  CCD photometric observations in VRI colors and spectroscopic observations of
the newly discovered eclipsing binary GSC 2314-0530 (NSVS 6550671) with dMe
components and very short period of P=0.192636 days are presented. The
simultaneous light-curve solution and radial velocity solution allows to
determine the global parameters of GSC 2314-0530: T_{1}=3735 K; T_{2}=3106 K;
M_{1}=0.51 M_sun; M_{2}=0.26 M_sun; R_{1}=0.55 R_sun; R_{2}=0.29 R_sun;
L_{1}=0.053 L_sun; L_{2}=0.007 L_sun; i=72.5 degr; a=1.28 R_sun; d=59 pc. The
chromospheric activity of its components is revealed by strong emission in the
H_alpha line (with mean EW=5 A) and observed several flares. Empirical
relations mass-M_{bol}, mass-radius and mass-temperature are derived on the
basis of the parameters of known binaries with low-mass dM components.
