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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0001026700-02-000210.txt : 20020827
<SEC-HEADER>0001026700-02-000210.hdr.sgml : 20020827
<ACCEPTANCE-DATETIME>20020827170111
ACCESSION NUMBER:		0001026700-02-000210
CONFORMED SUBMISSION TYPE:	PRE 14C
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20020827
FILED AS OF DATE:		20020827

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHINA GLOBAL DEVELOPMENT INC
		CENTRAL INDEX KEY:			0000846475
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
		IRS NUMBER:				870403828
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		PRE 14C
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-26787-D
		FILM NUMBER:		02749901

	BUSINESS ADDRESS:	
		STREET 1:		440 LOUISIANA 475
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77002
		BUSINESS PHONE:		7135478900

	MAIL ADDRESS:	
		STREET 1:		SEVENTH DISTRIC NORTH
		STREET 2:		CHUNG PING REGION
		CITY:			BEIJING CHINA
		STATE:			F5
		ZIP:			00000

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MEDIA USA INC
		DATE OF NAME CHANGE:	19940209

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VALIANT CORPORATION
		DATE OF NAME CHANGE:	19940209

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LIFE MEDICAL TECHNOLOGIES INC /UT/
		DATE OF NAME CHANGE:	19960330

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	IBONZAI COM INC
		DATE OF NAME CHANGE:	20000814
</SEC-HEADER>
<DOCUMENT>
<TYPE>PRE 14C
<SEQUENCE>1
<FILENAME>pre14c_82702.txt
<TEXT>
                            SCHEDULE 14C INFORMATION

               Information Statement Pursuant to Section 14(c) of
                       the Securities Exchange Act of 1934

Check the appropriate box:

/X/   Preliminary Information Statement

/  /  Confidential, for Use of the Commission Only (as permitted by Rule
      14c-5(d)(2))

/  /  Definitive Information Statement

                         CHINA GLOBAL DEVELOPMENT, INC.
                ------------------------------------------------
                (Name of Registrant As Specified In Its Charter)

Payment of Filing Fee (Check the appropriate box):

/X/      No fee required

/  /     Fee computed on table below per Exchange Act Rules 14c-5(g) and 0-11

         (1)   Title of each class of securities to which transaction applies:

               -------------------------------------------------

         (2)   Aggregate number of securities to which transaction applies:

               -------------------------------------------------

         (3)   Per unit price or other underlying value of transaction
               computed pursuant to Exchange Act Rule 0-11 (set forth the
               amount on which the filing fee is calculated and state how it
               was determined):

               -------------------------------------------------

         (4)   Proposed maximum aggregate value of transaction:

               -------------------------------------------------

         (5)   Total fee paid:

               -------------------------------------------------

/  /     Fee paid previously with preliminary materials.

/        / Check box if any part of the fee is offset as provided by Exchange
         Act Rule 0-11(a)(2) and identify the filing for which the offsetting
         fee was paid previously. Identify the previous filing by registration
         statement number, or the Form or Schedule and the date of its filing.

         (1)    Amount Previously Paid:

                -------------------------------------------------
         (2)    Form, Schedule or Registration Statement No.:

                -------------------------------------------------
         (3)    Filing Party:

                -------------------------------------------------
         (4)    Date Filed:


<PAGE>


                         CHINA GLOBAL DEVELOPMENT, INC.
                             Seventh District North
                                Chung-Ping Region
                                  Beijing, PRC

                    NOTICE OF SPECIAL MEETING OF STOCKHOLDERS
                        To be held on September 27, 2002


To the stockholders of China Global Development, Inc.

     Notice is hereby  given  that a special  meeting of  stockholders  of China
Global  Development,  Inc. will be held on September 27, 2002 at 10:00  a.m.4766
Holladay Blvd., Holladay, Utah 84117 for the following purposes:


     Rescind the acquisition of Rainbow Light Global Corporation.

     Common  stockholders  of record on the close of business on  September  13,
2002 are  entitled to notice of the  meeting.  All  stockholders  are  cordially
invited to attend the meeting in person.


                                     By Order of the Board of Directors,



                                     /s/  Michael Zheng
                                     -------------------------------------
                                     Michael Zheng
                                     Chief Executive Officer and Director

                                     August 27, 2002


<PAGE>

                         CHINA GLOBAL DEVELOPMENT, INC.
                             Seventh District North
                                Chung-Ping Region
                                  Beijing, PRC


                              INFORMATION STATEMENT
                                 August 27, 2002


     This Information  Statement is furnished by the Board of Directors of China
Global Development,  Inc. (the "Company") to provide notice of a special meeting
of stockholders of the Company which will be held on September 27, 2002.

     The record  date for  determining  stockholders  entitled  to receive  this
Information Statement has been established as the close of business on September
13, 2002 (the "Record Date"). This Information Statement will be first mailed on
or about  September 16, 2002 to  stockholders of record at the close of business
on the Record Date.  As of the Record Date,  there were  outstanding  17,106,248
shares of the Company's Common Stock.  The holders of all outstanding  shares of
Common Stock are entitled to one vote per share of Common  Stock  registered  in
their  names on the books of the  Company at the close of business on the Record
Date.

     The  presence  at the annual  meeting of the  holders of a majority  of the
outstanding  shares of Common  Stock  entitled to vote at the annual  meeting is
necessary  to  constitute  a quorum.  The Board of Directors is not aware of any
matters  that are  expected to come before the special  meeting  other than that
referred to in this Information Statement.

     The matter  scheduled  to come  before the  special  meeting  requires  the
approval of a majority of the votes of the shares outstanding. Michael Zheng and
persons  affiliated  with him own  15,000,000  shares or  87.68%,  of our Common
Stock,  and will be able to approve  the matter  presented  in this  Information
Statement.

     WE ARE NOT  ASKING YOU FOR A PROXY AND YOU ARE  REQUESTED  NOT TO SEND US A
PROXY.

Proposal 1

Rescind the acquisition of Rainbow Light Global Corporation

Background

     On  February  7, 2002,  China  Global  Development,  Inc.  (the  "Company")
acquired all of the issued and outstanding  shares of Rainbow Light  Corporation
("Rainbow"),  a British  Virgin  Islands  corporation in exchange for 15,000,000
shares  of the  Company's  commo  stock.  Rainbow  owns  95% of the  issued  and
outstanding  shares of Beijing  Baxian  Real  Estate  Development  Company  Ltd.
("Baxian"),  a People's  Republic  of China  corporation  engaged in real estate
development and marketing.

Rationale:

     When the  acquisition  was made,  Baxian was selling its inventory of homes
and generating substantial earnings and cash flow. However, Baxian's real estate
projects have been  substantially  completed and both its earnings and cash flow
have, for all practical purposes ceased. In addition,  Baxian is unable to begin
any new real estate projects without a substantial  cash infusion,  something it
has been unable to obtain and which the Company is unable to provide  within the
time frame required by Baxian. Because of this dilemma,  Baxian, Rainbow and the
Company have had entensive  discussions  as to the future course of the Company.
Based upon their discussions and upon mutual agreement of the Board of Directors
of each company, the parties believe that it is in their mutual best interest to
rescend  the  acquisition  of Rainbow  and cancel the  15,000,000  shares of the
Company  previously issued to the shareholders of Rainbow.  The Company believes
that following the  recission,  it will be able to find a new company to aquire,
or with which to merge.
<PAGE>


     A second and equally  compelling  reason to rescind the  transaction is the
difficulty that the Company has had in obtaining timely financial information on
Baxian.  This has already  impacted  the trading of the  Company's  shares twice
since  Rainbow  was  acquired,  an "E" has been placed on the  Comany's  trading
symbol.  Not  only  does  this  impact  trading  in the  Company's  shares,  but
shareholders  and  investors  are  unable to obtain  timely  information  on the
Company to make informed investment decisions.

     An  affirmative  vote of all  outstanding  shares  of  common  stock of the
Company is required for  approval of this  proposal.  Michael  Zheng and persons
affiliate with him own 15,000,000  shares,  or 87.68% of the shares  outstanding
and will be able to approve this approval. Therefore, abstentions,  non-votes or
votes against will have no effect on the outcome of this proposal.  The Board of
Directors recommendeds a yes vote on this proposal.

Other Matters

     The Board of Directors  does not intend to bring any other  matters  before
the Special  Meeting and has not been  informed that any other matters are to be
presented by others.

                                     BY ORDER OF THE BOARD OF DIRECTORS


                                     /s/ Michael Zheng
                                     -------------------------------------
                                     Michael Zheng
                                     Chief Executive Officer and Director


August 27, 2002

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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