SHORT TERM BANK LOANS

9 Months Ended

Sep. 30, 2010

SHORT TERM BANK LOANS

SHORT TERM BANK LOANS

Note 13- Short Term Bank Loans

Short-term bank loans consist of the following:

	September 30,		December 31,
	2011		2010
6.372% one-year term loan from Bank of China, signed on October 8, 2010, which is to be repaid in full by October 8, 2011. The loan is guaranteed by real estate of Anyang Century Plaza Century Real Estate Development Co., Ltd. Interest was paid quarterly.	$	469,500	$	455,100
6.672% one-year term loan from Bank of China, signed on November 9, 2010, which is to be repaid in full by November 9, 2011. The loan is guaranteed by real estate of Anyang Century Plaza Century Real Estate Development Co., Ltd. Interest was paid quarterly.		313,000		303,400
6.1160% one-year term loan from Zhengzhou Branch of Shanghai Pudong Development Bank, signed on November 18, 2010, which is to be repaid in full by November 18, 2011. The loan is guaranteed by 70% of the paid-up capital of $500 and rights to use land of Henan Small & Medium Enterprises Investment Guaranty Co., Ltd. Interest was paid monthly.		782,500		758,500
Total	$	1,565,000	$	1,517,000