China Finance, Inc.- (40-17F1)
30 Setembro 2008 - 12:04PM
Edgar (US Regulatory)
UNITED
STATES
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SECURITIES
AND EXCHANGE COMMISSION
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Washington,
D.C. 20549
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FORM N-17f-l
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OMB
APPROVAL
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Certificate
of Accounting of Securities and Similar
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OMB
Number:
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3235-0359
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Investments
of a Management Investment Company
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Expires:
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June 30,
2009
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in
the Custody of Members of
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Estimated
average burden
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National
Securities Exchanges
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hours
per response..............2.00
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Pursuant
to Rule 17f-l [17 CFR 270.17f-l]
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1.
Investment Company Act File Number:
811–22081
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Date
examination completed:
9/18/08
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2.
State identification Number:
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AL
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AK
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AZ
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AR
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CA
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CO
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CT
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DE
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DC
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FL
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GA
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HI
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ID
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IL
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IN
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IA
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KS
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KY
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LA
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ME
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MD
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MA
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MI
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MN
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MS
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MO
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MT
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NE
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NV
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NH
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NJ
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NM
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NY
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NC
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ND
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OH
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OK
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OR
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PA
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RI
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SC
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SD
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TN
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TX
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UT 4738167-0142
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VT
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VA
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WA
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WV
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WI
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WY
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PUERTO
RICO
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Other
(specify):
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3.
Exact name of investment company as specified in registration
statement: CHINA FINANCE, INC.
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4.
Address of principal executive office (number, street, city, state,
zip code): 1330 Ave of the Americas, 21st floor, New York, NY
10019
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This
Form must be completed by investment companies that place or maintain
securities or similar investments in the custody of a company that is a member
of a national securities exchange.
1.
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All
items must be completed by the investment
company.
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2.
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Give
this Form to the independent public accountant who in compliance with
Rule 17f-1 under the Act and applicable state law, examines
securities and similar investments in the custody of a company that is a
member of a national securities
exchange.
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3.
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Submit
this Form to the Securities and Exchange Commission and appropriate
state securities administrators when filing the certificate of accounting
required by Rule 17f-1 under the Act and applicable state law. File
the original and one copy with the Securities and Exchange Commission’s
principal office in Washington, D.C., one copy with the regional office
for the region in which the investment company’s principal business
operations are conducted, and one copy with the appropriate state
administrator(s), if
applicable.
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THIS
FORM MUST BE GIVEN TO YOUR INDEPENDENT PUBLIC ACCOUNTANT
SEC 2205
(11-03)
SEC’s
Collection of Information
An agency
may not conduct or sponsor, and a person is not required to respond to, a
collection of information unless it displays a currently valid OMB control
number. Filing of Form N-17f-1 is mandatory for an investment company that
maintains securities or similar investments in the custody of a member of a
National Securities Exchange. Rule 17f-1 under section 17(f) of the Investment
Company Act of 1940 requires the investment company to retain an independent
public accountant to verify the company’s securities and similar investments by
actual examination three times during each fiscal year. The accountant must
prepare a certificate stating that the examination has occurred and describing
the examination, and must transmit the certificate to the Commission with Form
N-17f-1 as a cover sheet. The Commission uses the Form to ensure that the
certificate is properly attributed to the investment company. The Commission
estimates that the burden of completing Form N-17f-1 is approximately 0.16 hours
per filing. Any member of the public may direct to the Commission any comments
concerning the accuracy of the burden estimate of this Form, and any suggestions
for reducing the burden of the Form. This collection of information has been
reviewed by the Office of Management and Budget in accordance with the clearance
requirements of 44 U.S.C. § 3507. Responses to this collection of information
will not be kept confidential.
China
Finance Inc.
Management
Statement Regarding Compliance with Certain Provisions of the Investment Company
Act of 1940
We, as
members of management of China Finance, Inc. (the “Company”), are responsible
for complying with the requirements of subsection (b) of Rule 17f-1 “Custody of
Securities with Members of National Securities Exchanges” of the Investment
Company Act of 1940. We are also responsible for establishing and
maintaining effective internal controls over compliance with those
requirements. We have performed an evaluation of the Company’s compliance
with the requirements of subsection (b)(1) and (b)(6) of Rule 17f-1 as
of April 30, 2008 and from January 1, 2008 through June 30,
2008.
Based on
this evaluation, we assert that the Company was in compliance with the
requirements of subsections (b)(1) and (b)(6) of Rule 17f-1 of the Investment
Company Act of 1940 as of June 30, 2008 and from January 1, 2008 through June
30, 2008 with respect to securities reflected in the investment account of the
Company.
China
Finance, Inc.
/s/
Ann
Yu
Title:
Chief Executive
Officer
Rotenberg & Co. LLP
Certified Public
Accountants
585.295.2400
s
585.295.2150
(fax)
1870 Winton Road South
s
Rochester, NY
14618
s
www.rotenbergllp.com
REPORT OF
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
To the
Board of Directors of China Finance, Inc.
We have examined management's
assertion, included in the accompanying Management Statement Regarding
Compliance with Certain Provisions of the Investment Company Act of 1940 (“the
Act”), that China Finance, Inc. (“the Company”) complied with the requirements
of subsections (b)(1) and (b)(6) of Rule 17f-1 of the Act as of June 30,
2008. Management is responsible for the Company’s compliance with
those requirements. Our responsibility is to express an opinion on
management's assertion about the Company’s compliance based on our
examination.
Our examination was made in accordance
with the standards of the Public Company Accounting Oversight Board (United
States) and, accordingly, included examining, on a test basis, evidence about
the Company’s compliance with those requirements and performing such other
procedures as we considered necessary in the circumstances. Included
among our procedures were the following tests performed as of June 30, 2008, and
with respect to agreement of security purchases and sales, for the period from
January 1, 2008 through June 30, 2008:
·
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Confirmation
of all securities held by institutions (Smith Barney) in book entry
form.
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·
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Reconciliation
of all such securities to the books and records of the Company and the
Custodian.
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We
believe that our examination provides a reasonable basis for our
opinion. Our examination does not provide a legal determination on
the Company’s compliance with specific requirements.
In our opinion, management's assertion
that China Finance, Inc. complied with the requirements of subsections (b)(1)
and (b)(6) of Rule 17f-1 of the Act as of June 30, 2008, with respect to
securities reflected in the investment account of the Company is fairly stated,
in all material respects.
This report is intended solely for the
information and use of management and the Board of Directors of China Finance,
Inc. and the Securities and Exchange Commission and is not intended to be and
should not be used by anyone other than these specified parties.
/s/
Rotenberg & Co., LLP
Rotenberg & Co.,
LLP
Rochester,
New York
September
18, 2008
New
York
s
Penn
Yan
s
Rochester
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