Exhibit 12.1

XINYUAN REAL ESTATE CO., LTD.

Computation of Ratio of Earnings (before fixed charges) to Fixed Charges

	2004		2005		2006		2007		2008			6 Months Ended June 30, 2009
Pre-tax income/(loss) from continuing operations before adjustment for minority interests	$	5,895,147	$	14,795,709	$	27,283,762	$	66,692,416	$	(22,753,526	)	$	8,782,921
Add fixed charges
Interest expense		820,149		834,469		727,041		3,204,011		—			—
Interest capitalized		481,977		890,621		1,482,299		11,261,835		32,247,680			16,736,624
Estimate of the interest within rental expense		288		1,435		3,223		20,413		49,205			17,431
Total fixed charges		1,302,414		1,726,525		2,212,563		14,486,259		32,296,885			16,754,055
Total of pre-tax income/(loss) from continuing operations before adjustment for minority interests plus fixed charges		7,197,561		16,522,234		29,496,325		81,178,675		9,543,359			25,536,976
Less interest capitalized		481,977		890,621		1,482,299		11,261,835		32,247,680			16,736,624
Add amortization of capitalized interest (amount of previously capitalized interest amortized to expense during the period)		481,977		890,621		1,482,299		4,371,632		9,850,674			7,206,621
Earnings (before fixed charges)		7,197,561		16,522,234		29,496,325		74,288,472		(12,853,647	)		16,006,031
Ratio of earnings (before fixed charges) to fixed charges		5.53		9.57		13.33		5.13		—			.96
Deficiency of earnings (before fixed charges) to fixed charges		—		—		—		—	$	45,150,532			—