English Translation) Loan Agreement
Exhibit 10.3
(English Translation)
Party A Xx. Xxxx Xuetian
Party B Tianjin Golden Dragon International Travel Service Co., Ltd
As of December 31st 2007, Party A borrowed from Party B totaling RMB 34,152,826 Yuan, which was used for market exploitation. The two parties negotiated and agreed that the loan was free of interest. Party A should repay RMB 9.5 million Yuan by the end of October 2008. For another part of the loan, amount to RMB 6.2 million Yuan, Party A planned to repay by netting off its profit distribution from Party B by the end of 2008. The two parties negotiated and agreed that the remaining loan was treated as distribution to Party A. The agreement is duplicated. Party A and Party B shall each take one copy.
Signature and seal of the two parties.
Party A
Yuan Xuetian
July 3rd 2008
Party B
Tianjin Golden Dragon International Travel Service Co., Ltd
July 3rd 2008
