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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000950144-96-004154.txt : 19960712
<SEC-HEADER>0000950144-96-004154.hdr.sgml : 19960712
ACCESSION NUMBER:		0000950144-96-004154
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19960711
SROS:			NASD

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHINA RESOURCES DEVELOPMENT INC
		CENTRAL INDEX KEY:			0000793628
		STANDARD INDUSTRIAL CLASSIFICATION:	WHOLESALE-MISCELLANEOUS NONDURABLE GOODS [5190]
		IRS NUMBER:				870263643
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26046
		FILM NUMBER:		96593248

	BUSINESS ADDRESS:	
		STREET 1:		244O S PROGRESS DR
		CITY:			SALT LAKE CITY
		STATE:			UT
		ZIP:			84119
		BUSINESS PHONE:		8019722887

	MAIL ADDRESS:	
		STREET 1:		C/O BAKER & HOSTETLER
		STREET 2:		P O BOX 112
		CITY:			ORLANDO
		STATE:			FL
		ZIP:			32802

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MAGENTA CORP
		DATE OF NAME CHANGE:	19940217
<REPORTING-OWNER>

COMPANY DATA:	
	COMPANY CONFORMED NAME:			EVERBRIGHT FINANCE & INVESTMENT CO LTD
	CENTRAL INDEX KEY:			0001018510
	STANDARD INDUSTRIAL CLASSIFICATION:	 []
<RELATIONSHIP>DIRECTOR

FILING VALUES:
	FORM TYPE:		4

BUSINESS ADDRESS:	
	STREET 1:		23/F OFFICE TOWER , CONVENTION PLZ
	STREET 2:		1 HARBOR RD
	CITY:			WANCHAI HONG KONG

MAIL ADDRESS:	
	STREET 1:		C/O BAKER & HOSTETLER
	STREET 2:		PO BOX 112
	CITY:			ORLANDO
	STATE:			FL
	ZIP:			32802-0112
</REPORTING-OWNER>
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<DESCRIPTION>CHINA RESOURCES DEVELOPMENT
<TEXT>

<PAGE>   1
- ------                                                                         
FORM 4                                                                         
- ------                                                                         
                                                                               
                                                                               

                                 U.S. SECURITIES AND EXCHANGE COMMISSION
                                          WASHINGTON, DC 20549
                                       
                               STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
/X/ Check this box if no                                                     
    longer subject to         Filed pursuant to Section 16(a) of the Securities 
    Section 16. Form 4            Exchange Act of 1934, Section 17(a) of the 
    or Form 5 obligations         Public Utility Holding Company Act of 1935
    may continue. See              or Section 30(f) of the Investment Company
    Instruction 1(b).                           Act of 1940               

<TABLE> 
<S>                             <C>            <C>                        <C>                <C>          <C>            <C>   
- ------------------------------------------------------------------------------------------------------------------------------------
 1. Name and Address of Reporting Person       2. Issuer Name and Ticker or Trading Symbol   6. Relationship of Reporting Person to
    EVERBRIGHT FINANCE & INVESTMENT CO. LIMITED   CHINA RESOURCES DEVELOPMENT, INC. CHRB         Issuer (Check all applicable)
- ---------------------------------------------------------------------------------------------       Director       X 10% Owner
  (Last)          (First)          (Middle)    3. IRS or Social Security  4. Statement for      ----              ---
  23/F., Office Tower                             Number of Reporting        Month/Year             Officer (give    Other (Specify
  Convention Plaza                                Person (Voluntary)           06/96            ----        title ---       below)
  1 Harbour Road                                                          -------------------               below)
- ---------------------------------------------         N/A                 5. If Amendment, 
                 (Street)                                                    Date of Original          
                                                                             (Month/Year)   N/A        ------------------------
 Wanchai, Hong Kong   
- ------------------------------------------------------------------------------------------------------------------------------------
  (City)           (State)           (Zip)     TABLE 1 -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
- ------------------------------------------------------------------------------------------------------------------------------------
 1. Title of Security           2. Trans-   3. Transac-  4. Securities Acquired (A)  5.  Amount of Se-    6. Owner-      7. Nature  
  (Instr. 3)                       action      tion         or Disposed of (D)           curities Benefi-    ship           of In-  
                                   Date        Code         (Instr. 3, 4 and 5)          cially Owned at     Form:          direct  
                                               (Instr. 8)                                End of Month        Direct         Benefi-
                                  (Month/                                                (Instr. 3 and 4)    (D) or         cial
                                   Day/   ---------------------------------------                            Indirect       Owner- 
                                   Year)  Code    V      Amount   (A) or    Price                            (I)            ship   
                                                                  (D)                                        (Instr. 4)     (Instr.
                                                                                                                            4)     

- ------------------------------------------------------------------------------------------------------------------------------------
 Series A Preferred Stock,       06/10/96  P            5,216,000  A         $1.00        6,400,000 shs.         D           N/A
- ------------------------------------------------------------------------------------------------------------------------------------
   $1.00 par value
- ------------------------------------------------------------------------------------------------------------------------------------

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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.         

                                                                               (Print or Type Responses)            
 
</TABLE>
<PAGE>   2
<TABLE>
<CAPTION>
                                                                                                                                
 
FORM 4 (CONTINUED)        TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
                                  (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)

<S>                       <C>          <C>        <C>         <C>              <C>             <C>                   <C>          
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative    2. Conver-   3. Trans-  4. Trans-   5. Number of     6. Date Exer-   7. Title and Amount   8. Price     
   Security                  sion or      action     action      Derivative       cisable and     of Underlying         of        
   (Instr. 3)                Exercise     Date       Code        Securities Ac-   Expiration      Securities            Deriv-    
                             Price of     (Month/    (Instr. 8)  quired (A) or    Date            (Instr. 3 and 4)      ative     
                             Deriv-       Day/                   Disposed of (D)  (Month/Day/                           Secur-    
                             ative        Year)                  (Instr. 3, 4,    Year)                                 ity       
                             Security                            and 5)                                                 (Instr. 5)
                                                                               -----------------------------------             
                                                                               Date    Expira-            Amount or            
                                                    -------------------------- Exer-   tion       Title   Number of            
                                                    Code  V     (A)     (D)    cisable Date               Shares               
- ------------------------------------------------------------------------------------------------------------------------------------

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

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

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

- ------------------------------------------------------------------------------------------------------------------------------------
<S>                          <C>                    <C>                         <C>                              
1. Title of Derivative       9. Number of           10. Ownership               11. Nature of                              
   Security                     Derivative              Form of                     Indirect                     
   (Instr. 3)                   Securities              Derivative                  Beneficial                   
                                Beneficially            Security:                   Ownership                    
                                Owned at End            Direct (D)                  (Instr. 4)                   
                                of Month                or Indirect (I)                                          
                                (Instr. 4)              (Instr. 4)                                               
                                                                                 
- -------------------------------------------------------------------------------------------------------

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Explanation of Responses:
 
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations.    EVERBRIGHT FINANCE &
  See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).                                                  INVESTMENT CO. LIMITED         07/10/96
                                                                                             ------------------------------ --------
                                                                                             **Signature of Reporting Person  Date
                                         

Note. File three copies of this Form, one of which must be manually signed.                                         
      If space provided is insufficient, see Instruction 6 for procedure.                    By: /s/ Zhang Yibing
                                                                                                 --------------------------
                                                                                                 Zhang Yibing, Director
                                                                                                 and Authorized Signatory
</TABLE>                                                                      

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