SECURITIES AND EXCHANGE COMMISSIONWASHINGTON, D.C. 20549FORM 10-QSB

| [X]    |   | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|--------|------------------------------------------------------------------------------------------|
|   |   | For the period ended September 30, 2006                                                  |
|   |   |                                                                                     |

Commission File Number 000-25997

China Holdings, Inc.(Exact Name of Small Business Issuer as specified in its Charter)

| Nevada                                                         |   | 91-1939533                              |
|----------------------------------------------------------------|--------|-----------------------------------------|
| (State or other Jurisdiction of Incorporation or Organization) |   | (I.R.S. Employer Identification Number) |
|                                                                |   |                                         |
| 69930 Highway 111, Suite 108    Rancho Mirage, CA              |   | 92270                                   |
| (Address of principal executive offices)                       |   | (Zip Code)                              |
|                                                                |   |                                         |

Former Name: Silver Bow Antique Aviation

Check whether the Issuer (1) 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 beensubject to such filing requirements for the past 90 days.

| Yes | [X] | No | [ ] |
|-----|-----|----|-----|

 

Indicate the number of shares outstanding of each of theissuer's classes of Common Equity, as of the latest practicable date.

| Common Stock, no par value |   | 3,190,400                                         |
|----------------------------|--------|---------------------------------------------------|
| Title of Class             |   | Number of Shares Oustanding at September 30, 2006 |
| No exhibits included.      |   |                                              |

PART I 

ITEM 1. Financial Information 

Financial Statements

China Holdings, Inc.  (A Development Stage Company)BALANCE SHEET(Unaudited)

 

| ASSETS                                             |                                                                                                 | September 30 , 2006       |            | December 31, 2005 |
|----------------------------------------------------|------------------------------------------------------------------------------------------------------|---------------------------|-----------------|-------------------|
| CURRENT ASSETS:                                    |                                                                                                 |                      |                 |              |
|                                               | Deposit Cash/New Business Oper.                                                                      | $                         | 0               | $                 | 0 |
|                                               |                                                                                                 | Total Current Assets      | $               | 0                 | $ | 0 |
| FIXED ASSETS: (Note 3)                             |                                                                                                 |                           |                 |                   |
|                                               | Property/Equipment Less                                                                              | $                         | 0               | $                 | 0 |
|                                               | Accumulated Depreciation                                                                             | <                      | 0               | $                 | 0 |
|                                               |                                                                                                 | Net Fixed Assets          | $               | 0                 | $ | 0 |
| TOTAL ASSETS                                       | $                                                                                                    | 0                         | $               | 0                 |
| LIABILITIES & SHAREHOLDERS' EQUITY             |                                                                                                 |                           |                 |                   |
| Current Liabilities: (Note 4)                      |                                                                                                 |                           |                 |                   |
|                                               | Misc. Accured Liabilities                                                                            | $                         | 0               | $                 | 0 |
|                                               | Other Liabilities                                                                                    |                      | 0               |                   | 0 |
|                                               |                                                                                                 | Total current liabilities | $               | 0                 | $ | 0 |
| LONG TERM LIABILITIES: (Note 5)                    | $                                                                                                    | 176,321                   | $               | 176,321           |
|                                               | Net Total Long Term Liabilities                                                                      | $                         | 0               | $                 | 0 |
| TOTAL LIABILITIES                                  | $                                                                                                    | 0                         | $               | 0                 |
| SHAREHOLDERS' EQUITY (NOTE 1)                      |                                                                                                      |                           |                 |                   |
|                                               | 1,000 shares authorized; -0-      shares issued and outstanding                                      | $                         | 0               | $                 | 0 |
|                                               | Common stock, par value $ .001;      99,999,000 shares authorized;issued & outstanding 3,190,400 |                           | 3,190           |                   | 3,190 |
|                                               | Paid-in capital                                                                                      |                           | 20,000          |                   | 20,000 |
|                                               | Retained earnings <Accum. Deficit>                                                             |                           | <199,511> |                   | <199,511> |
| NET EQUITY/RETAINED EARNINGS       <DEFICIT> | $                                                                                                    | <176,321>           | $               | <176,321>   |
| TOTAL ASSETS/LIABILITIES                           | $                                                                                                    | 0                         | $               | 0                 |

The accompanying notes are an integral part of these financial statements. 

China Holdings, Inc.  (A   Development Stage Company)   STATEMENTS OF   OPERATIONS(Unauditied)

|                                         |   | For the three months          ending September 30, 2006 |   | For the nine months          ending September 30, 2006 |   | Cumulative from          inception          (Aug 10, 1998) to           September 30, 2006 |
|----------------------------------------------|--------|---------------------------------------------------------|--------|--------------------------------------------------------|--------|--------------------------------------------------------------------------------------------|
|                                         |   | --------------------                                    |   | --------------------                                   |   | ----------------------                                                                     |
|                                         |   |                                                    |   |                                                   |   |                                                                                       |
| Revenues                                     | $      | -                                                       | $      | -                                                      | $      | -                                                                                          |
| Operating   expenses                         |   | -0-                                                     |   | -0-                                                    |   | 199511                                                                                     |
| Net loss from operations                     |   | -0-                                                     |   | -0-                                                    |   | (199511)                                                                                   |
|                                         |   |                                                    |   |                                                   |   |                                                                                       |
| Other income (expense)                       |   | -                                                       |   | -                                                      |   | -                                                                                          |
| Net loss                                     | $      | -0-                                                     | $      | -0-                                                    | $      | (199511)                                                                                   |
|                                         |   |                                                    |   |                                                   |   |                                                                                       |
| Net loss per share                           | $      | (0.00)                                                  | $      | (0.00)                                                 |   | (0.62)                                                                                     |
|                                         |   |                                                    |   |                                                   |   |                                                                                       |
| Weighted average common shares   outstanding |   | 3,190,400                                               |   | 3,190,400                                              |   | 3,190,400                                                                                  |
|                                         |   |                                                    |   |                                                   |   |                                                                                       |

 

The accompanying notes are an   integral part of these condensed financial statements.

China Holdings, Inc.  (A   Development Stage Company)  STATEMENTS OF CASH FLOWS****(unaudited)

|                                                                                                                                  |   | For the three months          ending September 30, 2006 |   | For the nine months          ending September 30, 2006 |   | Cumulative from          inception          (Aug 10, 1998) to           September 30, 2006 |
|---------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------|--------|--------------------------------------------------------|--------|--------------------------------------------------------------------------------------------|
|                                                                                                                                  |   | --------------------------------                        |   | ------------------------------                         |   | ----------------------------                                                               |
|                                                                                                                                  |   |                                                    |   |                                                   |   |                                                                                       |
| Operating Activities          Net   loss                                                                                              | $      | -0-                                                     | $      | -0-                                                    | $      | (199511)                                                                                   |
| Adjustments to reconcile net   loss to net cash used in operations:                                                                   |   |                                                    |   |                                                   |   |                                                                                       |
| Issuance of shares for services   rendered                                                                                            |   | -                                                       |   | -                                                      |   | 473                                                                                        |
| Issuance of notes payable to   related parties for services rendered                                                                  |   | -                                                       |   | -                                                      |   | 70,000                                                                                     |
| Changes in operating assets and   liabilities:                                                                                        |   |                                                    |   |                                                   |   |                                                                                       |
| Increase in accounts payable                                                                                                          |   | -0-                                                     |   | -0-                                                    |   | -0-                                                                                        |
| Increase in accounts payable   related parties                                                                                        |   |                                                    |   | -                                                      |   | -0-                                                                                        |
|                                                                                                                                  |   | ---------------------------                             |   | ------------------------------                         |   | -------------------------------                                                            |
| Net cash used in operating   activities                                                                                               |   | -                                                       |   | -                                                      |   | (1,027)                                                                                    |
| Investing Activities                                                                                                                  |   | -                                                       |   | -                                                      |   | -                                                                                          |
| Financing   Activities          Issuance of shares for cash                                                                           |   | -                                                       |   | -                                                      |   | 1,027                                                                                      |
|                                                                                                                                  |   | ---------------------------                             |   | ------------------------------                         |   | -------------------------------                                                            |
| Net cash provided by financing   activities                                                                                           |   | -                                                       |   | -                                                      |   | 1,027                                                                                      |
| Net change in cash          Cash at   beginning of period                                                                             |   | -                                                       |   | -                                                      |   | -                                                                                          |
|                                                                                                                                  |   | ---------------------------                             |   | ------------------------------                         |   | -------------------------------                                                            |
| Cash at end of period                                                                                                                 | $      | -                                                       | $      | -                                                      | $      | -                                                                                          |
|                                                                                                                                  |   | ==================                                      |   | ===================                                    |   | ====================                                                                       |
| Supplemental   Information:          Cash paid for interest and income taxes                                                          | $      | -                                                       | $      | -                                                      | $      | -                                                                                          |
|                                                                                                                                  |   | ==================                                      |   | ===================                                    |   | ====================                                                                       |
| Non-cash investing and   financing activities:          Issuance of notes payable to related parties for   services                   | $      | -                                                       | $      | -                                                      | $      | 70,000                                                                                     |
|                                                                                                                                  |   | ==================                                      |   | ===================                                    |   | ====================                                                                       |
| Reclassification from accounts   payable to accounts payable- related parties due to payment of accounts payable   by related parties | $      | -0-                                                     | $      | -                                                      | $      | -0-                                                                                        |
|                                                                                                                                  |   | ==================                                      |   | ===================                                    |   | ====================                                                                       |
| Conversion of related party   notes payable to common stock                                                                           | $      | 70,000                                             | $      | -                                                      | $      | 70,000                                                                                     |
|                                                                                                                                  |   |                                                    |   |                                                   |   |                                                                                       |

The accompanying notes are an integral part of these FINANCIAL STATEMENTS.

 

China Holdings, Inc.(A Development Stage Company)  Notes to Financial StatementsFor The Three Months Ended September 30, 2006

GENERAL:The condensed consolidated financial statements of China Holdings, Inc. included herein, have been prepared pursuant to the rules and  regulations of the Securities and Exchange Commission.  Although  certain information normally included in financial statements prepared  in accordance with generally accepted accounting principles has been  condensed or omitted, Silver Bow believes that the disclosures are  adequate to make the information presented not misleading.  The  condensed financial statements for the nine month period ended September 30,  2006 should be read in conjunction with the financial statements and notesthereto included in this report.

The condensed consolidated financial statements included herein reflect  all normal recurring adjustments that, in the opinion of management,  are necessary for fair presentation.

The Company has not commenced operations and has no working capital.

NOTE 1 - ORGANIZATION AND BUSINESS PLAN:

Company was organized under the laws of the State of Nevada on  April 28, 1994 under the name of Silver Bow Antique Aviation.  TheCompany was incorporated to engage in any lawful activities.

The Company's articles initially authorized 1,000 shares of Preferred  Stock and 10,000 shares of Common Stock, both at a par value of $.001  per share.

Common Stock.

  During 1996, certain consulting services were rendered to the Company  by the majority stockholder, Magellan Capital Corporation, (a Nevada  Corporation doing business in California) and 4 other individuals.  The  value of such services were at the stated par value for 1,041 shares  issued on July 15, 1995 and have been stated on the Balance sheet, the  Statement of Operations and the Cash Flow Statement at $936 for  the year ending 12/31/96, which amount reflects the par value of the  original issue on the date of the 900 for 1 forward stock split on the  1,041 shares.  Revised number of shares issued and outstanding after  the foregoing split were 936,900, with a total value of $936.00 as ofthe end of the year September 30, 1996.

On December 30, 1998, 2,053,500 shares were sold for $2,054 cash at the  stated par value of $.001 per share.  Total shares outstanding at year end  12/31/98 were 2,990,400, with a total value of $2,990.

On September 25, 2001, 200,000 shares were issued at the stated par  value of $.001 per share for services rendered through September, 2001:  100,000 shares to Darren J. Holm, the newly appointed President of the  Company and 50,000 shares each to Randall Baker, Secretary and Norm  LeBoeuf, Controller.

The total number of Common Stock shares outstanding and issued as of the  end of September 30, 2006 and 2005 were 3,190,400, total value $53,190. No  other transactions have taken place since those dates for the Common  Stock of the Company:  Total Common Stock Shares outstanding and issuedat September 30, 2006 were 3,190,400, total value of $53,190.

On October 6, 2005 Silver Bow Antique Aviation, a Nevada corporation, merged with China Holdings, Inc, a Wyoming corporation with the Wyoming corporation surving for the purpose of effecting a name change and redomincile from Nevada to Wyoming. 

Preferred Stock.

  The original articles of incorporation, April 28, 1994, authorized  1,000 shares of Preferred Stock with a stated par value of $.001 per  share.  From inception (April 28, 1994) through September 30, 2006, no  Preferred Stock Shares have been issued, and, none are outstanding.

NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES:

The Articles of Incorporation (as revised) authorize China Holdings, Inc. to issue up to 99,999,000 shares of Common Stock with a par  value of $.001 per share and 1,000 shares of Preferred Stock, with a  par value of $.001 per share.  As of the period ending September 30, 2006,  there were 3,190,400 shares of Common Stock issued and outstanding.  Asof September 30, 2006, no Preferred Stock were issued or outstanding.

NOTE 3 - FIXED ASSETS:

  The Company has no Fixed Assets for the period ending September 30, 2006  and December 31, 2005.  

  NOTE 4 - CURRENT LIABILITIES:

Following are the Current Liabilities of the Company as of September 30,2006 and December 31, 2005 were:

 

| Category Description |              | Amounts due    9/30/2006 |   | Amounts due      12/31/2005 |
|----------------------|-------------------|--------------------------|---|-----------------------------|
| Current Liabilities  | $                 | 0                        | $ | 0                           |
|                      | TOTAL LIABILITIES | $                        | 0 | $                           | 0 |

NOTE 5. LONG TERM LIABILITY

Assets and current liabilities have been consolidated into a long term liability note in favor of a D.K. Mork, the majority stock holder of Silver Bow, as set fourth in Part I - Item 6 . 

NOTE 6.  GOING CONCERN AND INCIDENTAL COSTS:

Incidental costs to maintain legal registrations of the Company in the  State of Nevada and with the Security and Exchange Commissions have  been paid or assumed by Mr. Dempsey Mork, Chief Financial Officer/  Director, the majority shareholder of Silver Bow.  This will continue  for the foreseeable future.

| (b)    |   | List of Exhibits  |
|--------|--------|-------------------|
|   | 31     | 302 Certification |
|   | 32     | 906 Certification |

(B) Reports on Form 8-K

> 
None. 

ITEM 14.   PRINCIPAL ACCOUNTANT FEES AND SERVICES

Audit, tax and accounting fees for ongoing normal business activities  will continue to be paid by Mr. Dempsey Mork, Chief Financial Officer,Director, the majority Shareholder of Silver Bow.

The Board of Directors, acting as the Audit Committee considered  whether, and determined that, the auditor's provision of non-audit  services was compatible with maintaining the auditor's independence.  All of the services described above for fiscal years through the period  ending September 30, 2006, and were approved by the Company’s Board  of Directors pursuant to its policies and procedures. 

 SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities  Exchange Act of 1934, as amended, the Company has duly caused this  Report to be signed on its behalf by the undersigned duly authorized  person.

Date: September 6, 2007  

China Holdings, Inc.

/s/ Darren J. Holm----------------------------------By: Darren J. Holm, President

Pursuant to the requirements of the Securities Exchange Act of 1934,  the Registrant has duly caused this report to be signed on its behalf  by the undersigned thereunto duly authorized.

| Signature           |   | Capacity                    |        | Date              |
|---------------------|--------|-----------------------------|--------|-------------------|
| /s/ Darren J. Holm  |   | President/CEO      Director |        | September 6, 2007 |
| Darren J. Holm      |   |                        |   |              |
|                |   |                        |   |              |
| /s/ Dempsey K. Mork |   | CFO/Director                |   | September 6, 2007 |
| Dempsey K. Mork     |   |                             |   |              |
|                |   |                             |   |              |
| /s/ Norbert LeBoeuf |   | Secretary/Director          |   | September 6, 2007 |
| Norbert LeBoeuf     |   |                        |   |              |