EXHIBIT 99.1

                                 PRESS RELEASE
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FOR FURTHER INFORMATION:

QIAO XING UNIVERSAL TELEPHONE                 INVESTOR RELATIONS INTERNATIONAL
Qiao Xing Technology Industrial Zone          15477 Ventura Boulevard
Tangquan, Huizhou City                        Suite 202
Guangdong, PRC                                Los Angeles, CA 91403

Contact:     Keneath Chen                     Contact:     Haris Tajyar
             Corporate Finance Dept.                       Managing Partner
             (011) 86-752-2820268                          (818) 981-5300
             qxxiao@pub.huizhou.gd.cn                      htajyar@irintl.com

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FOR IMMEDIATE RELEASE
MARCH 26, 2002

                       QIAO XING UNIVERSAL TELEPHONE INC.
                        ANNOUNCES MAJOR ACQUISITION PLAN

           QIAO XING PLANS TO ACQUIRE CEC TELECOM. LTD., A STATE-OWNED
                  LICENSED GSM & CDMA MOBILE PHONE MANUFACTURER

GUANGDONG, CHINA AND LOS ANGELES, CALIFORNIA, March 26, 2002 - Qiao Xing
Universal Telephone (Nasdaq/NMS: XING), the second largest telephone
manufacturer in China, today announced that it plans to acquire the majority
shareholding in CEC Telecom Ltd. (CECT) (www.cectelecom.com). This plan is
currently in the auditing stage.

Under the proposed terms of the acquisition, Qiao Xing will purchase 65% of the
outstanding share capital of CECT for Rmb300 million (US$35 million), which will
be primarily financed by internally generated funds, shareholder's advances and
bank financing.

CECT is a subsidiary of China Electronics Corporation (CEC). It owns
manufacturing licenses for both CDMA & GSM mobile phones in China. CEC is the
largest State-owned electronics and information industry group company. CEC's
mobile communications related subsidiaries include CECT, CECW (CEC Wireless R&D
Ltd.) and Shen Zhen SED. According to the latest figures, there are 19 companies
in China with CDMA mobile phone manufacturing licenses. Only 9 companies own
both CDMA & GSM licenses. CECT is a State-owned high technology corporation,
with registered capital of RMB $300 million. It has considerable resources,
including a high quality management team, extensive R&D, and a strong sales and
marketing team.


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Qiao Xing Universal Telephone
Page 2 of 2


According to Mr. Su, Zhen Ming, Director of CEC and Senior Vice President of
CEC, CEC was approved and established by the State Council in 1989. It is under
the jurisdiction of the State Central Enterprises Working Committee. It was
organized as a multi-region, multi-industry state-owned enterprise in the
Information Industry. Its registered capital is RMB$6.15 billion with total
assets valued at over RMB$31.8 billion. CEC's R&D capability was significantly
improved following its acquisition of Philips' mobile phone R&D center in France
in October 2001. CECT is fully adopting the R&D results of CEC. This will equip
CECT mobile phones with the most advanced technologies and core competence to
ensure its leading position in the competitive mobile phone market.

Mr. Jie Shi, Acting Chief Financial Officer of Qiao Xing said, "The acquisition
will not increase the debt service ratio and gearing ratio of Qiao Xing. We do
not anticipate any major additional need for working capital in the CECT
operation as there is cash reserve of over US$24 million."

"China is one of the world's largest markets of telecommunication products. The
growth rate for mobile phone users in the last five years is about 30% per
annum. It is forecasted that the market size is about 40 million mobile phones
per annum for the coming three years. CECT has already introduced four models of
mobile phones in market and is in the process of developing four new models in
the coming six months. We expect to sell 800,000 to 1,000,000 mobile phones this
year," said Mr. Rui Lin Wu, Chairman of Qiao Xing Universal Telephone, Inc.,
"and it is anticipated that it will bring additional revenue of about US$200
million to US$250 million for this fiscal year. We are targeting a 30% gross
profit margin." The attraction of the Qiao Xing and CEC integration is that it
will leverage both companies' expertise as well as maximizing the utilization of
their resources.

ABOUT QIAO XING UNIVERSAL TELEPHONE

In August 1995, Qiao Xing Universal Telephone, Inc. became the first telephone
manufacturer in China to receive the ISO 9001 Quality System Accreditation
award. The Company currently produces 165 models of corded telephones and 25
cordless models. Its sales network is extensive with 1,350 retail store
locations throughout China. Qiao Xing is currently the second largest telephone
manufacturer in China.

This press release contains "forward-looking statements" regarding future
business opportunities and activities. Such forward-looking information involves
risks and uncertainties include, but are not limited to, those relating to
economic, political, legal and social conditions in the People's Republic of
China, dependence upon key management personnel, competition, material factors
relating to the operations of the business, and domestic and global economic
conditions.

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