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January 3, 2005

China Finance signs contract with online payment processing firm

China Finance, Inc., a China-based provider of surety and loan guarantees to China's large and rapidly expanding class of small and medium enterprises, has signed a surety guarantee contract with Shenzhen ChaseTop Technology Limited to guarantee its successful reverse merger to become a US public company.

By CBR Staff Writer

Shenzhen ChaseTop Technology Limited provides an online payment platform for e-business transactions. The company’s Network Payment System (NPS) has a security authentication solution that is supported by most of the banks in China and their banking cards and service terminals.

China Finance conducted extensive due diligence and background investigation for Shenzhen ChaseTop Technology, which will expedite the completion of the transaction. CFI will receive up to eight percent of the equity from Shenzhen ChaseTop Technology Limited after the transaction is closed.

Shunpeng Ye, CEO of Shenzhen ChaseTop Technology Limited, commented that: Our continued growth will only be accelerated by our secure entrance into the US capital markets. Utilizing CFI’s guarantee services will help us reduce our risk and exposure as a US public company rather than trying to achieve this goal without the proper due diligence and support.

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