Exhibit 99.2

CHINA ENERGY SAVINGS TECHNOLOGY ANNOUNCES SUBSTANTIAL INCREASES IN NEW CONTRACTS
Thursday December 9, 10:30 am ET

HONG KONG, Dec. 9 /Xinhua-PRNewswire/  -- China Energy Savings Technology,  Inc.
(OTC Bulletin Board: CESV - NEWS), a leading software developer and manufacturer
of energy savings  products in the PRC,  announces today the number of contracts
it signed in recent months has increased substantially.

Shenzhen Dicken  Industrial  Development  Limited,  a subsidiary of China Energy
Savings  Technology,  has signed over 100 new contracts since the closing of the
acquisition  of 50% of energy  savings  project in China on August 25, 2004. The
subsequent  acquisition of 15% stake of the project on November 16, 2004 further
increased  the  Company's  stake in the project to 65%. The total value of these
contracts  increased  since  August 25,  2004 are worth  about $11  million,  an
increase of 108%  compared  with the same period last year.  The  management  of
China Energy Saving Technology  forecasts the net profit of the 4th quarter will
at least  double that of the same period last year,  contributing  to the profit
growth.

Mr. Ian Cheng, Chief Executive Officer of Shenzhen Dicken Industrial Development
Limited, said "these contracts  representing 50% market share are expected to be
completed  in 2nd half of 2005 and the net profit is expected to double by then.
The  shortage of  electricity  supply in China is one of main  reasons  that our
customers are buying more and more of our products. In many large Chinese cities
and  provinces,  especially  those booming  regions in Southern  China,  rolling
electricity  blackouts  have  become  common  events  during  summer  and winter
seasons.  Increasingly,  Chinese  government and businesses have begun embracing
energy  conversation  and saving.  Our products  provide one of best and easiest
solutions in the market place to save  electricity.  One thing is certain energy
demands  and energy  production  will  continue  to rise and we have  positioned
ourselves as a cost savings, environment saving energy player and we are looking
at all aspects of the energy crunch in China." On December 2, 2004,  the company
was  pleased to  announce  that it filed a listing  application  with the NASDAQ
National  Market  to move from the OTC  Bulletin  Board to the  NASDAQ  National
Market."


About China Energy Savings Technology, Inc.

The company is engaged in the  manufacturing  and sales of  advanced  technology
energy-saving  products in People's  Republic  of China.  According  to the test
reports by various PRC  authorities  including  National Center of Supervision &
Inspection on Electric Light Source Quality  (Shanghai) issued in September 2002
and Shenzhen Academy of Metrology & Quality  Inspection issued in December 2002,
the energy saving products of Shenzhen Dicken Group have the energy saving rates
ranging from  approximately 25% to 45%. The energy saving projects  conducted by
the  Company  mostly  relate to public or street  lighting  systems,  government
administration units, shopping malls, supermarkets,  restaurants,  factories and
oil  fields,  etc.  There  are  also  small  and  large-  scaled  projects:  the
small-scaled projects relate to restaurants, shops and small arcades through the
sale of equipment, and the large-scaled projects relate to large shopping malls,
supermarkets, factories and public bodies through the provision and installation
of equipment over a term usually extended for years.




Safe Harbor Statement

As a  cautionary  note to  investors,  certain  matters  discussed in this press
release  may be  forward-looking  statements  within the  meaning of the Private
Securities  Litigation  Reform  Act of 1995.  Such  matters  involve  risks  and
uncertainties that may cause actual results to differ materially,  including the
following:  changes in economic  conditions;  general competitive  factors;  the
Company's  ability to execute its business  model and strategic  plans;  and the
risks described from time to time in the Company's SEC filings.

     For more information, please contact:

     John Roskelley, President,
     First Global Media
     Tel:  +1-480-902-3110

     Website: http://www.cesv-inc.com
     Email: contactus@cesv-inc.com