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<SEC-DOCUMENT>0000950144-97-000665.txt : 19970128
<SEC-HEADER>0000950144-97-000665.hdr.sgml : 19970128
ACCESSION NUMBER:		0000950144-97-000665
CONFORMED SUBMISSION TYPE:	10-C
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	19970116
FILED AS OF DATE:		19970127
SROS:			NASD

FILER:

	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:		10-C
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-26046
		FILM NUMBER:		97511575

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>10-C
<SEQUENCE>1
<DESCRIPTION>CHINA RESOURCES DEVELOPENT, INC. FORM 10-C
<TEXT>

<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     89,789,968
                                                   -----------------------------

3. Number of shares outstanding after the change     5,778,997
                                                  ------------------------------

4. Effective date of change     January 16, 1997
                             ---------------------------------------------------
                             
5. Method of change:

        Specify method (such as merger, acquisition, exchange, distribution,
        stock split, reverse split, acquisition of stock for treasury, etc.)

              One-for-ten reverse split and exchange of 32,000,000 pre-reverse
              ------------------------------------------------------------------
              restricted common shares for 3,200,000 preferred shares with
              ------------------------------------------------------------------
              equivalent terms. 
              ------------------------------------------------------------------


        Give brief description of transaction    Shareholder-approved reverse
                                               ---------------------------------
              split was implemented on 01/16/97, and shares of restricted
              ------------------------------------------------------------------
              common were exchanged for preferred shares with equivalent terms.
              ------------------------------------------------------------------

                         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   January 26, 1997                      /s/   Tam Cheuk Ho
    ----------------------                  ------------------------------------
                                            Tam Cheuk Ho, 
                                            Chief Financial Officer


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