**FORM          10-QSB**

**UNITED          STATES**

**SECURITIES          AND EXCHANGE COMMISSION**

**Washington,          D.C. 20549 **

|  **[X]**                            |  **QUARTERLY                    REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE                    SECURITIES**   |
|-----------------------------------------------|---------------------------------------------------------------------------------------------------------------------------|
|                                          |  **EXCHANGE                    ACT of 1934 For the quarter ended March 31, 2007**                               |
|                                          |                                                                                                                      |
|  **OR**                             |                                                                                                                      |
|                                          |                                                                                                                      |
|  **[                      ]**  |  **TRANSITION                    REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE                    SECURITIES**  |
|                                          |  **EXCHANGE                    ACT of 1934 For the transition period from**                                     |

**GREATER          CHINA MEDIA AND ENTERTAINMENT CORP. **

**Commission          File Number 000-51781**

|  **Nevada**                                                         |  **N/A**                                             |
|-------------------------------------------------------------------------------|----------------------------------------------------------------|
|  (State                    or Other Jurisdiction of Organization)   |  (IRS                    Employer Identification #)  |

**10th          Floor, Building A, TongYongGuoJi Center**

**No.3          Jianguomenwai Road, Chaoyang District, Beijing**

**China          100101**

**86-10-5921-2222**

----

**PART          I. - FINANCIAL INFORMATION**

**Item          1: FINANCIAL          STATEMENTS**

| **Greater                      China Media and Entertainment Corp.**                                            | ** ** | ** **                     | ** ** | ** **                         |
|-----------------------------------------------------------------------------------------------------------------|------------|--------------------------------|------------|------------------------------------|
| **(A                      Development Stage Company)**                                                          | ** ** | ** **                     | ** ** | ** **                         |
| **Balance                      Sheets**                                                                         |       |                           |       |                               |
|                                                                                                            |       |                           |       |                               |
|                                                                                                            |       |                           |       |                               |
|                                                                                                            |       | March                      31, |       | September                      30, |
|                                                                                                            |       | 2007                           |       | 2006                               |
|                                                                                                            |       | (Unaudited)                    |       | (Audited)                          |
| **ASSETS**                                                                                                      |       |                           |       |                               |
| **Current                      Assets**                                                                         |       |                           |       |                               |
| Cash                                                                                                            | $          | 8,026                          | $          | 25,631                             |
| Prepaid                      expenses                                                                           |       | 127,500                        |       | 30,000                             |
| **Total                      Current Assets**                                                                   |       | 135,526                        |       | 55,631                             |
| Other                      assets                                                                               |       | -                              |       | -                                  |
| **Total                      Assets**                                                                           | $          | 135,526                        | $          | 55,631                             |
|                                                                                                            |       |                           |       |                               |
| **LIABILITIES                      AND STOCKHOLDERS' EQUITY**                                                   |       |                           |       |                               |
| **Current                      Liabilities**                                                                    |       |                           |       |                               |
| Accounts                      payable and accrued liabilities                                                   | $          | 28,677                         | $          | 15,223                             |
| Accrued                      salaries payable to related parties                                                |       | 333,333                   |       | 83,333                             |
| Loans                      payable to related parties                                                           |       | 258,711                        |       | 82,711                             |
| **Total                        current liabilities**                                                            |       | 620,721                        |       | 181,267                            |
|                                                                                                                 |       |                                |       |                                    |
| **Stockholders'                      Equity (Deficiency)**                                                      |       |                           |       |                               |
| Preferred                      stock, $0.00001 par value;                                                       |       |                           |       |                               |
| authorized                      100,000,000 shares,                                                             |       |                           |       |                               |
| issued                      and outstanding 0 and 0 shares, respectively                                        |       | -                              |       | -                                  |
| Common                      stock, $0.00001 par value;                                                          |       |                           |       |                               |
| authorized                      1,000,000,000 shares,                                                           |       |                           |       |                               |
| issued                      and outstanding 20,100,000 and 20,100,000 shares,                      respectively |       | 201                            |       | 201                                |
| Additional                      paid-in capital                                                                 |       | 115,674                        |       | 115,674                            |
| Deficit                      accumulated during                                                                 |       |                           |       |                               |
| the                      development stage                                                                      |       | (601,070)                      |       | (241,511)                          |
| **Total                      stockholders' equity (deficiency)**                                                |       | (485,195)                      |       | (125,636)                          |
| **Total                      Liabilities and Stockholders' Equity (Deficiency)**                                | $          | 135,526                        | $          | 55,631                             |
|                                                                                                            |       |                           |       |                               |
| **See                      notes to financial statements.**                                                     |       |                           |       |                               |

| **Greater                          China Media and Entertainment Corp.**            |   |                                                  |   |                                                |   |                                                                                                           |   |        |   |                                    |
|-------------------------------------------------------------------------------------|--------|-------------------------------------------------------|--------|-----------------------------------------------------|--------|----------------------------------------------------------------------------------------------------------------|--------|-------------|--------|-----------------------------------------|
| **(A                          Development Stage Company)**                          |   |                                                  |   |                                                |   |                                                                                                           |   |        |   |                                    |
| **Statements                          of Operations**                               |   |                                                  |   |                                                |   |                                                                                                           |   |        |   |                                    |
|                                                                                |   |                                                  |   |                                                |   |                                                                                                           |   |        |   |                                    |
|                                                                                |   |                                                  |   |                                                |   |                                                                                                           |   |        |   |                                    |
|                                                                                |   | Three                          months ended March 31, |   | Six                          months ended March 31, |   | Cumulative                          during the development stage December                          15, 2004 to |
|                                                                                |   | 2007                                                  |   | 2006                                                |   | 2007                                                                                                           |   | 2006        |   | March                          31, 2007 |
|                                                                                |   | (Unaudited)                                           |   | (Unaudited)                                         |   | (Unaudited)                                                                                                    |   | (Unaudited) |   | (Unaudited)                             |
|                                                                                |   |                                                  |   |                                                |   |                                                                                                           |   |        |   |                                    |
| **Revenue**                                                                         | $      | -                                                     | $      | -                                                   | $      | -                                                                                                         | $      | -           | $      | -                                       |
|                                                                                |   |                                                  |   |                                                |   |                                                                                                           |   |        |   |                                    |
| **Cost                          and expenses**                                      |   |                                                  |   |                                                |   |                                                                                                           |   |        |   |                                    |
| General                          and administrative expenses                        |   | 213,064                                               |   | 12,574                                              |   | 359,559                                                                                                        |   | 27,109      |   | 585,403                                 |
| Loss                          from continuing operations                            |   | (213,064)                                             |   | (12,574)                                            |   | (359,559)                                                                                                      |   | (27,109)    |   | (585,403)                               |
| Loss                          from discontinued operations                          |   | -                                                     |   | -                                                   |   | -                                                                                                              |   | -           |   | (15,667)                                |
| **Net                          Loss**                                               | $      | (213,064)                                             | $      | (12,574)                                            | $      | (359,559)                                                                                                      | $      | (27,109)    | $      | (601,070)                               |
|                                                                                |   |                                                  |   |                                                |   |                                                                                                           |   |        |   |                                    |
| **Net                          Loss per share**                                     |   |                                                  |   |                                                |   |                                                                                                           |   |        |   |                                    |
| Basic                          and diluted                                          | $      | (0.01)                                                | $      | (0.00)                                              | $      | (0.02)                                                                                                         | $      | (0.00)      |   |                                    |
|                                                                                |   |                                                  |   |                                                |   |                                                                                                           |   |        |   |                                    |
| **Number                          of common shares used to compute loss per share** |   |                                                  |   |                                                |   |                                                                                                           |   |        |   |                                    |
| Basic                          and Diluted                                          |   | 20,100,000                                            |   | 20,100,000                                          |   |  20,100,000                                                                                               |   | 14,150,680  |   |                                    |
|                                                                                |   |                                                  |   |                                                |   |                                                                                                           |   |        |   |                                    |
| **See                          notes to financial statements.**                     |   |                                                  |   |                                                |   |                                                                                                           |   |        |   |                                    |

| **Greater                          China Media and Entertainment Corp.**                                             |                                                            |   |       |   |                                                                            |   |                                         |   |                                         |
|----------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------|--------|------------|--------|---------------------------------------------------------------------------------|--------|----------------------------------------------|--------|----------------------------------------------|
| **(A                          Development Stage Company)**                                                           |                                                            |   |       |   |                                                                            |   |                                         |   |                                         |
| **Statements                          of Stockholders' Equity (Deficiency)**                                         |                                                            |   |       |   |                                                                            |   |                                         |   |                                         |
| **For                          the period December 15, 2004 (Inception) to March 31,                          2007** |                                                            |   |       |   |                                                                            |   |                                         |   |                                         |
|                                                                                                                 |                                                            |   |       |   |                                                                            |   |                                         |   |                                         |
|                                                                                                                 |                                                            |   |       |   |                                                                            |   |                                         |   |
|                                                                                                                 | Common                          Stock, $0.00001 Par Value  |   | Additional |   | Deficit                          AccumulatedDuring                          the |   | Total                          Stockholders' |
|                                                                                                                 | Shares                                                          |   | Amount     |   | Paid-in                          Capital                                        |   | Development                          Stage   |   | Equity                          (Deficiency) |
| Sale                          of common stock on                                                                     |                                                            |   |       |   |                                                                            |   |                                         |   |                                         |
| December                          17, 2004 at $0.0001 per share                                                      | 10,000,000                                                      | $      | 100        | $      | 900                                                                             | $      | -                                            | $      | 1,000                                        |
| Donated                          services                                                                            | -                                                               |   | -          |   | 7,125                                                                           |   | -                                            |   | 7,125                                        |
| Net                          loss for the period December 15,                                                        |                                                            |   |       |   |                                                                            |   |                                         |   |                                         |
| 2004                          (inception) to September 30, 2005                                                      | -                                                               |   | -          |   | -                                                                               |   | (33,682)                                     |   | (33,682)                                     |
| Balance,                          September 30, 2005                                                                 | 10,000,000                                                      |   | 100        |   | 8,025                                                                           |   | (33,682)                                     |   | (25,557)                                     |
| Sale                          of common stock in public offering                                                     |                                                            |   |       |   |                                                                            |   |                                         |   |                                         |
| at                          $0.01 per share which closed                                                             |                                                            |   |       |   |                                                                            |   |                                         |   |                                         |
| November                          28, 2005                                                                           | 10,100,000                                                      |   | 101        |   | 100,899                                                                         |   | -                                            |   | 101,000                                      |
| Donated                          services                                                                            | -                                                               |   | -          |   | 6,750                                                                           |   | -                                            |   | 6,750                                        |
| Net                          loss for the year                                                                       |                                                            |   |       |   |                                                                            |   |                                         |   |                                         |
| ended                          September 30, 2006                                                                    | -                                                               |   | -          |   | -                                                                               |   | (207,829)                                    |   | (207,829)                                    |
| Balance,                          September 30, 2006                                                                 | 20,100,000                                                      |   | 201        |   | 115,674                                                                         |   | (241,511)                                    |   | (125,636)                                    |
| Net                          loss for the year                                                                       |                                                            |   |       |   |                                                                            |   |                                         |   |                                         |
| ended                          December 31, 2006 (Unaudited)                                                         | -                                                               |   | -          |   | -                                                                               |   | (146,495)                                    |   | (146,495)                                    |
| Balance,                          December 31, 2006 (Unaudited)                                                      | 20,100,000                                                      |   | 201        |   | 115,674                                                                         |   | (388,006)                                    |   | (272,131)                                    |
| Net                          loss for the year                                                                       |                                                            |   |       |   |                                                                            |   |                                         |   |                                         |
| ended                          March 31, 2007 (Unaudited)                                                            | -                                                               |   | -          |   | -                                                                               |   | (213,064)                                    |   | (213,064)                                    |
| Balance,                          March 31, 2007 (Unaudited)                                                         | 20,100,000                                                      | $      | 201        | $      | 115,674                                                                         | $      | (601,070)                                    | $      | (485,195)                                    |
| **See                          notes to financial statements.**                                                      |                                                            |   |       |   |                                                                            |   |                                         |   |                                         |

| **Greater                            China Media and Entertainment Corp.**          |   |                                                  |   |                                                                                                                                |   |        |
|-------------------------------------------------------------------------------------|--------|-------------------------------------------------------|--------|-------------------------------------------------------------------------------------------------------------------------------------|--------|-------------|
| **(A                            Development Stage Company)**                        |   |                                                  |   |                                                                                                                                |   |        |
| **Statements                            of Cash Flows**                             |   |                                                  |   |                                                                                                                                |   |        |
|                                                                                |   |                                                  |   |                                                                                                                                |   |        |
|                                                                                |   |                                                  |   |                                                                                                                                |   |        |
|                                                                                |   |                                                  |   |                                                                                                                                |   |        |
|                                                                                |   | Six                            months ended March 31, |   | Cumulative                            during the development stage (December 15, 2004 to March                            31, 2007) |
|                                                                                |   | 2007                                                  |   | 2006                                                                                                                                |   |        |
|                                                                                |   | (Unaudited)                                           |   | (Unaudited)                                                                                                                         |   | (Unaudited) |
|                                                                                |   |                                                  |   |                                                                                                                                |   |        |
| **Cash                            Flows from Operating Activities**                 |   |                                                  |   |                                                                                                                                |   |        |
| Net                            loss                                                 | $      | (359,559)                                             | $      | (27,109)                                                                                                                            | $      | (601,070)   |
| Adjustments                            to reconcile net loss to net cash            |   |                                                  |   |                                                                                                                                |   |        |
| provided                            by (used for) operating activities:             |   |                                                  |   |                                                                                                                                |   |        |
| Impairment                            of mining property acquisition costs          |   | -                                                     |   | 1,606                                                                                                                               |   | 6,576       |
| Loss                            on disposal of mining equipment                     |   | -                                                     |   | -                                                                                                                                   |   | 9,091       |
| Management                            services donated                              |   | -                                                     |   | 3,000                                                                                                                               |   | 9,250       |
| Office                            rent donated                                      |   | -                                                     |   | 1,500                                                                                                                               |   | 4,625       |
| Changes                            in operating assets and liabilities              |   |                                                  |   |                                                                                                                                |   |        |
| Prepaid                            expenses                                         |   | (97,500)                                              |   | -                                                                                                                                   |   | (127,500)   |
| Accounts                            payable and accrued liabilities                 |   | 13,454                                                |   | (5,788)                                                                                                                             |   | 28,677      |
| Accrued                            salaries payable to related parites              |   | 250,000                                               |   | -                                                                                                                                   |   | 333,333     |
| Advances                            on share subscriptions                          |   | -                                                     |   | (12,500)                                                                                                                            |   | -           |
| **Net                            cash provided by (used for) operating activities** |   | (193,605)                                             |   | (39,291)                                                                                                                            |   | (337,018)   |
|                                                                                |   |                                                  |   |                                                                                                                                |   |        |
| **Cash                            Flows from Investing Activities**                 |   |                                                  |   |                                                                                                                                |   |        |
| Acquisition                            of mining equipment                          |   | -                                                     |   | (1,606)                                                                                                                             |   | (36,696)    |
| Disposal                            of mining equipment                             |   | -                                                     |   | -                                                                                                                                   |   | 27,605      |
| Mining                            property acquisition costs                        |   | -                                                     |   | -                                                                                                                                   |   | (6,576)     |
| **Net                            cash provided by (used for) investing activities** |   | -                                                     |   | (1,606)                                                                                                                             |   | (15,667)    |
|                                                                                |   |                                                  |   |                                                                                                                                |   |        |
| **Cash                            Flows from Financing activities**                 |   |                                                  |   |                                                                                                                                |   |        |
| Loans                            from related parties                               |   | 176,000                                               |   | -                                                                                                                                   |   | 258,711     |
| Proceeds                            from sales of common stock                      |   | -                                                     |   | 101,000                                                                                                                             |   | 102,000     |
| **Net                            cash provided by (used for) financing activities** |   | 176,000                                               |   | 101,000                                                                                                                             |   | 360,711     |
| **Increase                            (decrease) in cash**                          |   | (17,605)                                              |   | 60,103                                                                                                                              |   | 8,026       |
| **Cash,                            beginning of period**                            |   | 25,631                                                |   | 45,442                                                                                                                              |   | -           |
|                                                                                |   |                                                  |   |                                                                                                                                |   |        |
| **Cash,                            end of period**                                  | $      | 8,026                                                 |   | 105,545                                                                                                                             | $      | 8,026       |
|                                                                                |   |                                                  |   |                                                                                                                                |   |        |
| **Supplemental                            Disclosures of Cash Flow Information:**   |   |                                                  |   |                                                                                                                                |   |        |
| Interest                            paid                                            | $      | -                                                     | $      | -                                                                                                                                   | $      | -           |
| Income                            taxes paid                                        | $      | -                                                     | $      | -                                                                                                                                   | $      | -           |
|                                                                                |   |                                                  |   |                                                                                                                                |   |        |
| **See                            notes to financial statements.**                   |   |                                                  |   |                                                                                                                                |   |        |

**Note                    1Interim                    Financial Statements**

**Note                    2Organization                    and Business Operations**

**Note                    3Prepaid                    Expenses**

|                                                                |   | March                                31, |   | September                                30, |
|---------------------------------------------------------------------|--------|------------------------------------------|--------|----------------------------------------------|
|                                                                |   | 2007                                     |   | 2006                                         |
|                                                                |   | (Unaudited)                              |   |                                         |
| Vigor                                Creative Productions Limited - |   |                                     |
| Script                                Contract                      | $      | 90,000                                   | $      | 30,000                                       |
| Wang                                Yi - director compensation      |   |                                     |   |                                         |
| for                                year ended December 31, 2007     | 37,500 |                                     | -      |
|                                                                |   |                                     |   |                                       |
| Total                                                               | $      | 127,500                                  | $      | 30,000                                       |

**Note                      4Loans                      payable to Related Parties**

|                                                                        |   | March                                31, |   | September                                30, |
|-----------------------------------------------------------------------------|--------|------------------------------------------|--------|----------------------------------------------|
|                                                                        |   | 2007                                     |   | 2006                                         |
|                                                                        |   | (Unaudited)                              |   |                                         |
| Loan                                payable to chairman,                    |   |                                     |   |                                         |
| non                                interest bearing, due on demand          | $      | 206,000                                  | $      | 30,000                                       |
| Loan                                payable to former chief executive       |   |                                     |   |                                         |
| officer,                                non interest bearing, due on demand |   | 52,711                                   |   | 52,711                                       |
|                                                                        |   |                                     |   |                                         |
| Total                                                                       | $      | 258,711                                  | $      | 82,711                                       |

**Note                      5Stockholders’                      Equity**

**Note                      6Income                      Taxes**

|                                                              |   | March                                  31, |   | September                                  30, |
|-------------------------------------------------------------------|--------|--------------------------------------------|--------|------------------------------------------------|
|                                                              |   | 2007                                       |   | 2006                                           |
|                                                              |   | (Unaudited)                                |   |                                           |
| Net                                  operating loss carryforwards |   | 204,364                                    |   | 82,114                                         |
| Less                                  valuation allowance         |   | (204,364)                                  |   | (82,114)                                       |
| Net                                                               | $      | --                                         | $      | --                                             |

**Note                        7 Business Acquisitions**

**Note                        8Commitment                        and Contingencies **

**ITEM          2. **
**MANAGEMENT'S          DISCUSSION AND ANALYSIS OR PLAN OF OPERATION**

**PLAN          OF OPERATION**

**RESULTS          OF OPERATIONS FOR THE PERIOD ENDED MARCH 31, 2007 AS COMPARED TO THE PERIOD          ENDED MARCH 31, 2006**

**Revenue.          **

**Cost.          **

**Net          Loss per share**

**Cash.          **

**Liquidity          and Capital Resources **

**ITEM          3.     CONTROLS AND PROCEDURES. **

**(a)**
***Evaluation          of Disclosure Controls and Procedures:***

**(b)**
***Changes          in Internal Control over Financial Reporting:***

----

**PART          II - OTHER INFORMATION**

**ITEM          1. LEGAL PROCEEDINGS.**

**None.**

**ITEM          2.     UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF          PROCEEDS.**

**None..**

**ITEM          3. DEFAULTS UPON SENIOR SECURITIES**

**None.**

**ITEM          4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS**

**None.**

**ITEM          5. OTHER INFORMATION**

**None.**

**ITEM          6.     EXHIBITS AND REPORTS ON FORM 8-K**

|   | **(a)** | **No                    reports on Form 8-K were filed during the last quarter** |
|--------|---------|----------------------------------------------------------------------------------|

| Exhibit                    No. | **Document                    Description**                                                                                                                                                                             |
|--------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                           |                                                                                                                                                                                                                    |
| 31.1                           | Certification                    of Principal Executive Officer pursuant                    to Rule 13a-15(a) and Rule 15d-15(a), promulgated under the Securities                    Exchange Act of 1934, as amended. |
|                           |
| 31.2                           | Certification                    of Principal Financial Officer pursuant                    to Rule 13a-15(a) and Rule 15d-15(a), promulgated under the Securities                    Exchange Act of 1934, as amended. |
|                           |
| 32.1                           | Certification                    of Chief Executive Officer Pursuant To 18                    U.S.C. Section 1350, as adopted pursuant to Section 906 Of The                    Sarbanes-Oxley Act of 2002.             |
|                           |
| 32.2                           | Certification                    of Chief Financial Officer Pursuant To 18                    U.S.C. Section 1350, as adopted pursuant to Section 906 Of The                    Sarbanes-Oxley Act of 2002.             |

----

**SIGNATURES**

|   | **GREATER                      CHINA MEDIA AND ENTERTAINMENT CORP.** |
|--------|----------------------------------------------------------------------|
|   | (the                      "Registrant")                              |
|   |                                                                 |   |
|   | BY:                                                                  | /s/                      Jake Wei |
|   |                                                                 | Jake                      Wei, Chairman of Board of Directors |
|   |                                                                 |   |
|   | BY:                                                                  | /s/                      Liu, XiaoLin |
|   |                                                                 | Liu,                      XiaoLin, Member of Board of                      Directors |