EXHIBIT 21

                         SUBSIDIARIES OF THE REGISTRANT



                                                             Jurisdiction of Incorporation
Name of Subsidiary                                                  of  Organization
- ------------------                                           ------------------------------
                                                            
Guoxi Holding Limited ("GHL")(1)                                 British Virgin Islands

Jiangxi SheTai Jade Industrial Co., Ltd. ("JST") (2)           Peoples Republic of China


      (1)   GHL is wholly owned by the Company.

      (2)   JST is wholly owned by GHL.