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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0000950144-96-006200.txt : 19960911
<SEC-HEADER>0000950144-96-006200.hdr.sgml : 19960911
ACCESSION NUMBER:		0000950144-96-006200
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		19960910
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:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26046
		FILM NUMBER:		96628155

	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>OWNER
	IRS NUMBER:				000000000

FILING VALUES:
	FORM TYPE:		3

BUSINESS ADDRESS:	
	STREET 1:		23/F OFFICE TOWER , CONVENTION PLZ
	STREET 2:		1 HARBOR RD
	CITY:			WANCHAI HONG KONG
	STATE:			K3

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>3
<SEQUENCE>1
<DESCRIPTION>CHINA RESOURCES DEVELOPMENT, INC. FORM 3
<TEXT>

<PAGE>   1

- --------                                                                       
 FORM 3                                                                        
- --------                                                                       
                                                                               

                    U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, DC 20549

            INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f)
                     of the Investment Company Act of 1940


<TABLE>
<S>                                        <C>                           <C>                                 <C>                 
- ------------------------------------------------------------------------------------------------------------------------------------
1. Name and Address of Reporting Person*    2. Date of Event Requiring  4. Issuer Name and Ticker or          6. If Amendment, Date 
EVERBRIGHT FINANCE & INVESTMENT CO. LIMITED    Statement                    Trading Symbol                            of Original
- ----------------------------------------      (Month/Day/Year)          China Resources Development, Inc. (CHRB)    (Month/Day/Year)
     (Last)     (First)     (Middle)             08/31/96                  ----------------------------------------      N/A
23/F, Office Tower, Convention Plaza       ---------------------------- 5. Relationship of Reporting         -----------------------
1 Harbour Road                             3. IRS or Social Security         Person to Issuer                7. Individual or Joint/
- ----------------------------------------      Number of Reporting          (Check all applicable)               Group Filing (Check
             (Street)                         Person (Voluntary)              Director     X    10% Owner       applicable line)
Wanchai, Hong Kong                                  N/A                 -----            -----                 X    Form filed by
- --------------------------------------     ----------------------------       Officer           Other        -----  One Reporting
      (City)      (State)      (Zip)                                    ----- (give      -----  (specify            Person
                                                                              title below)      below)              Form filed by
                                                                                                             -----  More than One
                                                                        ----------------------------------          Reporting Person
- ------------------------------------------------------------------------------------------------------------------------------------
                                      TABLE 1 -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
- ------------------------------------------------------------------------------------------------------------------------------------
 1. Title of Security                         2. Amount of Securities         3. Ownership Form:         4. Nature of Indirect     
    (Instr. 4)                                   Beneficially Owned              Direct (D) or              Beneficial    
                                                 (Instr. 4)                      Indirect (I)               Ownership (Instr. 4)
                                                                                 (Instr. 5)                 
- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock, $0.001 par value                   33,998,000 shares                D                         N/A
- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------
Common Stock, $0.001 par value                    1,350,000 shares                I                         **
- ------------------------------------------------------------------------------------------------------------------------------------

- ------------------------------------------------------------------------------------------------------------------------------------
Series A Preferred Stock                            -0-                      
- ------------------------------------------------------------------------------------------------------------------------------------
       $1.00 par value
- ------------------------------------------------------------------------------------------------------------------------------------

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*If the form is filed by more than one Reporting Person, see Instruction 5(b)(v).
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.                   (Over)
                                                                               (Print or Type Responses)                      (8/96)
**By 50% interest in Silverich Limited
</TABLE>
                 
<PAGE>   2
 
<TABLE>
<CAPTION>
 
FORM 3 (CONTINUED)               TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
                            (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
 
<S>                              <C>                <C>                            <C>           <C>         <C>        
- ------------------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative Security  2. Date            3. Title and Amount of         4. Conver-    5. Owner-   6. Nature of Indirect
   (Instr. 4)                       Exercisable and    Securities Underlying          sion or       ship        Beneficial Ownership
                                    Expiration Date    Derivative Security            Exercise      Form of     (Instr. 5)          
                                    (Month/Day/        (Instr. 4)                     Price of      Deriv-                         
                                    Year)                                             Deri-         ative                          
                                                                                      vative        Security:                      
                                                                                                                                   
                                 -------------------------------------------------    Security      Direct                         
                                 Date      Expira-                       Amount or                  (D) or                         
                                 Exercis-  tion             Title        Number                     Indirect (I)                   
                                 able      Date                          of Shares                  (Instr. 5)                     
                                                                                                                                   
- ------------------------------------------------------------------------------------------------------------------------------------

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

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

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

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

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

- ------------------------------------------------------------------------------------------------------------------------------------
Explanation of Responses:

Table I, Col. 2 - Reporting Person exchanged 6.4 million             EVERBRIGHT FINANCE & INVESTMENT CO. LIMITED    09/10/96       
shares of Series A Preferred Stock for 32 million shares             -------------------------------------------    ------------   
of the Issuer's authorized but previously unissued Common            **Signature of Reporting Person                     Date     
Stock with significant restrictions.                                                                             
                                                                                                                                   
**Intentional misstatements or omissions of facts constitute Federal Criminal                                                      
  Violations.  See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).             
                                                                     By:  /s/ Zhang Yibing
                                                                          --------------------------------------
                                                                          Zhang Yibing, Director and
                                                                          Authorized Signatory
                                                                                                                                   
Note. File three copies of this form, one of which must be manually signed.                                              Page 2
  If space provided is insufficient, See Instruction 6 for procedure.                                                    (8/96)
                                                                                                                                 
                                                     (Print or Type Responses)
</TABLE>
 
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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