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| Utah                                                           | 81 - 0674073                                    |
|----------------------------------------------------------------|-------------------------------------------------|
| (State or other jurisdiction of Incorporation or organization) | (I.R.S.  Employer Identification No.) |

| 4804 Skycrest Park Cove, Salt Lake City, Utah  |  84108 | 801-531-0404                    |
|------------------------------------------------|-------------|---------------------------------|
|  (Address of principal executive offices) | (Zip Code)  | (Registrant's telephone number) |

| (Copies to:)                                                                                                                                                       |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Steve Taylor, 4804 Skycrest Park Cove, Salt Lake City, Utah, 84108              801 578-3283 |

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|                                       |                                                                                                                                                                                                  | Page     |
|--------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------|
| PART I – FINANCIAL INFORMATION       |                                                                                                                                                                                                  |
|                                       |                                                                                                                                                                                                  |     |
| Item 1.                                    | Financial Statements                                                                                                                                                                                  |     |
|                                       |                                                                                                                                                                                                  |     |
|                                       | Condensed Balance Sheets – December 31, 2010 and June 30, 2010 (Unaudited)                                                                                                                      | 3        |
|                                       |                                                                                                                                                                                                  |     |
|                                       | Condensed Statements of Operations for the Three and Six Months Ended December 31, 2010 and 2009 and for the period from June 15, 2005 (Date of Inception) Through December 31, 2010 (Unaudited) | 4        |
|                                       |                                                                                                                                                                                                  |     |
|                                       | Condensed Statements of Cash Flows for the Six Months Ended December 31, 2010 and 2009 and for the period from June 15, 2005 (Date of Inception) Through December 31, 2010 (Unaudited)                |   5 |
|         |                                                                                                                                                                                                  |     |
|                                       | Notes to Condensed Financial Statements (Unaudited)                                                                                                                                                   | 6        |
|                                       |                                                                                                                                                                                                  |     |
| Item 2.                                    | Management’s Discussion and Analysis of Financial Condition and Results of Operations                                                                                                           | 7        |
|                                       |                                                                                                                                                                                                  |     |
| Item 3.                                    | Quantitative and Qualitative Disclosures about Market Risk                                                                                                                                            | 8        |
|                                       |                                                                                                                                                                                                  |     |
| Item 4T.                                   | Controls and Procedures                                                                                                                                                                               | 8        |
|                                       |                                                                                                                                                                                                  |     |
|                                       |                                                                                                                                                                                                  |     |
| PART II – OTHER INFORMATION          |                                                                                                                                                                                                  |
|                                       |                                                                                                                                                                                                  |     |
| Item 1.                                    | Legal Proceedings                                                                                                                                                                                     | 8        |
|                                       |                                                                                                                                                                                                  |     |
| Item 1A.                                   | Risk Factors                                                                                                                                                                                          | 8        |
|                                       |                                                                                                                                                                                                  |     |
| Item 2.                                    | Unregistered Sales of Equity Securities and Use of Proceeds                                                                                                                                           | 8        |
|                                       |                                                                                                                                                                                                  |     |
| Item 3.                                    | Default Upon Senior Securities                                                                                                                                                                        | 9        |
|                                       |                                                                                                                                                                                                  |     |
| Item 4.                                    | Submission of Matters to a Vote of Security Holders                                                                                                                                                   | 9        |
|                                       |                                                                                                                                                                                                  |     |
| Item 5.                                    | Other Information                                                                                                                                                                                     | 9        |
|                                       |                                                                                                                                                                                                  |     |
| Item 6.                                    | Exhibits                                                                                                                                                                                              | 9        |
|                                       |                                                                                                                                                                                                  |     |
| Signatures                                 |                                                                                                                                                                                                  | 10       |

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| SCRAP CHINA CORPORATION                                                    |         |     |   |     |   |
|----------------------------------------------------------------------------|--------------|----------|--------|----------|--------|
| (A Development Stage Company)                                              |         |     |   |     |   |
| CONDENSED BALANCE SHEETS                                                   |         |     |   |     |   |
| (Unaudited)                                                                |         |     |   |     |   |
|                                                                       |         |     |   |     |   |
|                                                                       | December 31, |     |   | June 30, |   |
|                                                                       | 2010         |     |   | 2010     |   |
| ASSETS                                                                     |         |     |   |     |   |
| Current Assets                                                             |         |     |   |     |   |
| Cash                                                                       | $            | 273      |   |     | $      | 291 |   |
| Total Assets                                                               | $            | 273      |   |     | $      | 291 |   |
|                                                                       |         |     |   |     |   |   |   |
| LIABILITIES AND STOCKHOLDERS' DEFICIT                                      |         |     |   |     |   |   |   |
| Current Liabilities                                                        |         |     |   |     |   |   |   |
| Accrued liabilities                                                        | $            | 16,605   |   |     | $      | 9,750 |   |
| Payable to related parties                                                 |         | 189,480  |   |     |   | 185,976 |   |
| Total Current Liabilities                                                  |         | 206,085  |   |     |   | 195,726 |   |
| Stockholders' Deficit                                                      |         |     |   |     |   |   |   |
| Common shares - par value $0.001 per share; 250,000,000 shares authorized; |         |     |   |     |   |   |   |
|   7,710,843 shares issued and outstanding, respectively          |         | 7,711    |   |     |   | 7,711 |   |
| Additional paid-in capital                                                 |         | 2,289    |   |     |   | 2,289 |   |
| Deficit accumulated during development stage                               |         | (215,812 | )      |     |   | (205,435 | ) |
| Total Stockholders' Deficit                                                |         | (205,812 | )      |     |   | (195,435 | ) |
| Total Liabilities and Stockholders' Deficit                                | $            | 273      |   |     | $      | 291 |   |

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| SCRAP CHINA CORPORATION                                                                                       |   |                       |      |   |                     |   |      |                   |   |   |      |   |   |
|---------------------------------------------------------------------------------------------------------------|--------|----------------------------|-----------|--------|--------------------------|--------|-----------|------------------------|--------|--------|-----------|--------|--------|
| (A Development Stage Company)                                                                                 |   |                       |      |   |                     |   |      |                   |   |   |      |   |   |
| CONDENSED STATEMENTS OF OPERATIONS                                                                            |   |                       |      |   |                     |   |      |                   |   |   |      |   |   |
| (Unaudited)                                                                                                   |   |                       |      |   |                     |   |      |                   |   |   |      |   |   |   |   |
|                                                                                                          |   |                       |      |   |                     |   |      |                   |   |   |      |   |   |   |   |
|                                                                                                          |   |                       |      |   |                     |   |      |                   |   |   |      |   |   | For the period from |   |
|                                                                                                          |   | For the Three Months Ended |      |   | For the Six Months Ended |   |      | June 15, 2005 (date of |   |
|                                                                                                          |   | December 31,               |      |   | December 31,             |   |      | inception) through     |   |
|                                                                                                          |   | 2010                       |      |   | 2009                     |   |      | 2010                   |   |   | 2009      |   |   | December 31, 2010 |   |
| Sales                                                                                                         |   | $                          | -         |   |                     | $      | -         |                   |   | $      | -         |   |   | $ | - |   |   | $ | - |   |
| Operating Expenses                                                                                            |   |                       |      |   |                     |   |      |                   |   |   |      |   |   |   |   |   |   |   |   |   |
|            Selling, general and adminstrative expenses |   |                       | 7,033     |   |                     |   | 2,061     |                   |   |   | 10,377    |   |   |   | 8,392 |   |   |   | 215,812 |   |
| Total Operating Expenses                                                                                      |   |                       | 7,033     |   |                     |   | 2,061     |                   |   |   | 10,377    |   |   |   | 8,392 |   |   |   | 215,812 |   |
| Net Loss                                                                                                      |   | $                          | (7,033    | )      |                     | $      | (2,061    | )                      |   | $      | (10,377   | )      |   | $ | (8,392 | ) |   | $ | (215,812 | ) |
|                                                                                                          |   |                       |      |   |                     |   |      |                   |   |   |      |   |   |   |   |   |   |   |   |   |
| Basic and Diluted Net Loss per Share                                                                          |   | $                          | -         |   |                     | $      | -         |                   |   | $      | -         |   |   | $ | - |   |   |   |   |   |
| Weighted-Average Common                                                                                       |   |                       |      |   |                     |   |      |                   |   |   |      |   |   |   |   |   |   |   |   |   |
|       Shares Outstanding                                                             |   |                       | 7,710,843 |   |                     |   | 7,710,843 |                   |   |   | 7,710,843 |   |   |   | 7,710,843 |   |   |   |   |   |
|                                                                                                          |   |                       |      |   |                     |   |      |                   |   |   |      |   |   |   |   |   |   |   |   |   |

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| SCRAP CHINA CORPORATION               |   |                     |    |   |                   |   |    |                |   |
|---------------------------------------|--------|--------------------------|---------|--------|------------------------|--------|---------|---------------------|--------|
| (A Development Stage Company)         |   |                     |    |   |                   |   |    |                |   |
| CONDENSED STATEMENTS OF CASH FLOWS    |   |                     |    |   |                   |   |    |                |   |
| (Unaudited)                           |   |                     |    |   |                   |   |    |                |   |
|                                  |   |                     |    |   |                   |   |    |                |   |
|                                  |   |                     |    |   |                   |   |    | For the period from |   |
|                                  |   | For the Six Months Ended |    |   | June 15, 2005 (date of |   |
|                                  |   | December 31,             |    |   | inception) through     |   |
|                                  |   | 2010                     |    |   | 2009                   |   |    | December 31, 2010   |   |
| Cash Flows From Operating Activities: |   |                     |    |   |                   |   |    |                |   |
| Net loss                              |   | $                        | (10,377 | )      |                   | $      | (8,392  | )                   |   | $ | (215,812 | ) |
| Changes in assets and liabilities:    |   |                     |    |   |                   |   |    |                |   |   |   |   |
| Accrued liabilities                   |   |                     | 6,855   |   |                   |   | (3,850  | )                   |   |   | 16,605 |   |
| Net Cash From Operating Activities    |   |                     | (3,522  | )      |                   |   | (12,242 | )                   |   |   | (199,207 | ) |
|                                  |   |                     |    |   |                   |   |    |                |   |   |   |   |
| Cash Flows From Investing Activities: |   |                     | -       |   |                   |   | -       |                |   |   | - |   |
|                                  |   |                     |    |   |                   |   |    |                |   |   |   |   |
| Cash Flows From Financing Activities: |   |                     |    |   |                   |   |    |                |   |   |   |   |
| Payable to related parties            |   |                     | 3,504   |   |                   |   | 12,224  |                |   |   | 189,480 |   |
| Proceeds from sale of common stock    |   |                     | -       |   |                   |   | -       |                |   |   | 10,000 |   |
| Net Cash From Financing Activities    |   |                     | 3,504   |   |                   |   | 12,224  |                |   |   | 199,480 |   |
|                                  |   |                     |    |   |                   |   |    |                |   |   |   |   |
| Net Change in Cash                    |   |                     | (18     | )      |                   |   | (18     | )                   |   |   | 273 |   |
| Cash at Beginning of Period           |   |                     | 291     |   |                   |   | 327     |                |   |   | - |   |
| Cash at End of Period                 |   | $                        | 273     |   |                   | $      | 309     |                |   | $ | 273 |   |

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|   | 1. | General Administration for Quality Supervision, Inspection and Quarantine  – AQSIQ |
|--------|----|----------------------------------------------------------------------------------------------------|

|   | 2. | Compulsory Certificate – CCC |
|--------|----|------------------------------------|

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| 1. | Election of Directors |
|----|-----------------------|

|  Name              |  For                               |  Against/Withheld |  Abstain |  Broker Non-Votes |
|-------------------------|-----------------------------------------|------------------------|---------------|------------------------|
|  Paul Roszel       |      5,279,589 | 0                      | 0             | 0                      |
|  Richard Ivanovick |      5,279,589 | 0                      | 0             | 0                      |
|  James Roszel      |      5,279,589 | 0                      | 0             | 0                      |

| 2. | Ratification of the appointment of Hansen, Barnett & Maxwell, P.C. as the Company’s independent registered public accounting firm for the coming year. |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|  For                               |  Against/Withheld |  Abstain |  Broker Non-Votes |
|-----------------------------------------|------------------------|---------------|------------------------|
|      5,279,589 | 0                      | 0             | 0                      |

|   | (1)  Incorporated by reference herein filed as exhibits to the Company's Registration Statement on Form 10SB previously filed with the SEC on August 18, 2005, and subsequent amendments made thereto. |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Reports on Form 8-K |
|---------------------|

| Filed on December 16, 2010 |
|----------------------------|

| Item 5.07    Submission of Matters to a Vote of Security Holders |
|--------------------------------------------------------------------------------------|

| Filed August 18, 2010 |
|-----------------------|

| Scrap China Corporation                                                                              |   |   | Mailing Address:     |
|------------------------------------------------------------------------------------------------------|--------|--------|----------------------|
| 4804 Skycrest Park Cove                                                                              | or     |   | P.O. Box 58228       |
| Salt Lake City, Utah                                                                                 |   |   | Salt Lake City, Utah |
| USA 84108                                                                                            |   |   | USA, 84158           |
| Telephone:  801 531 0404                                                                   |   |   |                 |
| Fax:              801 531 0707 |   |   |                 |
| Website:   www.scrapchina.com                                                         |   |   |                 |
| Email:        info@scrapchina.com                                 |   |   |                 |

|              |                                                |
|-------------------|-----------------------------------------------------|
|              |   Scrap China Corporation                 |
|              |                                                |
|              |                                                |
|              |                                                |
|              |                                                |
| February 11, 2011 | /s/ Paul Roszel                                     |
|              | Paul Roszel, President and Chairman of the Board of |
|              |    Directors                         |
|              |                                                |
|              |                                                |
|              |                                                |
|              |                                                |
| February 11, 2011 | /s/ Richard Ivanovick                               |
|              | Richard Ivanovick, C.A., Chief Financial and        |
|              |    Accounting Officer                |

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