Loan-term secured bank loan

6 Months Ended

Jun. 30, 2011

Loan-term secured bank loan

15.  Loan-term secured bank loan

The bank loan is denominated in Renminbi and has a 2-year term.  It carries interest at 0.495% per month and is guaranteed by (i) Ms. Zheng Luo, who did not receive any compensation for acting as guarantor; (ii) a third party, who received $19,072 from the Company for acting as guarantor and (iii) the property owned by Ms. Zheng Luo.

The long-term secured bank loan as of June 30, 2011 will be repayable in :-

Fiscal year ending on June 30,
2012	$	440,895
2013		719,355
	$	1,160,250