On the wall underwater, below the tunnel where you just came in, is a lever. Pull it to open a trapdoor back at the other end of the tunnel near the fan. Come up to refill Lara's air meter. Then swim back along the tunnel.
Just before the end where you came in, you'll see the trapdoor you just opened. Swim down through this opening and to the right.
Continue forward along a short passage. Then swim upward to find SECRET #1, the Jade Dragon, sitting behind the huge fan.
Grab it, roll and swim back down into the tunnel.
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