PROXY AGREEMENT This Shareholders' Voting Rights Proxy Agreement (the "Agreement") is entered into as of November 1, 2005, in Zhejiang among the following parties PARTY A: Capital Future Development Limited Capital Future Development Limited(1)<

                                                                    Exhibit 10.3

                                 PROXY AGREEMENT

This  Shareholders'  Voting Rights Proxy Agreement (the  "Agreement") is entered
into as of November 1, 2005, in Zhejiang among the following parties

PARTY A:

              Capital Future Development Limited
              Capital Future Development Limited(1)<