<SEC-DOCUMENT>0001144204-13-020543.txt : 20131003
<SEC-HEADER>0001144204-13-020543.hdr.sgml : 20131003
<ACCEPTANCE-DATETIME>20130408115352
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001144204-13-020543
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20130408

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHINA RECYCLING ENERGY CORP
		CENTRAL INDEX KEY:			0000721693
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-BUSINESS SERVICES, NEC [7389]
		IRS NUMBER:				900093373
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		12TH FLOOR, TOWER A, CHANG AN INTL BLDG
		STREET 2:		NO. 88 NAN GUAN ZHENG XIE
		CITY:			XI AN CITY, SHAN XI PROVINCE
		STATE:			F4
		ZIP:			710068
		BUSINESS PHONE:		86-29-8765-1097

	MAIL ADDRESS:	
		STREET 1:		12TH FLOOR, TOWER A, CHANG AN INTL BLDG
		STREET 2:		NO. 88 NAN GUAN ZHENG XIE
		CITY:			XI AN CITY, SHAN XI PROVINCE
		STATE:			F4
		ZIP:			710068

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CHINA DIGITAL WIRELESS INC
		DATE OF NAME CHANGE:	20040810

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BOULDER ACQUISITIONS  INC
		DATE OF NAME CHANGE:	20020430

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BOULDER BREWING CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
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    <TD STYLE="width: 34%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 8pt">Albany</FONT></P>
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                                                                                          SRC="image_001.jpg" ALT="Description: MLAlogo_no-tagline"

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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">mckennalong.com</FONT></P></TD>
    <TD STYLE="width: 33%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 8pt">Northern
                                                                      Virginia</FONT></P>
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        Diego</FONT></P>
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        Francisco</FONT></P>
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        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 8pt">Seoul</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 8pt">Washington,
        DC</FONT></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">THOMAS WARDELL</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">404.527.4990</P></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">EMAIL ADDRESS</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">twardell@mckennalong.com</P></TD></TR>
</TABLE>


<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; text-align: center; margin-bottom: 0">April 8, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Via EDGAR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance<BR>
100 F Street, NE<BR>
Washington, D.C. 20549-0405</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in">Attn:</TD><TD STYLE="text-align: left">William H. Thompson, Accounting Branch Chief<BR>
Tony Watson</TD><TD STYLE="text-align: justify"></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">Re:</TD><TD>China Recycling Energy Corporation<BR>
Form 10-K for Fiscal Year Ended December 31, 2011<BR>
File No. 001-34625</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Mr. Thompson:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 37.45pt">On behalf of our
client, China Recycling Energy Corporation (&ldquo;CREG&rdquo; or the &ldquo;Company&rdquo; and sometimes referred to as &ldquo;we&rdquo;
or &ldquo;our&rdquo;), and pursuant to our phone conference on March 14, 2013, this firm is filing a final response to the SEC
Comment Letters, dated December 14, 2012, January 23, 2013, February 7, 2013, March 4, 2013, March 20, 2013 and March 28, 2013,
in connection with complying with the issues and outstanding disclosure items set forth therein. For convenience of reference,
we have included, in this response letter, the same caption and paragraph number, as well as the text of the comment, set forth
in your March 28, 2013 comment letter followed by our response.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 37.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 37.45pt">Upon learning from
you that the SEC has no further comment, the Company will promptly file<FONT STYLE="color: black"> Amendment No. 1 to the Company&rsquo;s
Form 10-K for fiscal year ended December 31, 2011 with the SEC (as attached to the Company&rsquo;s Response Letter, filed February
15, 2013).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 37.45pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Form 10-K for Fiscal Year Ended December 31, 2011</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Item 8. Financial Statements and Supplementary Data, page
50</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Note 17: Shareholders&rsquo; Equity, page 78</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>Comment&nbsp;1</B>.&nbsp;&nbsp;</TD><TD STYLE="text-align: justify">We reviewed your response to the comment in our letter
dated March 20, 2013. Please tell us why your initial measurement and subsequent measurements of the obligation complies with
the measurement guidance in ASC 480-10-30 and ASC 480-10-35.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -63pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -63pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -63pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">United States Securities and Exchange Commission</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">April 8, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Page 2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -63pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -63pt"><B><I>Response:</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 63pt; text-align: justify; text-indent: -63pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our initial measurement
and subsequent measurements of the obligation complies with the measurement guidance in ASC 480-10-30-7 and ASC 480-10-35-5 as
follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>ASC 480-10-30-7: All Other Financial
Instruments 30-7&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This measurement guidance
states that all other&nbsp;<FONT STYLE="text-underline-style: none; color: windowtext">financial instruments</FONT>&nbsp;recognized
under the guidance in Section&nbsp;<FONT STYLE="text-underline-style: none; color: windowtext">480-10-25</FONT>&nbsp;shall be measured
initially at fair value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The obligation was
incurred on June 29, 2010 and the Company recognized the fair value of the obligation, which was $11.7 Million (RMB 80 million/6.82),
to be settled in shares worth $11.7 million. The number of shares could be less or more subject to a maximum of 2.9 million shares.
The obligation was fixed at $11.7 million, which was the fair value of the obligation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>ASC 480-10-35-5:&nbsp;All Other Financial
Instruments 35-5&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This measurement guidance
states that all other financial instruments recognized under the guidance in Section&nbsp;<FONT STYLE="text-underline-style: none; color: windowtext">480-10-25</FONT>&nbsp;shall
be measured subsequently at&nbsp;<FONT STYLE="text-underline-style: none; color: windowtext">fair value</FONT>&nbsp;with changes
in fair value recognized in earnings, unless either this subtopic or another subtopic specifies another measurement attribute.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The obligation was
fixed at $11.7 million. The Company recorded the shares at fair value when issued on November 22, 2011. The Company did not measure
the changes in fair value during the intervening period (June 2010 to November 2011), as the obligation under FAS 5 was a contingent
gain throughout this period and as such, according to FAS 5 would only be recorded when the contingency was resolved, which, in
fact, occurred when the holder asked for the shares issued.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">I will confirm with
you shortly whether our response is satisfactory, and, if so, we will file the Form 10-K/A attached to our previous responses.
If, before that time, you have any further comments or require any further information or if any questions should arise in connection
with this submission, please call me at (404) 527-4990 or Mr. Jay Shah at (404) 527-4593.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; padding-bottom: 12pt">&nbsp;</TD>
    <TD STYLE="width: 40%; padding-bottom: 12pt"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Very truly yours,</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-top: 0.25in">&nbsp;</TD>
    <TD STYLE="padding-top: 0.25in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">/s/ Thomas Wardell, Esq.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0.5in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0.5in"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Thomas Wardell, Esq.</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">cc:</FONT></TD>
    <TD STYLE="width: 95%"><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">David Chong, CFO, China Recycling Energy Corp.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Jeffrey Li, Esq.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: black">Jay V. Shah, Esq.</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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