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                                   EXHIBIT 3.7

         Amended and Restated By-laws of the Registrant, as amended on December
         30, 1996
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                              AMENDED AND RESTATED

                                    BY-LAWS

                                       OF

                       CHINA RESOURCES DEVELOPMENT, INC.

                              ARTICLE I. - OFFICES

                  The office of the Corporation shall be located in any City
and State designated by the Board of Directors. The Corporation may also
maintain other offices at such other places within or without the United States
as the Board of Directors may, from time to time, determine.

                           ARTICLE II. - STOCKHOLDERS

1.       ANNUAL MEETING.

                  The annual meeting of the stockholders shall be held if
called by the Board of Directors within five months after the close of the
fiscal year of the Corporation, for the purpose of electing directors, and
transacting such other business as may properly come before the meeting.

2.       SPECIAL MEETINGS.

                  Special meetings of the stockholders, for any purpose or
purposes, unless otherwise prescribed by statute, may be called by the
president or by the directors, and shall be called by the president at the
request of the holders of not less than ten percent of all the outstanding
shares of the corporation entitled to vote at the meeting.

3.       PLACE OF MEETING

                  The directors may designate any place, either within or
without the State unless otherwise prescribed by statute, as the place of
meeting for any annual meeting or for any special meeting called by the
directors. A waiver of notice signed by all stockholders entitled to vote at a
meeting may designate any place, either within or without the state unless
otherwise prescribed by statute, as the place for holding such meeting. If no
designation is made, or if a special meeting be otherwise called, the place of
meeting shall be the principal office of the corporation.

4.       NOTICE OF MEETING

                  Written or printed notice stating the place, day and hour of
the meeting and, in case of a special meeting, the purpose or purposes for
which the meeting is called, shall be delivered not less than 10 nor more than
fifty 50 days before the date of the meeting, either personally or by mail, by
or at the direction of

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the president, or the secretary, or the officer or persons calling the meeting,
to each stockholder of record entitled to vote at such meeting. If mailed, such
notice shall be deemed to be delivered when deposited in the United States
mail, addressed to the stockholder at his address as it appears on the stock
transfer books of the corporation, with postage thereon prepaid.

5.       CLOSING OF TRANSFER BOOKS OR FIXING OF RECORD DATE.

                  For the purpose of determining stockholders entitled to
notice of or to vote at any meeting of stockholders or any adjournment thereof,
or stockholders entitled to receive payment of any dividend, or in order to
make a determination of stockholders for any other proper purpose, the
directors of the corporation may provide that the stock transfer books shall be
closed for a stated period but not to exceed, in any case, 30 days. If the
stock transfer books shall be closed for the purpose of determining
stockholders entitled to notice of or to vote at a meeting of stockholders,
such books shall be closed for at least 15 days immediately preceding such
meeting. In lieu of closing the stock transfer books, the directors may fix in
advance a date as the record date for any such determination of stockholders,
such date in any case to be not more than 45 days and, in case of a meeting of
stockholders, not less than 15 days prior to the date on which the particular
action requiring such determination of stockholders is to be taken. If the
stock transfer books are not closed and no record date is fixed for the
determination of stockholders entitled to notice of or to vote at a meeting of
stockholders, or stockholders entitled to receive payment of a dividend, the
date on which notice of the meeting is mailed or the date on which the
resolution of the directors declaring such dividend is adopted, as the case may
be, shall be the record date for such determination of stockholders. When a
determination of stockholders entitled to vote at any meeting of stockholders
has been made as provided in this section, such determination shall apply to
any adjournment thereof.

6.       QUORUM.

                  At any meeting of stockholders 50% of the outstanding shares
of the corporation entitled to vote, represented in person or by proxy, shall
constitute a quorum at a meeting of stockholders. If less than said number of
the outstanding shares are represented at a meeting, a majority of the shares
so represented may adjourn the meeting from time to time without further
notice. At such adjourned meeting at which a quorum shall be present or
represented, any business may be transacted which might have been transacted at
the meeting as originally notified. The stockholders present at a duly
organized meeting may continue to transact business until adjournment,
notwithstanding the withdrawal of enough stockholders to leave less than a
quorum.
                                      

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7.       PROXIES.

                  At all meetings of stockholders, a stockholder may vote by
proxy executed in writing by the stockholder or by his duly authorized attorney
in fact. Such proxy shall be filed with the secretary of the corporation before
or at the time of the meeting.

8.       VOTING

                  Each stockholder entitled to vote in accordance with the
terms and provisions of the certificate of incorporation and these by-laws
shall be entitled to one vote, in person or by proxy, for each share of stock
entitled to vote held by such stockholders. Upon the demand of any stockholder,
the vote for directors and upon any question before the meeting shall be by
ballot. All elections for directors shall be decided by majority vote; all
other questions shall be decided by majority vote except as otherwise provided
by the Certificate of Incorporation or the laws of this State.

                       ARTICLE III. - BOARD OF DIRECTORS

1.       GENERAL POWERS.

                  The business and affairs of the corporation shall be managed
by its board of directors. The directors shall in all cases act as a board, and
they may adopt such rules and regulations for the conduct of their meetings and
the management of the corporation, as they may deem proper, not inconsistent
with these by-laws and the laws of this State.

2.       NUMBER, TENURE AND QUALIFICATIONS.

                  The number of directors of the corporation shall be a minimum
of three and a maximum of twenty-five. Each director shall hold office until
the next annual meeting of stockholders and until his successor shall have been
elected and qualified.

3.       REGULAR MEETINGS.

                  A regular meeting of the directors, shall be held without
other notice than this by-law immediately after, and at the same place as, the
annual meeting of stockholders. The directors may provide, by resolution, the
time and place for the holding of additional regular meetings without other
notice than such resolution.

4.       SPECIAL MEETINGS.

                  Special meetings of the directors may be called by or at
the request of the president or any two directors.  The person or
persons authorized to call special meetings of the directors may

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fix the place for holding any special meeting of the directors
called by them.

5.       NOTICE

                  Notice of any special meeting shall be given at least 5 days
previously thereto by written notice delivered personally, or by telegram or
mailed to each director at his business address. If mailed, such notice shall
be deemed to be delivered when deposited in the United States mail so
addressed, with postage thereon prepaid. If notice be given by telegram, such
notice shall be deemed to be delivered when the telegram is delivered to the
telegraph company. The attendance of a director at a meeting shall constitute a
waiver of notice of such meeting, except wherein a director attends a meeting
for the express purpose of objecting to the transaction of any business because
the meeting is not lawfully called or convened.

6.       QUORUM

                  At any meeting of the directors a majority of the directors
shall constitute a quorum for the transaction of business, but if less than
said number is present at a meeting, a majority of the directors present may
adjourn the meeting from time to time without further notice.

7.       MANNER OF ACTING

                  The act of the majority of the directors present at a meeting
at which a quorum is present shall be the act of the directors.

8.       NEWLY CREATED DIRECTORSHIPS AND VACANCIES.

                  Newly created directorships resulting from an increase in the
number of directors and vacancies occurring in the board for any reason except
the removal of directors without cause may be filled by a vote of a majority of
the directors then in office, although less than a quorum exits. Vacancies
occurring by reason of the removal of directors without cause shall be filled
by vote of the stockholders. A director elected to fill a vacancy caused by
resignation, death or removal shall be elected to hold office for the unexpired
term of his predecessor.

9.       REMOVAL OF DIRECTORS

                  Any or all of the directors may be removed for cause by vote
of the stockholders or by action of the board. Directors may be removed without
cause only by vote of the stockholders.

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10.      RESIGNATION

                  A director may resign at any time by giving written notice to
the board, the president or the secretary of the corporation. Unless otherwise
specified in the notice, the resignation shall take effect upon receipt thereof
by the board or such officer, and the acceptance of the resignation shall not
be necessary to make it effective.

11.      COMPENSATION

                  No compensation shall be paid to directors, as such, for
their services, by resolution of the board a fixed sum and expenses for actual
attendance at each regular or special meeting of the board may be authorized.
Nothing herein contained shall be construed to preclude any director from
serving the corporation in any other capacity and receiving compensation
therefor.

12.      PRESUMPTION OF ASSENT

                  A director of the corporation who is present at a meeting of
the directors at which action on any corporate matter is taken shall be
presumed to have assented to the action taken unless his dissent shall be
entered in the minutes of the meeting or unless he shall file his written
dissent to such action with the person acting as the secretary of the meeting
before the adjournment thereof or shall forward such dissent by registered mail
to the secretary of the corporation immediately after the adjournment of the
meeting. Such right to dissent shall not apply to a director who voted in favor
of such action.

13.      EXECUTIVE AND OTHER COMMITTEES

                  The board, by resolution, may designate from among its
members an executive committee and other committees, each consisting of three
or more directors. Each such committee shall serve at the pleasure of the
board.

                             ARTICLE IV. - OFFICERS

1.       NUMBER

                  The officers of the corporation shall be a president, a
vice-president, a secretary and a treasurer, each of whom shall be elected by
the directors. Such other officers and assistant officers as may be deemed
necessary may be elected or appointed by the directors. Any two or more offices
may be held by the same person.

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2.       ELECTION AND TERM OF OFFICE

                  The officers of the corporation to be elected by the
directors shall be elected at a meeting of the directors held when determined
by the directors. Each officer shall hold office until his successor shall have
been duly elected and shall have qualified or until his death or until he shall
resign or shall have been removed in the manner hereinafter provided.

3.       REMOVAL

                  Any officer or agent elected or appointed by the directors
may be removed by the directors whenever in their judgment the best interests
of the corporation would be served thereby, but such removal shall be without
prejudice to the contract rights, if any, of the person so removed.

4.       VACANCIES

                  A vacancy in any office because of death, resignation,
removal, disqualification or otherwise, may be filled by the directors for the
unexpired portion of the term.

5.       SALARIES

                  The salaries of the officers shall be fixed from time to time
by the directors and no officer shall be prevented from receiving such salary
by reason of the fact that he is also a director of the corporation.

               ARTICLE V. - CONTRACTS, LOANS, CHECK AND DEPOSITS

1.       CONTRACTS

                  The directors may authorize any officer or officers, agent or
agents, to enter into any contract or execute and deliver any instrument in the
name of and on behalf of the corporation, and such authority may be general or
confined to specific instances.

2.       LOANS

                  No loans shall be contracted on behalf of the corporation and
no evidences of indebtedness shall be issued in its name unless authorized by a
resolution of the directors. Such authority may be general or confined to
specific instances.

3.       CHECKS, DRAFTS, ETC.

                  All checks, drafts or other orders for the payment of money,
notes or other evidences of indebtedness issued in the name of the corporation,
shall be signed by such officer or officers,

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agent or agents of the corporation and in such manner as shall from time to
time be determined by resolution of the directors.

4.       DEPOSITS

                  All funds of the corporation not otherwise employed shall be
deposited from time to time to the credit of the corporation in such banks,
trust companies or other depositaries as the directors may select.

            ARTICLE VI. - CERTIFICATES FOR SHARES AND THEIR TRANSFER

1.       CERTIFICATES FOR SHARES

                  Certificates representing shares of the corporation shall be
in such form as shall be determined by the directors. Such certificates shall
be signed by the president and by the secretary or by such other officers
authorized by law and by the directors. All certificates for shares shall be
consecutively numbered or otherwise identified. The name and address of the
stockholders, the number of shares and date of issue, shall be entered on the
stock transfer books of the corporation. All certificates surrendered to the
corporation for transfer shall be canceled and no new certificate shall be
issued until the former certificate for a like number of shares shall have been
surrendered and canceled; except that in case of a lost, destroyed or mutilated
certificate a new one may be issued therefor upon such terms and indemnity to
the corporation as the directors may prescribe.

2.       TRANSFERS OF SHARES

                  (a) Upon surrender to the corporation or the transfer agent
of the corporation of a certificate for shares duly endorsed or accompanied by
proper evidence of succession, assignment or authority to transfer, it shall be
the duty of the corporation to issue a new certificate to the person entitled
thereto, and cancel the old certificate; every such transfer shall be entered
on the transfer book of the corporation which shall be kept at its principal
office.

                  (b) The corporation shall be entitled to treat the holder of
record of any share as the holder in fact thereof, and, accordingly, shall not
be bound to recognize any equitable or other claim to or interest in such share
on the part of any other person whether or not it shall have express or other
notice thereof, except as expressly provided by the laws of this state.

                           ARTICLE VII. - FISCAL YEAR

                  The fiscal year of the corporation shall end on the 31st day
of December in each year.

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                           ARTICLE VIII. - DIVIDENDS

                  The directors may from time to time declare, and the
corporation may pay, dividends on its outstanding shares in the manner and upon
the terms and conditions provided by law.

                               ARTICLE IX. - SEAL

                  The directors shall provide a corporate seal which shall be
circular in form and shall have inscribed thereon the name of the corporation
and the words, "Corporate Seal".

                         ARTICLE X. - WAIVER OF NOTICE

                  Unless otherwise provided by law, whenever any notice is
required to be given to any stockholder or director of the corporation under
the provisions of these by-laws or under the provisions of the articles of
incorporation, a waiver thereof in writing, signed by the person or persons
entitled to such notice, whether before or after the time stated therein, shall
be deemed equivalent to the giving of such notice.

                            ARTICLE XI. - AMENDMENTS

                  These by-laws may be altered, amended or repealed and new
by-laws may be adopted by a vote of a majority of a quorum of the directors, or
by a vote of the stockholders representing a majority of a quorum of all the
shares issued and outstanding at any annual stockholders' meeting or at any
special stockholders' meeting when the proposed amendment has been sent out in
a notice of such meeting.

         The By-laws of China Resources Development, Inc. (the "Corporation"),
were amended and restated pursuant to (i) a resolution of the Board of
Directors of the corporation unanimously adopted at a special meeting of the
Board held on November 29, 1996, and (ii) a vote by the shareholders of the
corporation holding at least a majority of each class of stock outstanding and
entitled to vote, at the annual meeting of shareholders held on December 30,
1996.

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