China Global Dev (fka CGDP)

[chucka]

NEWs:
China Global Development - News Release - 2002-03-04 22:26
China Global Development Receives Approval For its ``Century Star City'' Development

China Global Development Receives Approval For its ``Century Star City''
Development

NEWPORT BEACH, Calif., Mar 19, 2002 (BUSINESS WIRE) -- China Global Development,
Inc. announced today that its subsidiary, Baxian Real Estate Development
Company, has received approval for the first phase of its "Century Star City"
development project located in the proximity of the planned Olympic Village to
be built in Beijing for the 2008 Olympics.

The estimated value of the project is $300 million US. The Beijing Development
Planning Committee has approved the first phase construction design of the 740
acre parcel. The first phase will be built upon a 25 acre section of that parcel
located in Qijian Town and will consist of shopping, residential and utility
facilities.

Mr. Baldwin Yung, CFO of China Global Development, Inc. said, "We are pleased
with the Committee's early approval. This allows us to capitalize on China's
booming housing construction market during an era of rapid economic reform in
China. The introduction of Western housing, in China, by a non-related Chinese
developer recently, who named his project after Southern California's fabled
Orange County was a huge success. According to Los Angeles Times staff writers
Mike Anton and Mike Chu all of the houses were snatched up within a month after
being offered for sale. "We are very confident that Century Star City, which is
located along side the Wenyu River near the recent Orange County China
development will be equally as successful," Young said.

Century Star City, when completed, will be a world class villa resort designed
in American style together with a French styled "Laffitte" castle surrounded by
a vineyard and wine cultural plaza. "Century Star City" when completed will
overlook 1,000 villas and a magnificent shopping center designed in pure
American style.

About China Global Development Inc.: Founded in 1991, China Global Development
Inc. is one of China's largest construction companies and one of the first
privately owned enterprises authorized by the Chinese government to bid on
overseas construction contracts. China Global Development's strategy is to
maintain its position as a diversified real estate investor and developer.

Recently, the company completed a major development project the Baxian Villa
Resort in Beijing along with its surrounding commercial and residential complex
totaling more than 148 acres. The resort consists of over 600 villas with
different architectural styles and an elegant country club.

For up-to-date corporate information about China Global Development Inc. call
investor relations and ask for John Shaffer, 480/949-7965 or click on to
www.otcinfo.net.

Disclaimer: Statements, which are not historical facts, are forward-looking
statements. The Company, through its management makes forward-looking public
statements concerning its expected future operations, performance and other
developments. Such forward-looking statements are necessarily estimates
reflecting the Company's best judgment based upon current information and
involve a number of risks and uncertainties, and there can be no assurance that
other factors will not affect the accuracy of such forward-looking statements.
It is impossible to identify all such factors, factors which could cause actual
results to differ materially from those estimated by the Company include, but
not limited to, government regulation, managing and maintaining growth, the
effect of adverse publicity, litigation, competition and other factors which may
be identified from time to time in the Company's public announcements.


CONTACT: China Global Development Inc.
John Shaffer, 480/949-7965