|[X] | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
    SECURITIES EXCHANGE ACT OF 1934                                                                                
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|    | For the period ended December 31, 2005                                                                                                                                  
|[ ] | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
    EXCHANGE ACT OF 1934  for the transition period from
__________________ to ____________________.
|    | Commission File Number 000-25997                                                                                                                                        
|    | **China Holdings, Inc.**                                                                                                                                                
|    | (Exact Name of Small Business Issuer as specified in its Charter)                                                                                                       

|Wyoming
      (State or other Jurisdiction of
      Incorporation or Organization) | 91-1939533
      (I.R.S. Employer
      Identification Number)
|---------------------------------------------------------------------------------- | --------------------------------------------------------------
|69930 Highway 111 Suite 108
      Rancho Mirage, CA                                | 92270                                                         
|(Address of principal executive offices)                                           | (Zip Code)                                                    
|(760) 219-2776                                                                     |                                                               
|(Issuer's telephone number)                                                        |                                                               



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 been
subject to such filing requirements for the past 90 days.

Yes __X__ No ____

Indicate the number of shares outstanding of each of the
issuer'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 Outstanding
    at December 31, 2005
|No exhibits included.      |                                                      

China Holdings, Inc. (the "Company") was organized under the
  laws of the State of Nevada on April 28, 1994, under the name "Silver
  Bow Antique Aviation".  The Company was incorporated primarily to
  engage in the restoration and maintenance of antique aircraft.

The Company's articles initially authorized the Company to issue a
  total of 11,000 shares of stock, consisting of 10,000 common stock and
  1,000 shares of preferred stock, both with a par value of $.001 per
  share.

An amendment to the Articles of Incorporation of the Company on October
  7, 1998 increased its authorized shares to 100,000,000 consisting of
  99,990,000 and 10,000 preferred shares, all with a par value of $.001
  per share.

Item 2.  Description of Property.

The Company has no property as of the date of this report, (31 DEC 2005).

The Company Headquarters are located in Rancho Mirage, California and
  are furnished by Mr. Dempsey Mork, Chief Financial Officer, Director.

Item 3.  Legal Proceedings.

None.

Item 4.  Submission of matters to a vote of Security holders.

None.

Item 5.    Market for Company's Common Equity and Related Stockholder
  Matters

Market Information.   China Holdings, Inc.'s common stock is not included in the
  pink sheets or in the OTC Bulletin Board maintained by the NASD.
  China Holdings, Inc. plans to apply to the OTC Bulletin Board.

There is no public trading market for China Holdings, Inc.'s common stock and
  that there is no guarantee any trading market will develop.

Holders.

The shareholders of record of China Holdings, Inc. common stock, as of
  December 31, 2005 is 52.

Dividends.   Holders of China Holdings, Inc. common stock are entitled to receive
such dividends as may be declared by its board of directors.

PART II
  Item 6.  Management Discussion and Analysis or Plan of Operation.

China Holdings, Inc. is a “Development Stage Company” and is investigating various opportunities as a merger candidate.  Currently, the Company has entered discussions with several, small to medium-size companies that are looking for merger opportunities for listings on a U.S. Stock Agency, such as AMX, NASDAQ, OTC, BULLETIN BOARD, etc.

The Management of China Holdings, Inc. has a broad background of management expertise in
  merging Companies (such as China Holdings, Inc.) with other Companies who are seeking assistance in becoming listed on a U.S. Stock Agency.

Item 7.  Security Ownership of Certain Beneficial Owners and Management.

The following table sets forth the shareholdings of those persons or
  entities who own more than 5% of the 3,190,440 Company's common stock
  outstanding as of the date of these filings, and/or belong to management
  hereof, to wit; Percentage of Class is calculated on 3,190,400 total shares.

|Name and address                                                 |  | Number of Shares
      Beneficially Owned |  | Percentage
      of Class
|---------------------------------------------------------------- |  | ----------------------------------------- |  | -------------------------
|*Magellan Capital Corporation                                    |  | 597,600                                   |  | 16.19%                   
|*Magellan Capital Corporation
    Pension Benefit Plan and Trust |  | 900,000                                   |  | 24.39%                   
|*Magellan Capital Corporation
    Profit Sharing Plan and Trust  |  | 900,000                                   |  | 24.39%                   
|Dempsey K. Mork                                                  |  | 648,500                                   |  | 17.57%                   
|D. K. MORK TOTAL (4 SHAREHOLDERS)                                |  | *3,046,100                                |  | *82.54%                  
|KNC INVESTMENTS INC/N L LeBoeuf                                  |  | 105,800                                   |  | 2.87%                    
|Darren Holm                                                      |  | 100,000                                   |  | 2.71%                    
|TOTAL ( 6 Inside Shareholders)                                   |  | 3,251,900                                 |  | 88.12%                   
|TOTAL (45 Outside Investors)                                     |  | 438,500                                   |  | 11.88%                   
|GRAND TOTAL (52 SHAREHOLDERS)                                    |  | 3,190,400                                 |  | 100.00%                  

Mr. Randall Baker, Secretary left the Company in January 2002 and was
  replaced by Mr. Norbert LeBoeuf who assumed the duties of Secretary in
  addition to being the Controller/Director of China Holdings, Inc..

*NOTE:  Mr. Dempsey Mork is considered to be a beneficial owner
  as described by 13d-3 (a), and, (b) of regulation 13-D.  Neither the
  Pension Benefit Plan or the Profit Sharing Plan have pending or
  planned termination dates.

|Name and Address                        |  | Number of Shares
      Beneficially Owned
    As of 12/31/2005 |  | PercentageOf Class
|--------------------------------------- |  | -------------------------------------------------------------- |  | ------------------
|Dempsey K.Mork/Prior Page               |  | *3,046,100                                                     |  | *82.54%           
|KNC Investments, INC. and
    Norbert L |  | 105,800                                                        |  | 2.87%             
|Darren J. Holm                          |  | 100,000                                                        |  | 2.71%             
|                                        |  | -------------                                                  |  | -------------     
|TOTALS                                  |  | 3,251,900                                                      |  | 88.12%            
|                                        |  |                                                                |  |                   
|                                        |  |                                                                |  |                   
|                                        |  |                                                                |  |                   
|                                        |  |                                                                |  |                   
|                                        |  |                                                                |  |                   

|Name               |  | Positions Held                                                                       |  | Date of Electionor Designation |  | Date of
      Terminationor Resignation
|------------------ |  | ------------------------------------------------------------------------------------ |  | ------------------------------ |  | ---------------------------------------
|Darren J. Holm     |  | President/CEO/Director                                                               |  | 9/25/2001                      |  | -                                      
|Dempsey K. Mork    |  | Chief Financial Officer/ Director                                                    |  | 9/25/2001                      |  | -                                      
|Norbert L. LeBoeuf |  | Controller/Director
      Became Secretary due to 
      R. Baker's departure Jan 02 |  | 6/30/1996                      |  | -                                      

Mr. Darren Holm was elected President/CEO and Director of China Holdings, Inc. in September 2001. His educational background includes
  Ambulance and Emergency Care, Georgia College through 1984;  A.S. EMS Systems Management at
  Davenport University through December 1985, and A.S.
  Respiratory Care,  June 1989.   Business
  experience includes 13 years with Springs Ambulance/American Medical
  Response as Paramedic/Field Training Officer; three years as Medical
  Division Manager with Desert Airlines, (an aero-medical transport
  company); and, 3 years with Air Service International--1 year
  Medical Operations/Office Manager and 2 years as General Manager.  Mr.
  Holm will spend approximately 20 hours per week on China Holdings, Inc. business.Mr. Mork is the majority shareholder, Chief Financial Officer/Director
  of China Holdings, Inc..  He has been an officer/director of the
  Company since its formation in 1994.  For the past six years, he has
  been officer/director of Magellan Capital Corporation, Animal Cloning
  Sciences, Knickerbocker Capital, Apex Capital, Asian Financial and North Star Ventures.  Mr. Mork has experience in start-up companies,
  business reorganizations and cross border business trans-actions.  He
  will spend approximately 20 hours per month on China Holdings, Inc. business.
  
  Mr. Norbert LeBoeuf is a shareholder, officer and director of China Holdings, Inc..  He has been responsible for all accounting and
  tax functions for all Companies with which Mr. Mork has been
  affiliated.  Mr. LeBoeuf's professional career includes three years in
  the U.S. Marine Corps Legal and Administrative functions (1952-55) and
  forty years in all areas of accounting for small, medium and large
  (Fortune 500 Companies) in Electronics, Manufacturing and Aerospace.
  Significant Employees.
  The Company has no employees who are not executive officers.
Item 10.  Executive Compensation.
None.
(1)   In April 1994, 936,900 shares of "unregistered" and "restricted"
shares of the Company's Common Stock were issued (for services
rendered):*

|      |  | 597,600 |  | Magellan Capital Corporation                                    |                      | 
|----- |  | ------- |  | --------------------------------------------------------------- | -------------------- | 
|      |  | 148,500 |  | Dempsey K. Mork                                                 | (Officer/ Director)  | 
|      |  | 61,000  |  | Randall A. Baker
    Mr. Baker left the Company in January 2002 | (Officer/ Director)  | 
|      |  | 73,800  |  | Robert J. Flliatreaux                                           | (Outside Consultant) | 
|      |  | 55,800  |  | Norbert L. LeBoeuf                                              | (Officer/ Director)  | 
|Total |  | 936,500 |  |                                                                 |                      | 

*The above stated number of shares are after giving effect to a 900 for
  1 forward split of October 15, 1998.
(2) In December 2001, 200,000 shares were issued for services
  rendered through December 2001, as follows:

100,000 to Darren J. Holm, the newly elected President/CEO-
  Director, and,
  50,000 each to Randall A. Baker and Norbert L. LeBoeuf.
  Item 11.  Changes in and disagreements with Auditors on Accounting and
  Financial Disclosure.
  None.

PART F/S
  Index to Financial Statements

Financial Statements








|ASSETS                                                                                      |   | December 31,
        2005 |   | December 31,
        2004
|------------------------------------------------------------------------------------------- | - | ------------------------- | - | -------------------------
|CURRENT ASSETS: (Note 5)                                                                    |   |                           |   |                          
|Deposit Cash/New Business Oper.                                                             | $ | 0                         | $ | 0                        
|Total current assets                                                                        | $ | 0                         | $ | 0                        
|FIXED ASSETS: (Note 3)                                                                      |   |                           |   |                          
|Property/Equipment                                                                          | $ | 0                         | $ | 0                        
|Less Accumulated Depreciation                                                               | < | 0                         | $ | 0                        
|Net Fixed Assets                                                                            | $ | 0                         | $ | 0                        
|TOTAL ASSETS                                                                                | $ | 0                         | $ | 0                        
|LIABILITIES & SHAREHOLDERS' EQUITY                                                          |   |                           |   |                          
|CURRENT LIABILITIES: (Note 4)                                                               |   |                           |   |                          
|Misc. Accrued Liabilitites                                                                  | $ | 0                         | $ | 0                        
|Other Liabilities                                                                           | $ | 0                         | $ | 0                        
|Total current liabilities                                                                   | $ | 0                         | $ | 0                        
|                                                                                            |   |                           |   |                          
|LONG TERM LIABILITIES: (Note 3)                                                             | $ | 0                         | $ | 0                        
|Net Total Long Term Liabilities                                                             | $ | 0                         | $ | 0                        
|                                                                                            |   |                           |   |                          
|TOTAL LIABILITIES                                                                           | $ | 0                         | $ | 0                        
|                                                                                            |   |                           |   |                          
|SHAREHOLDERS' EQUITY (NOTES 1 & 2)                                                          |   |                           |   |                          
|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 |   | 53,190                    |   | 53,190                   
|Paid-in capital                                                                             |   | 0                         |   | 0                        
|Retained earnings <Accum deficit>                                                           |   | < 53,190 >                |   | < 53,190 >               
|TOTAL SHAREHOLDERS' EQUITY <DEFICIT>                                                        | $ | < 0 >                     | $ | < 0 >                    
|TOTAL LIABILITIES & EQUITY                                                                  | $ | 0                         | $ | 0                        

The accompanying notes are an integral part of these financial Statements

China Holdings, Inc.
    (A Development Stage Company)
    STATEMENT OF OPERATIONS
    For the Twelve
    Months/Year Ending December 31, 2005 & 2004

|                                                                        | December 31,
          2005 | December 31,
          2004
|----------------------------------------------------------------------- | --------------------------- | ---------------------------
|Misc. Income                                                            | $                           | -0-                        
|Operating Expenses:                                                     |                             |                            
|-  Interest Expense                                                     | $                           | -0-                        
|- Admin Support                                                         |                             | -0-                        
|- Depreciation (NOTE 3)                                                 |                             | -0-                        
|- Misc. Expenses                                                        |                             | -0-                        
|- New Business Development Expenses                                     |                             | -0-                        
|- Computer Services/software Systems                                    |                             | -0-                        
|TOTAL OPERATING EXPENSES                                                | $                           | -0-                        
|Income (Loss) From Operations                                           | $                           | -0-                        
|Other Income/(Expense):
          Misc. Other Income/ (Expense)         | $                           | -0-                        
|Credit/Other Income                                                     |                             | -0-                        
|TOTAL NET OTHER INCOME                                                  | $                           | -0-                        
|Net Income (Loss)                                                       | $                           | -0-                        
|Per share information:                                                  |                             |                            
|Basic (loss) per common share                                           | $                           | 0.000                      
|Basic weighted average number
        Common Stock shares outstanding   |                             | 3,190,400                  
|Diluted (loss) per common share                                         | $                           | 0.000                      
|Diluted weighted average number
        Common Stock shares outstanding |                             | 3,190,400                  

China Holdings, Inc.
    (A Development
     Stage Company)
  STATEMENT OF CASH FLOWS 
  For
  Twelve Months/Year Ending December 31, 2005 & 2004

|                                               |                                          |   | 2005 |     | 2004
|---------------------------------------------- | ---------------------------------------- | - | ---- | --- | ----
|CASH FLOWS FROM OPERATING ACTIVITIES:          |                                          |   |      |     |     
|- Income <Loss> From Operations*               | A                                        | $ | -0-  | $   | -0- 
|TRANSACTIONS NOT REQUIRING CASH:               |                                          |   |      |     |     
|- Depreciation (NOTE 3)                        |                                          | $ | -0-  | $   | -0- 
|Total transactions not requiring cash          | A                                        | $ | -0-  | $   | -0- 
|CASH PROVIDED (USED) DUE TO CHANGES IN:        |                                          |   |      |     |     
|- Current/Fixed Assets decrease/<increase>     |                                          | $ | -0-  | $   | -0- 
|- Current liabilities/(decrease)/increase      |                                          |   |      |     |     
|                                               | - Incr/Decr Operating Expenses           |   | $    | -0- | $   
|                                               | - Increase NP Bash Advances/New Business |   |      | -0- | $   
|                                               | - Incr/Decr Other Current Liabilities    |   |      | -0- | $   
|                                               | - Increase NP Misc. Items                |   |      | -0- | $   
|- Total Net Increase Current Liabilities       |                                          | $ | -0-  | $   | -0- 
|- Decrease Long Term Liability                 |                                          |   | -0-  | $   | -0- 
|Total Incr/(Decr)Current/Long Term Liabilities | A                                        | $ | -0-  |     | -0- 
|Net cash provided/(used) Operating Activities  | A                                        | $ | -0-  |     | -0- 
|Cash Flows from Investing Activities:          | A                                        |   | -0-  |     | -0- 
|Cash Flows from Financing Activities:          | A                                        |   | -0-  |     | -0- 
|Net Cash Increase(Decrease) = TOTAL OF A LINES |                                          | $ | -0-  | $   | -0- 
|Cash, Beginning of period                      |                                          |   | -0-  |     | -0- 
|Cash, End of period                            |                                          | $ | -0-  | $   | -0- 

China Holdings, Inc.
    (A Development Stage Company)
    Statement Stockholders' Equity Year Ended December 31/Inception to 2005

|                                                                                                                                                       |                                                                                    |     | PREF
        SHS |     | STOCK
        AMT |           | COMMON
        SHARES |        | STOCK
        AMT |     | PAID-IN
          CAPITAL |          | ACCUMULATED
          EARNINGS
          (LOSSES) |       | TOTAL
          NET
          (DEFICIT)
|------------------------------------------------------------------------------------------------------------------------------------------------------ | ---------------------------------------------------------------------------------- | --- | ---------------- | --- | ----------------- | --------- | --------------------- | ------ | ----------------- | --- | ------------------------- | -------- | ------------------------------------------------- | ----- | ---------------------------------------
|BALANCE AT                                                                                                                                             | $                                                                                  |     | $                |     | $                 |           | $                     |        | $                 |     | $                         |          | $                                                 |      
|                                                                                                                                                       | 12/31/94                                                                           |     | -0-              |     | -0-               |           | -0-                   |        | -0-               |     | -0-                       |          | -0-                                               |       | -0-                                    
|BALANCE AT                                                                                                                                             |                                                                                    |     |                  |     |                   |           |                       |        |                   |     |                           |          |                                                   |      
|                                                                                                                                                       | 13/31/95                                                                           |     | -0-              |     | -0-               |           | -0-                   |        | -0-               |     | -0-                       |          | -0-                                               |       | -0-                                    
|ISSUE SHARES AT                                                                                                                                        |                                                                                    |     |                  |     |                   |           |                       |        |                   |     |                           |          |                                                   |      
|                                                                                                                                                       | PAR VALUE FOR
          CONSULTING
          SERVICES                              |     | -0-              |     | -0-               |           | 936,900*              |        | 936               |     | -0-                       |          | (936)                                             |       | -0-                                    
|                                                                                                                                                      
|BALANCE AT                                                                                                                                             |                                                                                    |     |                  |     |                   |           |                       |        |                   |     |                           |          |                                                   |      
|                                                                                                                                                       | 12/31/96                                                                           |     | -0-              |     | -0-               |           | 936,900               |        | 936               |     | -0-                       |          | (936)                                             |       | -0-                                    
|BALANCE AT                                                                                                                                             |                                                                                    |     |                  |     |                   |           |                       |        |                   |     |                           |          |                                                   |      
|                                                                                                                                                       | 13/31/97                                                                           |     | -0-              |     | -0-               |           | 936,900               |        | 936               |     | -0-                       |          | (936)                                             |       | -0-                                    
|SALES OF                                                                                                                                               |                                                                                    |     |                  |     |                   |           |                       |        |                   |     |                           |          |                                                   |      
|                                                                                                                                                       | COMMON STOCK
          FOR CASH, AT
          PAR VALUE, ON
          DEC 30, 1998 |     | -0-              |     | -0-               |           | 2,053,500             |        | 2,054             |     | -0-                       |          | -0-                                               |       | 2,054                                  
|                                                                                                                                                      
|BALANCE AT                                                                                                                                             |                                                                                    |     |                  |     |                   |           |                       |        |                   |     |                           |          |                                                   |      
|                                                                                                                                                       | 12/31/98                                                                           |     | -0-              |     | -0-               |           | 2,990,400             |        | 2,990             |     | -0-                       |          | (936)                                             |       | 2,054                                  
|* AFTER 900 FOR 1 FORWARD STOCK SPLIT AUTHORIZED ON OCTOBER 15, 1998. SHARES ISSUED IN 1996 FOR SERVICES RENDERED ARE STATED AT POST SPLIT PAR VALUES.
|YR 1999 (LOSS)                                                                                                                                         |                                                                                    |     |                  |     |                   |           |                       |        |                   |     |                           | -0-      |                                                   | -0-  
|                                                                                                                                                      
|BAL 12/31/1999                                                                                                                                         |                                                                                    | -0- |                  | -0- |                   | 2,990,400 |                       | 2,990  |                   | -0- |                           | (936)    |                                                   | 2,054
|YR 2000 (LOSS)                                                                                                                                         |                                                                                    |     |                  |     |                   |           |                       |        |                   |     |                           | -0-      |                                                   | -0-  
|BAL 12/31/2000                                                                                                                                         |                                                                                    | -0- |                  | -0- |                   | 2,990,400 |                       | 2,990  |                   | -0- |                           | (936)    |                                                   | 2,054
|                                                                                                                                                       | ISSUE SHARES/
        SVCS RENDERED                                                |     |                  |     |                   |           | 200,000               |        | 200               |     | -0-                       |          | (200)                                             |       | -0-                                    
|YR 2001 YTD ADJ.                                                                                                                                       |                                                                                    |     |                  |     |                   |           |                       |        |                   |     |                           | (2,054)  | *                                                 |      
|YRS 2005-05 (LOSS)                                                                                                                                     |                                                                                    |     |                  |     |                   |           |                       |        |                   | -0- |                           | -0-      |                                                   | -0-  
|5YR Convertible
          $50K Note Payable
          Admin Support/
          $.10/share for
          500,000 shares                                 |                                                                                    |     |                  |     |                   | 500,000   |                       | 50,000 |                   | -0- |                           | (50,000) |                                                   | -0-  
|                                                                                                                                                      
|BAL 12/31/2005                                                                                                                                         |                                                                                    | -0- |                  | -0- |                   | 3,190,400 |                       | 53,190 |                   | -0- |                           | (53,190) |                                                   | -0-  
|YR 2005 (LOSS)                                                                                                                                         |                                                                                    |     |                  |     |                   |           |                       |        |                   |     |                           | -0-      |                                                   | -0-  
|BAL 12/31/2005                                                                                                                                         |                                                                                    | -0- |                  | -0- |                   | 3,190,400 |                       | 53,190 |                   | -0- |                           | (53,190) |                                                   | -0-  



China Holdings, Inc.
    (A Development Stage Company)
Notes to Financial Statements
For The Twelve Months Ended December 31, 2005

Company was organized under the laws of the State of Nevada on
        April 28, 1994 under the name of Silver Bow Antique Aviation.  The
        Company 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 of
        the end of the year December 31, 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 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 at year
        end December 31, 2004 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 issued
      At December 31, 2005 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 December 31, 2005, 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 year ending December 31, 2005,
        there were 3,190,400 shares of Common Stock issued and outstanding.  As
        of December 31, 2005, no Preferred Stock were issued or outstanding.

NOTE 3 - FIXED ASSETS:
        The Company has no Fixed Assets as of the end of the current year ending
        December 31, 2005. 
        NOTE 4 - CURRENT LIABILITIES:

Following are the Current Liabilities of the Company as of the end of the
        years December 31, 2004 and 2005 were:

|Category Description |                   | Amounts due
          12/31/2005 |   | Amounts due
            12/31/2004
|-------------------- | ----------------- | -------------------------------- | - | ----------------------------------
|                     |                   |                                  |   |                                   
|Current Liabilities  | $                 | 0                                | $ | 0                                 
|                     |                   |                                  |   |                                   
|                     | TOTAL LIABILITIES | $                                | 0 | $                                 

|31 | 302 Certification
|-- | -----------------
|32 | 906 Certification

|(B) | REPORTS ON FORM 8-K
|--- | -------------------
|    |                    

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 China Holdings, Inc..

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 year
        ending December 31, 2005, and were 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 Holm           
|--- | ----------------------
|   
|By: | Darren Holm, President

|Signature            | Capacity           | Date             
|-------------------- | ------------------ | -----------------
|/s/ Darren Holm      | President/CEO      | September 6, 2007
|Darren Holm          | Director           |                  
|                     |                    |                  
|/s/ Dempsey Mork     | CFO/Director       | September 6, 2007
|Dempsey Mork         |                    |                  
|                     |                    |                  
|/s/ Norbert Le Boeuf | Secretary/Director | September 6, 2007
|Norbert Le Boeuf     |                    |                  
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