SUBSIDARIES

• Qingdao Hongdao Development Construction Group
• Qingdao Chengxiang Construction Investment Group
• Qingdao Chengxiang Construction Financing Guarantee Company
• Qingdao Jiaozhouwan Development (Group) Co, LTD
• QCCI TOURISM GROUP
• QCCI Real Estate Development Co, LTD
• QCCI Road & Bridge Investment Co, LTD
• QCCI Industrial Co, LTD
• QCCI Educational Investment Co, LTD
• China Qingdao Development (Holdings) Group Company Limited
• Hongkong International (Qingdao) Company Limited