JOINT FILING AGREEMENT

Exhibit 1

JOINT FILING AGREEMENT

The undersigned hereby agree that they are filing this statement jointly pursuant to Rule 13d-1(k)(1). Each of them is responsible for the timely filing of such Schedule 13D and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate.

In accordance with Rule 13d-1(k)(1) promulgated under the Securities and Exchange Act of 1934, as amended, the undersigned hereby agree to the joint filing with each other on behalf of each of them of such a statement on Schedule 13D with respect to the common stock beneficially owned by each of them, of China Recycling Energy Corporation, a Nevada corporation. This Joint Filing Agreement shall be included as an Exhibit to such Schedule 13D.

IN WITNESS WHEREOF, the undersigned hereby execute this Joint Filing Agreement as of the 22nd day of August, 2011.


DBD Cayman Holdings, Ltd.

by:		/s/ David A. Willich,
		attorney in fact for David M. Rubenstein
Name:		David M. Rubenstein
Title:		Ordinary Member

DBD Cayman, Ltd.

by: DBD Cayman Holdings, Ltd., its sole shareholder

by:		/s/ David A. Willich,
		attorney in fact for David M. Rubenstein
Name:		David M. Rubenstein
Title:		Ordinary Member

TCG Holdings Cayman II, L.P.

by: DBD Cayman, Ltd., its general partner
by: DBD Cayman Holdings, Ltd., its sole shareholder

by:		/s/ David A. Willich,
		attorney in fact for David M. Rubenstein
Name:		David M. Rubenstein


Title:		Ordinary Member

TC Group Cayman Investment Holdings, L.P.

by: TCG Holdings Cayman II, L.P., its general partner
by: DBD Cayman, Ltd., its general partner
by: DBD Cayman Holdings, Ltd., its sole shareholder

by:		/s/ David A. Willich,
		attorney in fact for David M. Rubenstein
Name:		David M. Rubenstein
Title:		Ordinary Member

CAGP Ltd.

by: TC Group Cayman Investment Holdings, L.P., its sole shareholder
by: TCG Holdings Cayman II, L.P., its general partner
by: DBD Cayman, Ltd., its general partner
by: DBD Cayman Holdings, Ltd., its sole shareholder

by:		/s/ David A. Willich,
		attorney in fact for David M. Rubenstein
Name:		David M. Rubenstein
Title:		Ordinary Member

CAGP General Partner, L.P.

by: CAGP Ltd., its general partner
by: TC Group Cayman Investment Holdings, L.P., its sole shareholder
by: TCG Holdings Cayman II, L.P., its general partner
by: DBD Cayman, Ltd., its general partner
by: DBD Cayman Holdings, Ltd., its sole shareholder

by:		/s/ David A. Willich,
		attorney in fact for David M. Rubenstein
Name:		David M. Rubenstein
Title:		Ordinary Member

Carlyle Asia Growth Partners III, L.P.

by: CAGP General Partner, L.P., its general partner

by: CAGP Ltd., its general partner

by: TC Group Cayman Investment Holdings, L.P., its sole shareholder

by: TCG Holdings Cayman II, L.P., its general partner

by: DBD Cayman, Ltd., its general partner

by: DBD Cayman Holdings, Ltd., its sole shareholder



by:		/s/ David A. Willich,
		attorney in fact for David M. Rubenstein
Name:		David M. Rubenstein
Title:		Ordinary Member

CAGP III Co-Investment, L.P.

by: CAGP General Partner, L.P., its general partner

by: CAGP Ltd., its general partner

by: TC Group Cayman Investment Holdings, L.P., its sole shareholder

by: TCG Holdings Cayman II, L.P., its general partner

by: DBD Cayman, Ltd., its general partner

by: DBD Cayman Holdings, Ltd., its sole shareholder



by:		/s/ David A. Willich,
		attorney in fact for David M. Rubenstein
Name:		David M. Rubenstein
Title:		Ordinary Member