**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 December 31, 2006****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.**






**(formerly
      AGA Resources, Inc.)**






**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**




(Address
      of principal executive offices, including zip code)







**86-10-5921-2222**


(Registrant's
      telephone number, including area code)




Indicate
      by check mark whether the registrant (1) has filed all reports required to
      be
      filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
      the
      preceding 12 months (or for such shorter period that the Registrant was required
      to file such reports), and (2) has been subject to such filing requirements
      for
      the past 90 days. Yes [X] No [   ]






The
      Registrant is a Shell company. [   ]






As
      of
      December 31, 2006, the Company had **20,100,000** shares
      of common stock outstanding.
















**PART
      I. - FINANCIAL INFORMATION**






**ITEM
      1.     INTERIM FINANCIAL STATEMENTS** .





**Greater
                China Media and Entertainment Corp.****(A
                Development Stage Company)****Balance
                Sheets**December
                31,
            
            September
                30,2006
            
            2006(Unaudited)
            
            (Audited)**ASSETS****Current
                Assets**Cash
            $
            12,820
            $
            25,631Prepaid
                expenses
            
            80,000
            
            30,000**Total
                Current Assets**
            
            92,820
            
            55,631Other
                assets
            
            -
            
            -**Total
                Assets**
            $
            92,820
            $
            55,631**LIABILITIES
                AND STOCKHOLDERS' EQUITY (DEFICIENCY)****Current
                Liabilities**Accounts
                payable and accrued liabilities
            $
            13,905
            $
            15,223Accrued
                salaries payable to related parties
            
            208,335
            
            83,333Loans
                payable to related parties
            
            142,711
            
            82,711Advances
                on share subscriptions
            
            -
            
            -**Total
                current liabilities**
            
            364,951
            
            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
                100,000,000 shares,issued
                and outstanding 20,100,000 and 20,100,000 shares,
                respectively
            
            201
            
            201Additional
                paid-in capital
            
            115,674
            
            115,674Deficit
                accumulated duringthe
                development stage
            
            (388,006)
            
            (241,511)**Total
                stockholders' equity (deficiency)**
            
            (272,131)
            -
            (125,636)**Total
                Liabilities and Stockholders' Equity (Deficiency)**
            $
            92,820
            $
            55,631**See
                notes to financial statements.**







**Greater
                China Media and Entertainment Corp.****(A
                Development Stage Company)****Statements
                of Operations**Cumulative
                during the developmentThree
                months ended
            
            stage
                Dec.15December
                31,
            
            2004
                to Dec.312006
            
            2005
            
            2006(Unaudited)
            
            (Unaudited)
            
            (Unaudited)**Revenue**
            $
            -
            $
            -
            $
            -**Cost
                and expenses**General
                and administrative expenses
            
            146,495
            
            14,535
            
            372,339Loss
                from continuing operations
            
            (146,495)
            
            (14,535)
            
            (372,339)Loss
                from discontinued operations
            
            -
            
            -
            
            (15,667)**Net
                Loss**
            $
            (146,495)
            $
            (14,535)
            $
            (388,006)**Net
                Loss per share**Basic
                and diluted
            $
            (0.01)
            $
            (0.00)**Number
                of common shares used to compute loss per share**Basic
                and Diluted
            
            20,100,000
            
            11,632,600**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 December 31,
                2006**Common
                Stock, $0.00001 Par Value
            
            Additional
                Paid-in Capital
            
            Deficit
                Accumulated During the Development Stage
            
            Total
                Stockholders' Equity (Deficiency)Shares
            
            AmountSale
                of common stock onDecember
                17, 2004 at $0.0001 per share
            10,000,000
            $
            100
            $
            900
            $
            -
            $
            1,000Donated
                services
            -
            
            -
            
            7,125
            
            -
            
            7,125Net
                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 offeringat
                $0.01 per share which closedNovember
                28, 2005
            10,100,000
            
            101
            
            100,899
            
            -
            
            101,000Donated
                services
            -
            
            -
            
            6,750
            
            -
            
            6,750Net
                loss for the yearended
                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 yearended
                December 31, 2006 (Unaudited)
            -
            
            -
            
            -
            
            (146,495)
            
            (146,495)Balance,
                December 31, 2006 (Unaudited)
            20,100,000
            $
            201
            $
            115,674
            $
            (388,006)
            $
            (272,131)**See
                notes to financial statements.**





Greater
      China Media and Entertainment Corp.


(A
      Development Stage Company)


Notes
      to
      Financial Statements


December
      31, 2006




Note
        1 Interim
        Financial Statements
 
 The
        unaudited financial statements as of December 31, 2006 and for the three
        months
        ended December 31, 2006 and 2005, and for the period December 15, 2004
        (inception) to December 31, 2006 have been prepared in accordance with
        accounting principles generally accepted in the United States for interim
        financial information and with instructions to Form 10-QSB. In the opinion
        of
        management, the unaudited financial statements have been prepared on the
        same
        basis as the annual financial statements and reflect all adjustments, which
        include only normal recurring adjustments, necessary to present fairly the
        financial position as of December 31, 2006 and the results of operations
        and
        cash flows for the periods ended December 31, 2006 and 2005. The financial
        data
        and other information disclosed in these notes to the interim financial
        statements related to these periods are unaudited. The results for the three
        month ended December 31, 2006 is not necessarily indicative of the results
        to be
        expected for any subsequent quarter of the entire year ending September 31,
        2007. The balance sheet at September 31, 2006 has been derived from the audited
        financial statements at that date.
   Certain
        information and footnote disclosures normally included in financial statements
        prepared in accordance with accounting principles generally accepted in the
        United States have been condensed or omitted pursuant to the Securities and
        Exchange Commission's rules and regulations. These unaudited financial
        statements should be read in conjunction with our audited financial statements
        and notes thereto for the year ended September 30, 2006 as included in our
        report on Form 10-KSB.
  Note
          2 Organization
          and Business Operations
 
 Greater
          China Media and Entertainment Corp. (the “Company”) was incorporated in the
          State of Nevada on December 15, 2004 under the name AGA Resources, Inc.
          From
          inception to July 2006, the Company was engaged in mineral exploration.
          In July
          2006, the Company decided to terminate mineral exploration activities and
          to
          concentrate on media and entertainment activities in the People's Republic
          of
          China (“PRC”).
 
 In
          May
          2006, the Company effectuated a 10 for 1 forward stock split. The financial
          statements have been retroactively adjusted to reflect this stock
          split.
 
 Note
          3 Prepaid
          Expenses
 
 Prepaid
          expenses consist of:







December
                31,
            
            September
                30,2006
            
            2006(Unaudited)Vigor
                Creative Productions Limited -Script
                Contract
            $
            30,000
            $
            30,000Wang
                Yi - director compensationfor
                year ended December 31, 2007
            50,000
            
            -Total
            $
            80,000
            $
            30,000








On
      September 25, 2006, the Company executed a Script Contract with Vigor Creative
      Productions Limited, a Hong Kong corporation (“Vigor”). The Script Contract
      provides for the Company's purchase of scripts to be written by Vigor for 30
      series of a television program named “True Love” to be produced by the Company.
      The total purchase price is 900,000 Hong Kong dollars (“HKD”) ($116,001
      translated at the December 31, 2006 exchange rate) and is payable 250,000 HKD
      upon signing of the agreement,





250,000
      HKD upon receipt of the skeleton of the Scripts (to be delivered by Vigor one
      month after signing of the agreement), 150,000 HKD upon receipt of scripts
      for
      the first 10 series, 150,000 HKD upon receipt of scripts for the first 20
      series, and 100,000 HKD upon receipt of scripts for the 30 series (to be
      delivered by Vigor within 4 months after signing of the agreement).





Pursuant
      to the Script Contract, the Company paid Vigor $30,000 on September 25, 2006
      and
      classified the payment as a prepaid expense at September 30, 2006. As scripts
      are delivered to the Company, the related costs will be capitalized as film
      and
      television costs. The 900,000 HKD total cost of the scripts and the subsequent
      production costs (estimated to be 10,000,000 RMB, or $1,280,820 translated
      at
      the December 31, 2006 exchange rate) will be expensed in the proportion that
      current period's gross revenues from the television program bear to estimated
      remaining gross revenues from the program within 10 years of the delivery of
      the
      first episode (the “Projected Revenue Method”).




In
      January 2007, Vigor delivered scripts for the first 6 episodes. The Company
      expects to receive scripts for an additional 6 episodes in February 2007 and
      expects to receive scripts for the remaining episodes by April
      2007.


Note
        4 Loans
        payable to Related Parties
  Loans
        payable to related parties consist of:
  December
                    31,
                
                September
                    302006
                
                2006(Unaudited)Loan
                    payable to chairman,Non interest bearing, due on demand
                $
                90,000
                $
                30,000Loan
                    payable to chief executiveofficer, non interest bearing, due on demand
                
                52,711
                
                52,711Total
                $
                142,711
                $
                82,711
   The
          Company has agreed to repay the $90,000 loan payable to chairman by December
          1,
          2008 in cash, common stock, or a combination thereof.
  Note
          5 Stockholders'
          Equity
  On
          December 17, 2004, the Company sold a total of 10,000,000 shares of its
          common
          stock to its then two officers and directors at a price of $0.0001 per
          share, or
          $1,000 total.
  On
          November 28, 2005, the Company closed its public offering (the related
          registration statement on Form SB-2 was declared effective by the Securities
          and
          Commission on October 17, 2005). The Company sold a total of 1,010,000
          pre-split
          shares of its common stock at a price of $0.10 per share, or $101,000
          total.
  At
          December 31, 2006, there were no outstanding stock options or
          warrants.
  
   Note
          6 Income
          Taxes
  No
          provisions for income taxes have been recorded since the Company has incurred
          losses since inception.
  Deferred
          tax assets consist of:
  December
                      31,
                  
                  September
                      30,2006
                  
                  2006(Unaudited)Net
                      operating loss carry forwards
                  $
                  131,922
                  $
                  82,114Less
                      valuation allowance
                  
                  (131,922)
                  
                  (82,114)Net
                  $
                  -
                  $
                  -
   Based
          on
          management's present assessment, the Company has not yet determined it
          to be
          more likely than not that a deferred tax asset of $131,922 attributable
          to the
          future utilization of $ 388,006 of net operating loss carry forwards as
          of
          December 31, 2006 will be realized. Accordingly, the Company has provided
          a 100%
          allowance against the deferred tax asset in the financial statements at
          December
          31, 2006. The Company will continue to review this valuation allowance
          and make
          adjustments as appropriate. The net operating loss carry forwards expire
          $33,682
          in 2025, $207,829 in 2026, and $146,495 in 2027.
  Current
          tax laws limit the amount of loss available to offset against future taxable
          income when a substantial change in ownership occurs. Therefore, the amount
          available to offset future taxable income may be limited.
  Note
          7 Business
          Acquisitions
  Triumph
          Research Limited
  On
          June
          14, 2006, the Company executed an agreement with Triumph Research Limited,
          a
          corporation organized under the laws of the British Virgin Islands (“Triumph”),
          Beijing Tangde International Film and Culture Co., Ltd., a company organized
          under the laws of the PRC (“Tangde”), and the Triumph stockholders. The
          agreement provided that the Company would issue 3,209,000 shares of its
          common
          stock to the Triumph stockholders in exchange for 100% of the issued and
          outstanding capital stock of Triumph. The agreement also provided that,
          prior to
          closing, Triumph would make a 5,100,000 PRC Renminbi (“RMB”), or $644,859
          translated at the September 30, 2006 exchange rate, capital contribution
          to a
          joint venture with Tangde (the “Tangde Joint Venture”) for a 51% interest in the
          Tangde Joint Venture. Under an agreement between Triumph and Tangde dated
          April
          18, 2006, the Tangde Joint Venture is to invest in film and television
          products,
          equipment leasing, agency activities, advertising and other related businesses
          in the media and entertainment industries.
  The
          closing occurred on June 27, 2006 and the Triumph stockholders delivered
          Stock
          Powers conveying their equity interests in Triumph to the Company. However,
          since Triumph had failed to make the 5,100,000 RMB capital contribution
          to the
          Tangde Joint Venture prior to closing, the Company exercised its option
          to
          withhold delivery of the 3,209,000 shares of common stock to the Triumph
          stockholders. Pursuant to a closing agreement, the Triumph stockholders
          agreed
          to pay the 5,100,000 RMB capital contribution by September 27, 2006. Although
          this payment has not yet been made, the Company believes that the Triumph
          stockholders will make the 5,100,000 RMB capital contribution in early
          2007. In
          the event of a continuing default, the Company has several remedies, including
          legal action to enforce the payment obligation created by the closing agreement,
          as well as an action to rescind the agreement. At September 30, 2006 and
          December 31, 2006, Triumph has no assets other than its rights under the
          Tangde
          Joint Venture agreement.
  Joint
          Venture with Beijing New-Element Co. Ltd. (“New Element”)
  On
          September 25, 2006, the Company executed a Joint Venture Agreement with
          New
          Element, a company organized under the laws of the PRC. The agreement provides
          for the formation of a joint venture (the “New Element Joint Venture”) to
          conduct a marketing and promotion business in the PRC. The Company is to
          contribute 510,000 RMB, or $65,322 translated at the December 31, 2006
          exchange
          rate, for a 51% interest in the New Element Joint Venture and New Element
          is to
          contribute 490,000 RMB, or $62,760 translated at the December 31, 2006
          exchange
          rate, for a 49% interest in the NewElement
          Joint Venture. The agreement also provides that the Company is to issue
          2,000,000 shares of its common stock to the sole stockholder of New Element
          and
          New Element is to transfer all its signed marketing and promotion commercial
          contracts to the New Element Joint Venture. The agreement, which has a
          term of
          20 years, also provides that the Company is to provide the required working
          capital to the New Element Joint Venture and that New Element is responsible
          for
          the joint venture's daily operations. If the New Element Joint Venture
          meets the
          profit projection in 3 years, the Company has an option to acquire New
          Element's
          49% interest at a price equal to 6 times the average annual profit for
          the 3
          years and New Element has an option to sell its 49% interest to the Company
          at a
          price also equal to 6 times the average annual profit for the 3 years.
          If the
          joint venture meets the profit projection in 3 years and New Element decides
          to
          terminate the agreement, the Company may require New Element to return
          all of
          the Company's investment in the New Element Joint Venture.
  At
          February 2, 2007, the New Element Joint Venture has not yet been funded
          and
          operations have not yet commenced.
    
    Joint
          Venture with Beijing Star King Talent Agency Ltd. Co. (“Star
          King”)
  On
          December 7, 2006, the Company executed a Joint Venture Agreement with Star
          King,
          a company organized under the laws of the PRC. The agreement provides for
          the
          formation of a joint venture (the “Star King Joint Venture”) to conduct a talent
          agency business in the PRC. The Company is to contribute 600,000 RMB, or
          $76,849
          translated at the December 31, 2006 exchange rate, for a 60% interest in
          the
          Star King Joint Venture, and Star King is to contribute 400,000 RMB, or
          $51,233
          translated at the December 31, 2006 exchange rate, for a 40% interest in
          the
          Star King Joint Venture. The agreement also provides that the Company is
          to
          issue 2,000,000 shares of its common stock to Star King or its designee(s)
          and
          Star King is to transfer all its signed agency contracts to the Star King
          Joint
          Venture. The agreement, which has a term of 20 years, also provides that
          the
          Company is to provide 940,000 RMB ($120,397 translated at the December
          31, 2006
          exchange rate) initial working capital to the Star King Joint Venture and
          that
          Star King is responsible for the joint venture's daily operations. If the
          Star
          King Joint Venture generates a pretax profit of 8,000,000 RMB ($1,024,656
          translated at the December 30, 2006 exchange rate) in the first 2 years,
          the
          Company has an option to acquire Star King's 40% interest at a price equal
          to 6
          times the average annual net profit using a combination of cash and common
          stock. If the joint venture generates a pretax profit of 8,000,000 RMB
          ($1,024,656 translated at the December 31, 2006 exchange rate) in the first
          2
          years and Star King decides to terminate the cooperation, the Company is
          entitled to entire ownership of the Star King Joint Venture, including
          the
          Company's investment in and loans to the joint venture and all profit generated
          from the joint venture.
  At
          February 2, 2007, the Star King Joint Venture has not yet been funded and
          operations have not yet commenced.
  Note
          8 Commitment
          and Contingencies
  Employment
          Agreements
  On
          August
          1, 2006, the Company entered into employment agreements with its chairman
          and
          chief executive officer at monthly salaries of $20,834 each. The term of
          these
          agreements is two years. Under both agreements, either the Company or the
          employee may terminate the agreement, with or without cause, by providing
          the
          other party with three months prior written notice.
  Rental
          Agreements
  From
          July
          1, 2006 to December 31, 2006, the Company rented office space under a month
          to
          month verbal agreement at a rent of $645 per month.
  On
          January 1, 2007, the Company executed a lease agreement for space at a
          rent of
          $645 per month for a term of one year ending December 31, 2007.


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





We
      are a
      start-up Corporation and have not yet generated or realized any revenues from
      our business activities .




Our
      auditors have issued a going concern opinion. This means that there is
      substantial doubt that we can continue as an on-going business for the next
      twelve months unless we obtain additional capital to pay our bills. This is
      because we have not generated any revenues and no revenues are anticipated
      until
      we begin our new operations unrelated to removing and selling minerals. We
      completed our public offering and raised $100,100. We do not believe the money
      will allow us to operate for 12 months. As of December 31, 2006, we had only
      approximately $12,820 in cash on our balance sheet.




In
      June
      2006, the Company signed and closed an Acquisition Agreement with Triumph
      Research Limited, which is a BVI company and party to a Joint Venture Agreement
      with Beijing Tangde International Film and Culture Co., Ltd. (“Tangde”), a
      Chinese company.




On
      September 25, 2006, the Company and Beijing New-Element Co. Ltd., a company
      organized and existing under the laws of the People's Republic of China
      (“New-Element”), entered into a Joint Venture Agreement (the “Agreement”) for a
      term of twenty years to be organized in Beijing, China. The purpose of the
      Agreement is to jointly conduct a marketing and promotional business for
      selected clients in the People’s Republic of China. The Company will contribute
      510,000 RMB to the Joint Venture and will own 51% of the Joint Venture Company,
      having a majority of the seats on the Board of Directors. New-Element will
      contribute 490,000 RMB to the Joint Venture and will own 49% of the Joint
      Venture Company, having a minority of the seats on the Board of Directors.
      The
      Company has agreed to provide the required working capital for the Joint
      Venture, and will be in charge of the Joint Venture's accounting
      management.




On
      December 7, 2006, the Company and Beijing Star King Talent Agency Ltd. Co.,
      a
      company organized and existing under the laws of the People's Republic of China
      (“Star Agency”), entered into a Joint Venture Agreement (the” Agreement”) for a
      term of twenty years to be organized in Beijing, China. The purpose of the
      Agreement is to jointly conduct a talent agency business in the People's
      Republic of China.





The
      Company will contribute 600,000 RMB to the Joint Venture and will own 60% of
      the
      joint venture company, having a majority of the seats on the Board of Directors.
      Star Agency will contribute 400,000 RMB to the Joint Venture and will own 40%
      of
      the joint venture company, having a minority of the seats on the Board of
      Directors. The Registrant is responsible for providing the initial working
      capital of the joint venture company in the amount of 940,000 RMB in accordance
      with its business plan, and for raising the required capital for the development
      of the joint venture company. Star Agency has the right to appoint the General
      Manager of the joint venture company, and is responsible for the day to day
      operations of the joint venture company. However, the Registrant has the right
      not to distribute the profit of the joint venture company to both parties within
      the first three years.





**Limited
      Operating History; Need for Additional Capital**





There
      is
      no historical financial information about us upon which to base an evaluation
      of
      our performance. We are a start up corporation and have not generated any
      revenues from activities. We cannot guarantee we will be successful in our
      business activities. Our business is subject to risks inherent in the
      establishment of a new business enterprise, including limited capital resources,
      and possible cost overruns due to price and cost increases in
      services.





To
      become
      profitable and competitive, we must set up the Joint Ventures we have signed
      and
      carry on the business according to our business plan and become profitable
      from
      investing in the JVs.





We
      have
      no assurance that future financing will be available to us on acceptable terms.
      If financing is not available on satisfactory terms, we may be unable to
      continue, develop or expand our activities. Equity financing could result in
      additional dilution to existing shareholders.








**RESULTS
      OF OPERATIONS FOR THE PERIOD ENDED DECEMBER 31, 2006 AS COMPARED TO THE PERIOD
      ENDED DECEMBER 31, 2005**





The
      information presented here should be read in conjunction with the Company's
      consolidated financial statements and related notes. In addition to historical
      information, the following discussion and other parts of this document contain
      certain forward-looking information. When used in this discussion, the words
      “believes,” “anticipates,” “expects,” and similar expressions are intended to
      identify forward-looking statements. Such statements are subject to certain
      risks and uncertainties, which could cause actual results to differ materially
      from those projected due to a number of factors beyond the Company's control.
      The Company does not undertake to publicly update or revise any of its
      forward-looking statements even if experience or future changes show that the
      indicated results or events will not be realized. Readers are cautioned not
      to
      place undue reliance on these forward-looking statements, which speak only
      as of
      the date hereof. Readers are also urged to carefully review and consider the
      Company's discussions regarding the various factors which affect its business,
      included in this section and elsewhere in this report, as well as the
      discussions under the heading “Risk Factors.”.




**Revenue.** The
      Company has not yet generated revenue during this reporting period.





**Cost.** The
      Company has incurred $146,495 in total costs during the period ending December
      31, 2006, compared to the total cost of $14,535 for the same period ended
      December 31, 2005. The increase is caused by more activities associated with
      the
      increased general administrative cost due to more business
      activities.





**Net
      Loss per share** .
      The Net
      Loss per share for the period ending December 31, 2006 is ($0.01). Loss per
      share for the period ending December 31, 2005 is Nil.





**Cash.** On
      December 31, 2006, the Company has $12,820 on cash, compared to $25,631 on
      December 31, 2005.




**Liquidity
      and Capital Resources**





As
      of the
      date of this quarterly report, we have not generated any revenues from our
      business activities.





In
      December 2004, we issued 1,000,000 shares of common stock through an exemption
      from registration contained in section 4(2) of the Securities Act of 1933.
      This
      was accounted for as a sale of shares of common stock.





In
      January 2006, we completed our public offering and raised $101,000.





As
      of
      December 31, 2006, our total assets were $92,820 and our total liabilities
      were
      $364,951.




**ITEM
      3.     CONTROLS AND PROCEDURES.**





**(a)**  ***Evaluation
      of Disclosure Controls and Procedures:*** Disclosure controls and procedures are designed to ensure that information
      required to be disclosed in the reports filed or submitted under the Exchange
      Act is recorded, processed, summarized and reported, within the time period
      specified in the SEC's rules and forms. Disclosure controls and procedures
      include, without limitation, controls and procedures designed to ensure that
      information required to be disclosed in the reports filed under the Exchange
      Act
      is accumulated and communicated to management, including the Chief Executive
      Officer and Chief Financial Officer, as appropriate, to allow timely decisions
      regarding required disclosure. As of the end of the period covered by this
      report, we carried out an evaluation, under the supervision and with the
      participation of our management, including our Chief Executive Officer and
      Chief
      Financial Officer, of the effectiveness of the design and operation of our
      disclosure controls and procedures. Based upon and as of the date of that
      evaluation, the Chief Executive Officer and Chief Financial Officer concluded
      that our disclosure controls and procedures are effective to ensure that
      information required to be disclosed in the reports our files and submits under
      the Exchange Act is recorded, processed, summarized and reported as and when
      required.





**(b)**  ***Changes
      in Internal Control over Financial Reporting:*** There
      were no changes in our internal control over financial reporting identified
      in
      connection with our evaluation of these controls as of the end of the period
      covered by this report that affected those controls subsequent to the date
      of
      the evaluation referred to in the previous paragraph, including any correction
      action with regard to deficiencies and material weakness.




There
      were no changes in our internal controls or in other factors that could affect
      these controls subsequent to the date of their evaluation, including any
      deficiencies or material weaknesses of internal controls that would require
      corrective action.





**PART
      II - OTHER INFORMATION**





**ITEM
      1. LEGAL PROCEEDINGS.**





**None.**




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





**There
      were no unregistered sales of equity securities during the preceding fiscal
      quarter.**





**ITEM
      3. DEFAULTS UPON SENIOR SECURITIES**





**None.**




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





**None.**




**ITEM
      5. OTHER INFORMATION**





**Subsequent
      Event:**





On
      January 30, 2007, Mr. Zhang, JianPing, former President and Director of the
      Company, and owner of 9,000,000 shares of common stock, representing 44.8%
      of
      the outstanding and issued shares of common stock, sold 7,000,000 shares of
      common stock in transactions intended to be exempt from the registration
      requirements of the Securities Act of 1933, as amended, pursuant to Regulation
      S, to seven investors residing in mainland China for a total consideration
      of
      $7,000. Mr. Zhang's remaining 2,000,000 shares represent approximately 9.9%
      of
      the issued and outstanding shares, and the Company takes the position that
      Mr.
      Zhang is no longer an affiliate**.**





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





**(a)**
            **The
                following reports on Form 8-K were filed during the last
                quarter:**





**(1)**
            **Form
                8-K filed on December 8, 2006, disclosing the entry of the Company
                into a
                Joint Venture Agreement with Beijing Star King Talent Agency Ltd.,
                Co., to
                jointly conduct a talent agency business in the People's Republic
                of
                China.**


**(2)**
            **Form
                8-K filed on December 11, 2006, disclosing the appointment of Mr.
                Yi Wang
                as an Independent Director on the Company's Board of
                Directors.**









(b)
      The
      following exhibits are included herein:





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**





Pursuant
      to the requirements of Section 13 or 15(d) of the Securities and Exchange Act
      of
      1934, the Registrant has duly caused this report to be signed on its behalf
      by
      the undersigned, thereunto duly authorized, on 8th of February,
      2007.





**GREATER
                CHINA MEDIA AND ENTERTAINMENT CORP.**(the
                "Registrant")BY:
            /s/
                Xin WeiXin
                Wei, Chairman of Board of DirectorsBY:
            /s/
                John HuiJohn
                Hui, Vice Chairman of Board of
                Directors