`UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   FORM 10-QSB
(Mark One)


[x]      QUARTERLY REPORT UNDER SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE
                                   ACT OF 1934
                For the quarterly period ended September 30, 2006

[ ]      TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE EXCHANGE ACT
              For the transition period from _________ to _________

                        Commission file number 000-26169
                        ----------------------

                                Chinawe.com Inc.
                  ---------------------------------------------
        (Exact name of small business issuer as specified in its charter)




                            California                                           95-462728
                       --------------------                                   ------------------
      (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.)


                            Room 1304, Dongbao Tower
                             767 Dongfeng Road East
                             Guangzhou, China 510600
                             -----------------------
                    (Address of principal executive offices)

                                (8620) 3821-0119
                             ----------------------
                           (Issuer's telephone number)

Indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act).  Yes ____ No    X

The number of shares outstanding of the issuer's common stock, par value $.001
per share, as of November 14, 2006 was 43,800,000.

Transitional Small Business Disclosure Format (Check one): Yes [ ]   No [X]






                                CHINAWE.COM INC.



PART I - FINANCIAL INFORMATION                                                          Page No.
Item 1.  Financial Statements

         Consolidated Condensed Balance Sheet as of
         September 30, 2006 (Unaudited)                                                    3

         Consolidated Condensed Statements of Operations for
         the Three and Nine months ended September 30, 2006 (Unaudited)
         and September 30, 2005 (Unaudited)                                                4

         Consolidated Condensed Statements of Cash Flows for
         the Nine months ended September 30, 2006 (Unaudited)
         and September 30, 2005 (Unaudited)                                                5

         Notes to the Consolidated Condensed Financial Statements
         Nine months ended September 30, 2006 (Unaudited)
         and September 30, 2005 (Unaudited)                                                6

Item 2.  Management's Discussion and Analysis or Plan of Operation                        11

Item 3.  Controls and Procedures                                                          14

PART II - OTHER INFORMATION

Item 6.  Exhibits                                                                         15

SIGNATURES                                                                                16





                                       2








PART I - FINANCIAL INFORMATION
Item 1.  Financial Statements.

                                CHINAWE.COM INC.
                      CONSOLIDATED CONDENSED BALANCE SHEET
                                   (UNAUDITED)



                                                                                      Note         As of
                                                                                            September 30, 2006
                                                                                                     US$

ASSETS
Current assets:
Cash and cash equivalents                                                                           275,591
Accounts receivable, net of allowance
   for doubtful accounts of US$2,205                                                                 18,999
Prepayments, deposits and other debtors                                                              23,042
                                                                                                  ---------
Total current assets                                                                                317,632

Property, plant and equipment, net                                                       5           98,089
                                                                                                  ---------

TOTAL ASSETS                                                                                        415,721
                                                                                                  =========

LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Temporary receipt                                                                                    46,448
Accrued expenses and other current liabilities                                                      208,041
Current portion of long-term debt                                                        6           12,297
Due to related parties                                                                   7          507,144
Income tax payable                                                                       8          377,845
Surcharge on taxes                                                                       9           41,465
                                                                                                  ---------

Total current liabilities                                                                         1,193,240
                                                                                                  ---------

Long term liabilities:
Non-current portion of long-term debt                                                    6           29,717
                                                                                                  ---------


Contingencies and commitments                                                            9

Stockholders' deficit:
Preferred stock, par value US$0.001 per share;
   authorized 20,000,000 shares; none issued
Common stock, par value US$0.001 per share;
   authorized 100,000,000 shares; issued
     and outstanding 43,800,000 shares                                                               43,800
Capital in excess of par                                                                             85,948
Accumulated losses                                                                                 (936,383)
Accumulated other comprehensive loss                                                                   (601)
                                                                                                   ---------

Total stockholders' deficit                                                                        (807,236)
                                                                                                   --------

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT                                                         415,721
                                                                                                   ========





                                       3


See notes to the consolidated condensed financial statements.





                                CHINAWE.COM INC.
                 CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
                                   (UNAUDITED)



                                                      NOTE        Three months ended     Nine months ended
                                                                     September 30,         September 30,
                                                                  2006            2005        2006        2005
                                                                    US$            US$          US$        US$

OPERATING REVENUES
On-line services income                                             -            7,637          55       21,847
Asset management and related services                           372,821        253,832   1,134,249      757,721
                                                                -------        -------   ---------      -------
                                                                372,821        261,469   1,134,304      779,568
Depreciation                                                    (12,548)       (10,857)    (36,619)     (15,710)
Administrative and general expenses                            (369,164)      (204,983)   (899,875)    (398,595)
                                                                -------        -------   ---------      -------

(LOSS) INCOME FROM OPERATIONS                                    (8,891)        45,629     197,810      365,263

NON-OPERATING INCOME (EXPENSE)
Interest                                                         (8,326)        (7,894)    (25,117)     (23,593)
Surcharge on taxes                                              (14,191)             -     (41,465)           -
Other income                                                        326            950       1,179        1,769
                                                                -------        -------   ---------      -------

(LOSS) INCOME BEFORE INCOME TAXES                               (31,082)        38,685     132,407      343,439

Income tax expense                                       8      (22,375)       (17,687)   (135,953)     (42,556)

                                                                -------        -------   ---------      -------

NET (LOSS) INCOME                                               (53,457)        20,998      (3,546)     300,883
                                                                =======        =======   =========      =======


Basic and diluted net (loss) income
     per share of common stock                                    (0.00)          0.00       (0.00)        0.01
                                                                =======        =======   =========      =======


Weighted average number of shares
 of common stock outstanding                                 43,800,000     43,800,000  43,800,000   43,800,000
                                                             ==========     ==========  ==========   ==========







See notes to the consolidated condensed financial statements.


                                       4





                                CHINAWE.COM INC.
                 CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS
                                   (UNAUDITED)



..
                                                                                  Nine months ended September 30,
                                                                                    2006             2005
                                                                                     US$              US$

CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income                                                                (3,546)          300,883
Adjustments to reconcile net income to net cash provided by operating
   activities:
   Depreciation                                                                  36,619            15,710
   Exchange differences                                                           3,436             1,926
   Changes in operating assets and liabilities:
     Accounts receivable, net                                                    30,505          (120,099)
     Prepayments, deposits and other debtors                                     31,484           (18,647)
     Temporary receipt                                                           46,448                -
     Customer deposits received                                                  (7,344)           (4,126)
     Accrued expenses and other current liabilities                              (8,132)           31,035
     Surcharge on taxes                                                          41,465                 -
     Income tax payable                                                         135,953            42,556
                                                                             ----------         ---------

NET CASH PROVIDED BY OPERATING ACTIVITIES                                       306,888           249,238
                                                                             ----------         ---------

CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment                                        (5,724)         (107,957)
                                                                             ----------         ---------

NET CASH USED IN INVESTING ACTIVITIES                                            (5,724)         (107,957)
                                                                             ----------         ---------

CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of long-term debt                                                      (9,222)          (11,131)
Advance from related parties                                                    207,471           102,690
Repayment to related parties                                                   (456,211)         (173,983)
(Decrease) Increase in loan from a director                                      (9,194)            4,823
                                                                             ----------         ---------

NET CASH USED IN FINANCING ACTIVITIES                                          (267,156)          (77,601)
                                                                             ----------         ---------

Effect of exchange rate changes                                                   4,273              (368)
                                                                             ----------         ---------

NET  INCREASE IN CASH AND CASH EQUIVALENTS                                       38,281            63,312

Cash and cash equivalents, beginning of period                                  237,310            14,929
                                                                             ----------         ---------

CASH AND CASH EQUIVALENTS, END OF PERIOD                                        275,591            78,241
                                                                             ==========         =========

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for interest                                                           25,117            23,593
                                                                             ==========         =========






See notes to the consolidated condensed financial statements.



                                       5




                                CHINAWE.COM INC.
            NOTES TO THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                  NINE MONTHS ENDED SEPTEMBER 30, 2006 AND 2005
                                   (UNAUDITED)

1. The interim financial statements

         The accompanying financial statements have been prepared by Chinawe.com
Inc. ("Chinawe") and its subsidiaries (collectively referred to as the
"Company") and, in the opinion of management, reflect all material adjustments
which are necessary for a fair statement of results for the interim periods
presented, including normal recurring adjustments. Certain information and
footnote disclosures made in the Company's Annual Report on Form 10-KSB for the
year ended December 31, 2005 (the "10-KSB") have been condensed or omitted for
the interim statements. It is the Company's opinion that, when the interim
statements are read in conjunction with the 10-KSB, the disclosures are adequate
to make the information presented not misleading. The results of operations for
the nine months ended September 30, 2006 are not necessarily indicative of the
operating results for the full year.

2.       Description of business

         The Company was formed pursuant to the corporation laws of the State of
California on March 19, 1997. The Company's principal business is providing
professional management services relating to non-performing loans ("NPL" or
"NPLs") in the People's Republic of China ("PRC"). The Company's professional
service platform provides comprehensive solutions to NPL assets, either by
expediting ownership transactions between the portfolio owners and their
purchasers, or by negotiating with the relevant debtors to facilitate financial
restructures. The Company is also actively seeking a wide scope of asset
management opportunities among various industries located in the PRC.

Guangzhou Welcon Information Limited ("WIT (GZ)"), a subsidiary of the Company
from which the Company previously derived a great proportion of its revenues,
terminated its operations on October 31, 2005 and was dissolved in February
2006. The activities of WIT (GZ) for the year ended December 31, 2005 were
insignificant and immaterial to the financial statements of the Company.

3.       Organization

         The consolidated financial statements include the accounts of Chinawe
and the following subsidiaries:

Officeway Technology Limited; incorporated in the British Virgin Islands in
December 1999, formed for the purpose of acquiring (in March 2000) its
wholly-owned subsidiary, Chinawe Asset Management Limited ("CAM (HK)").

CAM (HK); a company incorporated in Hong Kong in June 1997, which changed its
core business from providing the production of website images and a
business-to-business e-marketplace to being a holding company owning all the
shares of CAM (PRC) (as defined below).

Chinawe Asset Management (PRC) Limited ("CAM (PRC)") was established in the PRC
in April 2005 to service the NPLs under services agreements with Huizhou One
Limited, a subsidiary of Citigroup Financial Products Inc. ("CFP").


                                       6




                                CHINAWE.COM INC.
            NOTES TO THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                  NINE MONTHS ENDED SEPTEMBER 30, 2006 AND 2005
                                   (UNAUDITED)

4. Summary of significant accounting policies

         (a) Basis of accounting

The financial statements have been prepared in accordance with generally
accepted accounting principles in the United States of America ("US").

        (b) Basis of presentation

The accompanying financial statements present the financial position of the
Company as of September 30, 2006, and its results of operations for the three
and nine months ended September 30, 2006 and 2005 and cash flows for the nine
months ended September 30, 2006 and 2005. All inter-company accounts and
transactions have been eliminated in consolidation.

         (c) Translation of foreign currencies

The Company's functional currency is Renminbi, which is the currency of the
primary economic environment in which the Company operates. For reporting
purposes, the amounts shown in the financial statements are presented in US
dollars ("reporting currency").

For translation of financial statements into the reporting currency, assets and
liabilities for each balance sheet presented are translated at the rates of
exchange existing at the period end date. Income and expenses for each income
statement presented are translated at the average rates during the period.
Resulting exchange differences are recognized in accumulated other comprehensive
income (loss) within stockholders' equity.

         (d) Going concern consideration

The Company's financial statements for the nine months ended September 30, 2006
have been prepared on a going concern basis, which contemplates the realization
of assets and the settlement of liabilities and commitments in the normal course
of business. As of September 30, 2006, the Company had negative working capital
and a stockholders' deficit of US$875,608 and US$807,236, respectively, which
raised substantial doubt about its ability to continue as a going concern.

Management is of the view that although the Company has experienced difficulty
in meeting its liquidity needs, such difficulty has been greatly alleviated
recently due to the change in the Company's business. Although the increase in
income tax expense and provision for surcharge on tax led to a loss in this
quarter, the continuing net cash inflows from operating activities make
management of the Company confident that the servicing arrangements with a
subsidiary of CFP will generate sufficient cash flows for operations, gradually
improve its financial condition, and eventually erase doubts as to the Company's
ability to operate as a going concern.

         (e) New accounting pronouncements

There are no new accounting pronouncements the adoption of which is expected to
have a material effect on the Company's financial statements.

                                       7





                                CHINAWE.COM INC.
            NOTES TO THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                  NINE MONTHS ENDED SEPTEMBER 30, 2006 AND 2005
                                   (UNAUDITED)

5. Property, plant and equipment, net

        Property, plant and equipment are summarized as follows:


                                                    As of September 30, 2006
                                                              US$

         Office equipment                                    10,346
         Computer equipment                                  10,074
         Leasehold improvement                               57,440
         Motor vehicle                                       99,119
                                                            -------

                                                            176,979
         Accumulated depreciation                           (78,890)
                                                           --------

         Net                                                 98,089
                                                           ========


6.   Long-term debt

Long-term debt consists of an obligation under a capital lease with US$42,014
outstanding as of September 30, 2006. The debt is secured by a motor vehicle
with a net book value of US$28,751, bearing interest at 3-5% per annum and is
repayable in monthly installments of US$1,228, with the final installment due in
February 2010. Maturity of the debt is as follows:

                                                   As of  September 30, 2006
                                                              US$

         Within 1 year                                       14,736
         Over 1 year but not exceeding 2 years               14,736
         Over 2 years but not exceeding 3 years              14,736
         Over 3 years but not exceeding 4 years               6,140
                                                         ----------
                                                             50,348
         Less: Amount representing interest                  (8,334)
                                                          ---------
         Present value of net minimum lease payments         42,014
                                                          =========

                                       8




                                CHINAWE.COM INC.
            NOTES TO THE CONSOLIDATED CONDENSED FINANCIAL STATEMENTS
                  NINE MONTHS ENDED SEPTEMBER 30, 2006 AND 2005
                                   (UNAUDITED)


7. Related party transactions

      The balances with related parties are as follows:



                                                                     As of September 30, 2006
                                                                               US$
                                                        NOTE

         Loan from a director, including interest        (a)                 136,211
         Advances from stockholders                      (b)                 370,933
                                                                          ----------
                                                                             507,144
                                                                          ==========


   (a) The loan from a director is unsecured, interest bearing and was
originally due to be repaid on June 30, 2004. Interest expense charged for the
nine months ended September 30, 2006 and 2005 was US$23,287 and US$23,593,
respectively. The maturity date of this loan was extended until December 2006.

      (b) Balances with related parties are unsecured, non-interest bearing and
repayable on demand. During the nine months ended September 30, 2006 and 2005,
the Company received advances from related parties of US$207,471 and US$102,690,
respectively. In addition, during the nine months ended September 30, 2006 and
2005, the Company repaid advances of US$456,211 and US$173,983, respectively.

8.    Income taxes

It is management's intention to reinvest all the income attributable to the
Company earned by its operations outside the US. Accordingly, no US corporate
income taxes are provided for in these financial statements.

The Company is subject to income taxes on an entity basis on income arising in,
or derived from, the tax jurisdiction in which each entity is domiciled.

Under the current laws of the British Virgin Islands (the "BVI"), dividends and
capital gains arising from the Company's investments in the BVI are not subject
to income taxes and no withholding tax is imposed on payments of dividends to
the Company.

Companies that carry on business and derive income in Hong Kong are subject to
Hong Kong income tax at 17.5%. Companies that carry on business and derive
income in the PRC are subject to income tax at 33%. The income tax expense for
the period represents the PRC enterprise income tax charged on the profit earned
in the PRC.

No income taxes have been provided for CAM (HK) as it has incurred losses since
commencement of its operations.


9. Contingencies

One of the subsidiaries of Chinawe in the PRC is subject to the PRC enterprise
income tax and business tax. However, up to September 30, 2006, that subsidiary
has only submitted tax returns and made payments for a portion of the total tax
liabilities, which is not in compliance with the tax laws and regulations in the
PRC. For this reason, the Company has made full provision for all tax
liabilities in accordance with the relevant tax laws and regulations, together
with a default interest that may be levied on the Company at a daily rate of
0.05% of the underpaid taxes.

                                       9


Despite the fact that the Company has fully accrued the taxes and related
default interest in the financial statements, the Company may be subject to
penalties ranging from 50% to 500% of the underpaid tax amounts. The exact
amount of the penalty cannot be estimated with any reasonable degree of
certainty.


10.    Stock Plan

On July 25, 2001 the Board of Directors approved the Chinawe.com Inc. 2001
Restricted Stock Plan (the "Plan"), under which 5,000,000 shares of the
Company's common stock have been reserved for award under the Plan.

Pursuant to the Plan, stock awards may be granted to eligible officers,
directors, employees and consultants of the Company. Through September 30, 2006,
no awards have been made under the Plan.


                                       10








Item 2. Management's Discussion and Analysis or Plan of Operation.

        The following discussion should be read in conjunction with the
Consolidated Condensed Financial Statements and Notes thereto appearing
elsewhere in this Form 10-QSB. The following discussion contains forward-looking
statements. Our actual results may differ significantly from those projected in
the forward-looking statements. Factors that might cause future results to
differ materially from those projected in the forward-looking statements
include, but are not limited to, those discussed in "Risk Factors" in the 10-KSB
and elsewhere in this document.

Overview - Results of Operations

The Company's financial statements for the nine months ended September 30, 2006
have been prepared on a going concern basis, which contemplates the realization
of assets and the settlement of liabilities and commitments in the normal course
of business. For the nine months ended September 30, 2006, the Company reported
a net loss of US$3,546 and as of September 30, 2006 had a stockholders' deficit
and a working capital deficit of US$807,236 and US$875,608, respectively.

Three Months ended September 30, 2006 compared to the Three Months ended
September 30, 2005

Revenues. Revenues for the three months ended September 30, 2006 was US$372,821
as compared to that of US$261,469 for the three months ended September 30, 2005,
an increase of 43%. As a result of focusing on the new business development of
providing services relating to the management of non-performing loans as
discussed in "Liquidity and Capital Resources" below, revenue earned from the
e-commerce business is no longer our major business and all revenues were
derived from asset management services.

Expenses. Administrative and general expenses for the three months ended
September 30, 2006 were US$369,164 as compared to US$204,983 for the three
months ended September 30, 2005, an increase of 80%. The increase was mainly
attributable to the growing asset management business of the Company. Compared
to the three months ended September 30, 2005, the increase in administrative and
general expenses for the three months ended September 30, 2006 was mainly
comprised of the increase in salary expense from US$103,314 to US$123,276,
rental expense from US$12,175 to US$16,084, motor vehicle expense from US$18,075
to US$28,290, bad debts from nil to US$30,539 and professional fees from
US$9,547 to US$77,318, respectively. The increase in professional fees was a
result of the engagement of third party consultants for subcontracting asset
management and related work.

As a result of loans advanced to the Company by a director in the third quarter
of 2003, the Company has incurred interest expense of US$7,762 and US$7,690
payable to the director for the three months ended September 30, 2006 and 2005,
respectively.

Taxation. Income tax expense for the three months ended September 30, 2006
increased from US$17,687 to US$22,375 and the provision of surcharge on tax is
US$14,191 in 2006 but none in 2005. These two factors are the main reasons for
the Company turning from a profit to a loss.

As a consequence of the foregoing, we had a loss from operations for the three
months ended September 30, 2006 of US$8,891 as compared to income from
operations of US$45,629 for the three months ended September 30, 2005. Our net
loss for the three months ended September 30, 2006 was US$53,457 as compared to
net income for the three months ended September 30, 2005 of US$20,998.

                                       11



Nine months ended September 30, 2006 compared to the Nine months ended September
30, 2005

Revenues. Revenues for the nine months ended September 30, 2006 were
US$1,134,304 as compared to that of US$779,568 for the nine months ended
September 30, 2005, an increase of 46%. As a result of focusing on the new
business development of providing services relating to the management of
non-performing loans as discussed in "Liquidity and Capital Resources" below,
revenue earned from the e-commerce business is no longer our major business and
all revenues were derived from asset management services.

Expenses. Administrative and general expenses for the nine months ended
September 30, 2006 were US$899,875 as compared to US$398,595 for the nine months
ended September 30, 2005, an increase of 126%. The increase was mainly
attributable to the growing asset management business of the Company. Compared
to the nine months ended September 30, 2005, the increase in administrative and
general expenses for the nine months ended September 30, 2006 was mainly
comprised of the increase in salary expense from US$201,474 to US$339,003,
rental expense from US$28,118 to US$49,087, motor vehicle expense from US$23,019
to US$69,726, bad debts from nil to US$30,539 and professional fees from
US$18,401 to US$207,344, respectively. The increase in professional fees was a
result of the engagement of third party consultants for subcontracting asset
management and related work.

As a result of loans advanced to the Company by a director in the third quarter
of 2003, the Company has incurred interest expense of US$23,287 and US$23,593
payable to the director for the nine months ended September 30, 2006 and 2005,
respectively.

Taxation. Income tax expense for the three months ended September 30, 2006
increased from US$17,687 to US$22,375 and the provision of surcharge on tax is
US$14,191 in 2006 but none in last year. These two factors are the main reasons
for the Company turning from a profit to a loss.

As a consequence of the foregoing, we had income from operations for the nine
months ended September 30, 2006 of US$197,810 as compared to US$365,263 for the
nine months ended September 30, 2005. Our net loss for the nine months ended
September 30, 2006 was US$3,546 as compared to net income of US$300,883 for the
nine months ended September 30, 2005.

Liquidity and Capital Resources

The Company's financial statements for the nine months ended September 30, 2006
have been prepared on a going concern basis, which contemplates the realization
of assets and the settlement of liabilities and commitments in the normal course
of business. For the nine months ended September 30, 2006, the Company reported
a net loss of US$3,546 and as of September 30, 2006 had a stockholders' deficit
and a working capital deficit of US$807,236 and US$875,608, respectively.
Although the Company has experienced difficulty in meeting its liquidity needs,
such difficulty has been greatly alleviated recently due to the change in the
Company's business. Management of the Company is confident that the following
plan should address the issue of the Company continuing as a going concern:

The Company has begun to receive fees on a regular basis. Although increase in
income tax expense and provision for surcharge on tax led to a loss in this
quarter, the continuing net cash inflows from operating activities make
management feel confident that the Company's working capital will become better
and cashflow is sufficient to support the Company's going forward. However, we
may need to raise additional funds in order to meet funding requirements of a
more rapid expansion plan, potential acquisitions, as well as development of new
or enhanced products or services in response to competitive pressures or to
acquire technologies or complimentary products or businesses. However, there is
no guarantee that we will be able to raise such funds.


Quantitative and Qualitative Disclosures about Market Risk

We are not exposed to a material level of market risk due to changes in interest
rates, since we do not have outstanding debt instruments and we do not maintain
a portfolio of interest-sensitive debt instruments.

However, as our asset management business is carried out more and more
comprehensively, we may be exposed to a material level of market risk due to
undeveloped financial and credit systems in China. Laws, regulations and
policies are insufficient to protect asset owners. As an asset management
servicer, we can only ensure due professional care.

                                       12


During the nine months ended September 30, 2006, we derived a significant
portion of revenues in the form of USD. From October 2005 onwards, however, we
derived and expect in the future to derive a significant portion of revenues in
the form of Chinese Renminbi ("RMB") and, therefore, may be exposed to
significant currency risks between the RMB and other major foreign currencies in
the future. Previously, because the RMB was effectively pegged to the U.S.
dollar, it was not significantly important for the Company to engage in hedging
activities to mitigate the impact of changes in foreign exchange rates. However,
in the future management may use foreign currency forward exchange contracts as
a vehicle for hedging purposes if the PRC adopts a floating system and our
management determines that the volatility of currency risks is material to the
Company's operations and financial performance.


Critical Accounting Policies and Estimates

Our financial statements reflect the selection and application of accounting
policies, which require management to make significant estimates and
assumptions. We believe that the following are some of the more critical
judgment areas in the application of our accounting policies that currently
affect our financial condition and results of operations.

Revenue recognition and valuation. The Company generally recognizes asset
management and related services income, as well as online subscription and
service income when persuasive evidence of an arrangement exists, services are
rendered, the fee is fixed or determinable, and collectability is probable.
Asset management and related services income is recognized when services are
rendered in accordance with the terms of agreements.

We maintain allowances for doubtful accounts for estimated losses resulting from
the inability of our customers to make required payments. If the financial
condition of our customers were to deteriorate, resulting in an impairment of
their ability to make payments, additional allowances may be required which
would result in an additional general and administrative expense in the period
such determination was made.


Related party transaction. We do not have any of the following:

       o Certain trading activities that include non-exchange traded contracts
         accounted for at fair value.

       o Relationships and transactions with persons or entities that derive
         benefits from any non-independent relationships other than related
         party transactions discussed herein.

Off-Balance Sheet Arrangements

The Company has no off-balance sheet arrangements that have or are reasonably
likely to have a current or future effect on the Company's financial condition,
changes in financial condition, revenues or expenses, results of operations,
liquidity, capital expenditures or capital resources that is material to the
Company.



                                       13




Item 3.  Controls and Procedures

      (a) Evaluation of Disclosure Controls and Procedures

            Our disclosure controls and procedures (as defined in Rules
13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended
(the "Exchange Act")) are designed to ensure that information required to be
disclosed in the reports that we file or submit under the Exchange Act is
recorded, processed, summarized and reported within the time periods specified
in the rules and forms of the SEC. The Company carried out an evaluation, under
the supervision and with the participation of the Company's management,
including the Company's Chief Executive Officer and Chief Financial Officer, of
the effectiveness of the design and operation of the Company's disclosure
controls and procedures as of September 30, 2006 and, based on their evaluation,
the Chief Executive Officer and Chief Financial Officer concluded that the
Company's disclosure controls and procedures are effective.

      (b) Changes in Internal Controls

            There have been no significant changes in the Company's internal
controls or in other factors that could significantly affect these controls
subsequent to the date the Company carried out its evaluation.


                                       14





PART II - OTHER INFORMATION

Item 6. Exhibits.

      31.1 Rule 13a-14(a)/15d-14(a) Certification

      31.2 Rule 13a-14(a)/15d-14(a) Certification

      32.1 Section 1350 Certification of Chief Executive Officer

      32.2 Section 1350 Certification of Chief Financial Officer



                                       15







                                   SIGNATURES

      In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.


Date:  November 14, 2006                   CHINAWE.COM INC.
                                           ----------------
                                           (Registrant)


                                           By: /s/ Man Keung Wai
                                               -----------------
                                           Man Keung Wai
                                           Chief Executive Officer
                                           (Principal Executive Officer)


                                           By: /s/ Vivian Chu
                                               --------------
                                           Vivian Chu
                                           Chief Financial Officer
                                           (Principal Financial Officer)


                                       16`