Domestic Factoring Agreement
| Summary Translation | Exhibit 4.50 |
Contract No. : ABC(2012)1011-1: 13062020120000129
Borrower : Shijie Kaiyuan Auto Trade Co., Ltd.
Lender : Agricultural Bank of China Shijiazhuang North City Branch
Signing Date : August 16, 2012
Loan Amount : RMB20,000,000
Length of maturity : From August 16, 2012 to February 10, 2013
Use of Loan : Vehicle Purchases
Loan Interest : 5.60%
Date of Draft :August 16, 2012
Withdrawal Amount : RMB20,000,000
Payment Method : Repayments of the loan and interest shall be in accordance with the Transfer Schedule of Accounts Receivable attached hereto on maturity.
Repayment Date :February 10, 2013
Transfer Schedule of Accounts Receivable : Ganglian Finance Leasing Co., Ltd. will transfer a total amount of RMB 50,012,860 to ABC Shijiazhuang North City Branch on February 10, 2013.
