of both parties after consultation with
      each
      other. 

     

    
      	
            	XVIII.	
              Miscellaneous

            

    

     

    Party
      B
      understands that applicable interest rates are subject to change, and agrees
      to
      provide additional collateral in the event that Party A deems it necessary
      to
      maintain sufficient collateral for any outstanding principal balance in the
      event of increased rates. If Party B fails to comply with this Agreement, Party
      A may exercise its right to control and sell the ledged collateral as permitted
      under law. 

     

    
      	
            	XIX.	
              Supplement

            

    

     

    Each
      party has a copy of this Agreement. Both copies have the same effect.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    
      	
            	XX.	
              Announcement

            

    

     

    This
      Agreement has been approved by the supervisor of the parties. This Agreement
      is
      entered under the principle of voluntary contract and is binding for both
      parties. All representations made concerning the mortgaged properties is
      genuine, legal and effective. 

    
       

      
        	
                Party
                  A: Bank of Nanjing Stock Co. Ltd., 

              	
                Party
                  B: Goldenway Nanjing Garments Co. Ltd.

              
	 	 
	
                [Stamp]

              	
                [Stamp]

              
	 	 
	
                Signing
                  Date: July 31, 2008

              	
                Signing
                  Date: July 31, 2008Agreement
      on Establishment of Changxing Chisen Physical Chemistry Power
      Research

    and
      Development Center

    

    For
      the
      purpose of enhancing the development of science and technology of the
      enterprise, and promoting the industrialization of high education, this
      agreement on the establishment of Changxing Chisen Physical Chemistry Power
      Research and Development Center is agreed upon the principle of mutual consent
      by Changxing Chisen Electric Co., Ltd. (hereinafter referred to as the Party
      A)
      and Xiamen University (hereinafter referred to as the Party B) under the
      principle of friendly cooperation and common development.

    

    Article
      1
      Organization Structure and Functions of the R&D Center

    1.
      Organization Structure of the R&D Center

    The
      R&D Center is co-founded by Changxing Chisen Electric Co., Ltd. and
      Chemistry and Chemical Engineering College of Xiamen Universtiy. The R&D
      Center shall have one director and two vice directors. The person in charge
      of
      Party A shall serve as the director. Both parties shall assign a representative
      respectively to occupy the positions of two vice directors who are responsible
      for the supervision and management of the R & D of each party and the daily
      administration, communication and cooperation between the two parties. The
      Center shall formulate relevant management system confirmed and complied with
      by
      Party A and Party B.

    

    2.
      The R
&D program shall be brought forward by the R&D Center and implement
      under the confirmation of both parties.

    

    3.
      Functions of the R&D Center

    (1)
      Understanding the industrial requirement plan of Party A, discussion and
      confirmation on the R& D programs according to the industrial requirements
      of Party A;

    (2)
      Organization of technical talents to apply for projects of technical plan at
      state, provincial or municipal administrative department level together with
      Party A and application for the project approval;

    (3)
      Training of technical developers for Party A;

    (4)
      Other
      issues related to cooperation.

    

    Article
      2
      Responsibilities of Both Parties

    
      	
              1.

            	
              Responsibilities
                of Party A

            

    

    
      	
              (1)

            	
              During
                the term of cooperation on the R & D Center of both parties , Party A
                shall provide RMB 30,000 yuan as the operating expense of R & D to
                Party B’ account(Name: Xiamen University, Opening Bank: ICBC Xiamen
                University Branch, Account No. 4100021709024904620) Time of Payment:
                May
                to July each year;

            

    

    
      	
              (2)

            	
              Party
                A shall provide R & D expenditure to R &D Center for special
                purposes according to R& D projects and Planning
                Assignment;

            

    

    
      	
              (3)

            	
              Party
                A shall provide developers of the R &D Center places for living,
                office, R&D and Pilot Workshop when they are working in Party
                A;

            

    

    
      	
              (4)

            	
              During
                the R & D period, Party A shall provide necessary technical and
                logistics support when people from Party B are working in the field
                of
                Party A.

            

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
      	
              (5)

            	
              Party
                A shall assist in handling with other related
                matters.

            

    

    

    
      	
              2.

            	
              Responsibilities
                of Party B

            

    

    
      	
              (1)

            	
              Party
                B shall assist Party A with establishing related technical development
                plan and providing project plan and scheme for key advanced
                technology;

            

    

    
      	
              (2)

            	
              Party
                B shall organize team to research on the programs confirmed by both
                parties and project with project approval according to the technical
                requirements and industrial development plan of Party
                A;

            

    

    
      	
              (3)

            	
              Research
                on new power battery such as new lithium battery, ultra capacitor
                combined
                power, etc;

            

    

    
      	
              (4)

            	
              Providing
                R & D place and relevant equipment for
                developers;

            

    

    
      	
              (5)

            	
              Assisting
                with other related matters.

            

    

    

    Article
      3
      Fruit Ownership

    
      	
              1.

            	
              The
                ownership of invention fruits of programs and projects which obtained
                project approval in the R & D Center belongs to both parties, and can
                not be transferred to any third party by Party A or Party B without
                the
                consent of the other party, (if any amendment exists, the amended
                agreement shall prevail. )

            

    

    
      	
              2.

            	
              The
                ownership of invention fruits of patents or none-patents which obtained
                project approval in the R & D Center belongs to both parties, and the
                sequence of authorship shall be in accordance with the agreement
                of the
                project and based on the author
                contribution.

            

    

    
      	
              3.

            	
              The
                distribution of income which is produced in transfer of ownership
                of
                technical fruits which obtained project approval in the R & D Center
                to a third party or in the commercial production shall be in accordance
                with the supplemental agreement on the project.

            

    

    
      	
              4.

            	
              The
                program that obtained project approval in the R & D Center shall not
                be developed independently by people of Party B who are engaged in
                the
                project, if any, the ownership of the scientific research achievements
                shall be deemed to belong to the R & D
                Center.

            

    

    

    Article
      4
      Expenditure Management

    1.
      Both
      parties shall actively apply to functional departments of government for project
      expenditure, the project expenditure approved to the project shall be
      distributed in accordance with the provisions of agreement on the project and
      transferred into the account of both parties separately for special
      purpose.

    2.
      The
      expenditure of the R & D Centre shall be approved by the director of the R
& D Centre, the expenditure of the R & D Centre on the side of Party B
      shall be examined and approved by the vice director who is representative of
      Party B.

    

    Article
      5
      Any other matters concerned unspecified in this agreement shall be solved
      through friendly consultation of both parties.

    

    Article
      6
      this agreement shall come into effect after being signed by both parties and
      the
      term of validity is three years. Supplemental agreement can be sighed by Party
      A
      and Party B according to the requirements of cooperation to carry out the
      project. This agreement shall be made in quadruplicate, with each party holding
      two, all of which are of the same effect.

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Party
      A
      Changxing Chisen Electric Co., Ltd. (Seal)

    Legal
      representative (or authorized person): /s/ Authorized Person

    

    Party
      B
      Xiamen University (Seal)

    Legal
      representative (or authorized person): /s/ Authorized Person 

    Date:
      April 30th,
      2008

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Annex
      1

    Introduction
      of Xiamen University

     

    Xiamen
      University was founded in 1921 by Tan Kah Kee, the well-known patriotic overseas
      Chinese leader. It was the first university in China founded by an overseas
      Chinese. At present it is the only university in any of five special economic
      zones and is one of China’s higher-level universities designated for the state
      key construction of the “211 Project” and the “985 Project”. Currently,
      Professor Zhu Chongshi is the President of the University and Professor Zhu
      Zhiwen is the Chairman of the University Council.

     

    Over
      the
      past eighty -six years, as the result of following the school motto: Pursue
      Excellence, Strive for Perfection, Xiamen University has accumulated rich
      experience in offering its educational programs and has presented its
      distinctive features in running the programs. Equipped with a strong team of
      faculty and staff, Xiamen University, which provides a fairly complete range
      of
      programs of education, has become a first-class comprehensive university in
      China with extensive international influence. Since its founding, Xiamen
      University has produced more than 150,000 undergraduates and graduates for
      the
      country and over 60 academicians of the Chinese Academy of Sciences (CAS) and
      the Chinese Academy of Engineering (CAE) have studied or worked at Xiamen
      University.

    

    Xiamen
      University has 9 graduate school and 22 schools containing 58 departments. With
      14 Doctoral degrees in first -class disciplines, and 17 Master degrees in
      first-class disciplines, the university offers 79 undergraduate programs, 219
      graduate programs, and 134 PhD programs. with 5 subjects have been assessed
      and
      awarded as “the first-class national key disciplines” and 9 have been assessed
      and awarded as “the second-class national key disciplines” covering 38
      second-class national key disciplines. There are 15 Post doctoral research
      centers,9 subjects of “national educational centers for talents”, 11 subjects
      listed among the state key disciplines in the "211 Project” construction during
      the period of the ninth Five-year plan, 11 subjects listed among the state
      key
      disciplines in the "211 Project” construction during the period of the tenth
      Five-year plan and11 subjects listed among the innovation research bases in
      the
      second phase of the “985 Project”.

    

    Xiamen
      university has a high level team of faculty and staff including 2,337 full-time
      faculty and professional researchers , 1,319 professors and associate professors
      accounting for 56.4% of the total faculty, including 1103 doctors accounting
      for
      47.2%, 1727 young employees below 45 accounting for 73.9%. 20 are academicians
      of CAS and CAE (11 are academicians of both CAS and CAE). Moreover, 7 faculty
      members of Xiamen University are seated on the State Council's Academic Degree
      Appraisal Committee. 14 are state experts with outstanding contribution.12
      have
      been listed in the "One-hundred plus One-thousand plus Ten-thousand Talent
      Project”; 68 have been included in the Ministry of Education's training program
      for the "Leading Figure for the New Century";22 have obtained the "Science
      Grant
      for National Outstanding Youth" from the state; There are 12 special and 9
      speech professorships of “Yangtze Scholar” , 4 winners of National Award for
      Distinguished Teacher of High Education, 3 “National Innovation Research Team”
and 3 “Education Ministry Innovation Group” .

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    The
      university now has a total enrollment of over 36,410 full-time students on
      campus, including 20,824 undergraduates, 13,349 master students, 2,237 doctoral
      students, and over 2000 international students. The ratio of undergraduates
      to
      master students is 1.4:1. The university has won 5 first prizes and 12 second
      prizes in the fourth and fifth China Higher Education National Level Teaching
      Achievement Award. It has been listed in the leading universities in China.
      In
      the end of 2005, Xiamen University received a straight-A score in the
      undergraduate level Teaching Appraisal organized by the Ministry of Education.
      The graduates of Xiamen University are popular employees in society and the
      employment rate reaches 96%. 

     

    Xiamen
      University has set up over 120 research institutions, including 2 State Key
      Laboratories, 1 State Engineering Research Center, 4 Education Ministry Key
      Laboratories , 2 Education Ministry Engineering Technology Centers, 5 state
      key
      research bases in humanities and social science, 5 Fujian Province Key
      Laboratories and Centers, 20 Fujian Province High Education Key Laboratories
      and
      bases in humanities and social science,5 Xiamen Municipal Engineering Research
      Centers and 1 State University Science Park. In the past four years, 4 research
      reports were published in the international Science and Nature journal and
      2
      scientific research findings won the Second Class Prize of National Natural
      Science Award in 2006. Xiamen University has strong potentiality in human and
      science research. Taiwan studies, Southeast Asian studies, economic studies,
      and
      accounting studies are at the highest tier among domestic universities. The
      number of Social Science Fund Project in 2006 and 2007 ranked the sixth and
      eighth among high education institutes in China Education, The number of
      Ministry human and science research ranked the second among high education
      universities and institutes in China in 2007. 19 research achievements won
      the
      Award for Research Achievements in the Humanities and Social Sciences of
      the Ministry of Education.

    

    Xiamen
      University has inter-university cooperative ties with over 100 institutions
      of
      higher education at home and abroad. Xiamen University has formally established
      multi-lateral cooperative relationship with eight other universities around
      the
      world by signing the Agreement on Global U8 Consortium. Because of its
      especially favorable geographical location and advantageous human resources,
      it
      is the key university most actively engaged in Taiwan Research and cross-straits
      educational exchanges.

    

    Xiamen
      University has perfect teaching, research equipments and public service system.
      At present, Xiamen University covers over 5,000 Mu. The main campus locates
      at
      the south of Xiamen Island, covering 2,500 Mu, and Zhangzhou Campus covers
      2568
      Mu. Xiamen Universtiy has a constructed area of 1300,000 square meters, and
      its
      libraries hold 4.6 million volumes (including 1.5 million electronic volumes).
      It has fixed assets of 2.5 billion yuan and instruments and equipments of 900
      million yuan. The facility of the student dormitory meets basically the
      requirements of “421” in the end of 2005. The scope and level of its high-speed
      information network on campus is rated at the top of all universities in China
      and has become the one of the main injunctions of CERNET2.With green hills
      behind and fronting the sea, Xiamen University is recognized as one of the
      most
      beautiful universities in China. 

    

    Xiamen
      University is now making great strides towards its goal of "building a
      high-level university well-known both at home and abroad." 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    Annex
      2

    

    Brief
      Introduction to College of Chemistry and Chemical Engineering

    at
      Xiamen University

    

    College
      of Chemistry and Chemical Engineering at Xiamen University was established
      on
      the basis of the Department of Chemistry in 1991. Academician Qian-Er ZHANG,
      Hui-Lin WAN has been the director of the College in sequence. Department of
      Chemistry, one of the earliest departments at Xiamen University, was founded
      in
      1922 with
      Professor Shuqi Liu who had studied in America and obtained a doctor degree
      as
      the first dean of the department. The teacher strength of Department of
      Chemistry has always been strong, Yufeng Ji, Ying Fu, Jiaxi Lu, Liusheng Cai,
      Renyuan Qian, Guozhen Chen, and other well-known Chinese Academy of Sciences
      or
      the former professor or the academic committee member have taught here for
      Chemistry therefore they have laid A solid foundation for the development of
      the
      Department of Chemistry and set an excellent academic tradition. After
      successive efforts of chemists and educators, Department of Chemistry of Xiamen
      University has become one of the leading centers in China and world-renowned
      training and scientific research base for chemical talents.

    

    College
      of Chemistry and Chemical Engineering consists of Department of Chemistry,
      the
      Department of Chemical and Biochemical Engineering and the Department of
      Materials Science & Engineering; the original Department of Materials has
      developed into a college in 2007. College of Chemistry and Chemical Engineering
      has State Key Laboratory of Solid Surface Physical Chemistry Laboratory, Key
      Laboratory of Ministry of Education on Modern Scientific Analysis, Key
      Laboratory of Fujian Provincial on Chemical Biology and other scientific
      research institutions or affiliate institutes. 

    

    The
      College has 280 staffs, including 149 teachers, 93 professional and technical
      personnel, 38 party and government and logistics personnel, 67 professors,
      50
      associate professors; among them 75.8 percent have doctorate degrees, 74.7
      percent are under the age of 50. 

    

    The
      College has first
      level
      discipline of the state, key discipline of Fujian Province on industrial
      catalysis, Master & Doctor's degree granting units and Post-Doctoral Program
      on first level discipline, Master & Doctor's degree granting units on
      industrial catalysis, Master's degree granting units on environmental chemistry
      and polymer chemistry. The Master Degree Program of Polymer Chemistry begins
      in
      2003. The College enrolls 2182 graduate students, among which 275 in doctoral
      program, 509 in master program, 1398 undergraduate students.

    

    Based
      on
      reasonable structure and teaching staff in comprehensive disciplines, by taking
      advantage of the opportunity of construction “211Projects” and “985Projects”,
      the College have achieved substantial development on construction of discipline
      and scientific research. It has made a breakthrough on the number of theses
      published on Science. In recent years, it has made great improvement in
      industrialized construction bases.

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