Sales and Purchase Agreement between China Teletech Holding, Inc. and Mr. Zhu Sui Hui (June 30, 2012)

Summary

China Teletech Holding, Inc. has agreed to sell its subsidiary, Guangzhou Global Telecommunication Company Limited, to Mr. Zhu Sui Hui for CNY5,000. Both parties have also agreed to unconditionally waive any outstanding accounts payable or receivable between China Teletech Holding, Inc. (and its subsidiaries) and Guangzhou Global Telecommunication Company Limited. The agreement is effective as of June 30, 2012.

EX-10.1 2 exh10-1.htm SALES AND PURCHASE AGREEMENT BY AND BETWEEN THE COMPANY AND MR. ZHU SUI HUI DATED JUNE 30, 2012 Q2 2012 Exhibit 10.1 EXHIBIT 10.1

Sales and Purchase Agreement

Date: June 30, 2012

China Teletech Holding, Inc. ("we" or the "Seller") agreed to sell Guangzhou Global Telecommunication Company Limited to Mr. Zhu Sui Hui ("the Buyer") for CNY5,000. Both the Buyer and the Seller agreed unconditionally to waive the current accounts payable or receivable balances between China Teletech Holding, Inc. (and its subsidiaries) and Guangzhou Global Telecommunication Company Limited.

Seller:

China Teletech Holding, Inc.

By:	/s/ Yankuan Li
Name:	Yankuan Li

Buyer:

By:	/s/ Zhu Sui Hui
Name:	Zhu Sui Hui