<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-C
REPORT BY ISSUER OF SECURITIES QUOTED ON NASDAQ
INTERDEALER QUOTATION SYSTEM
FILED PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 AND RULE 13a-17
OR 15d-17 THEREUNDER
China Resources Development, Inc.
-------------------------------------------------
(Exact name of issuer as specified in charter)
23/F Office Tower, Convention Plaza
1 Harbour Road, Wanchai, Hong Kong
-------------------------------------------------
(Address of principal executive offices)
Issuer's telephone number, including area code 011-852-2537-6689
---------------------------------
I. CHANGE IN NUMBER OF SHARES OUTSTANDING
Indicate any change (increase or decrease) of 5% or more in the number
of shares outstanding:
1. Title of security Common Stock, par value $0.001 per share
---------------------------------------------------------
2. Number of shares outstanding before the change 82,833,414
-----------------------------
3. Number of shares outstanding after the change 89,789,968
-----------------------------
4. Effective date of change December 13, 1996
--------------------------------------------------
5. Method of change:
Specify method (such as merger, acquisition, exchange, distribution,
stock split, reverse split, acquisition of stock for treasury, etc.)
Issuance of Common Stock upon conversion of Series B Convertible
------------------------------------------------------------------
Preferred Stock.
------------------------------------------------------------------
Give brief description of transaction Holders of shares of the
---------------------------------
Issuer's Series B Convertible Preferred Stock converted shares
------------------------------------------------------------------
of such stock into Common Stock.
------------------------------------------------------------------
II. CHANGE IN NAME OF ISSUER
1. Name prior to change
--------------------------------------------------------
2. Name after change
-----------------------------------------------------------
3. Effective date of charter amendment changing name
---------------------------
4. Date of shareholder approval of change, if required
-------------------------
Date December 23, 1996 /s/ Tam Cheuk Ho
---------------------- ------------------------------------
Tam Cheuk Ho, Chief Financial Officer
