CREGRegain Compliance with NASDAQ Minimum Bid Price Rule

XI'AN,China,March 17,2015 -- China Recycling Energy Corp. (NASDAQ: CREG or "the Company"), a leading industrialwaste-to-energy solution provider inChina,today announced that on March 16, 2015, it received a letter from NASDAQ notifyingthe Company that it has regained compliance with the US$1.00 per share minimumclosing bid price requirement for continued listing on the NASDAQ GlobalMarket, pursuant to the NASDAQ marketplace rules.

On January 28, 2015, NASDAQnotified the Company that its common stock failed to maintain a minimum bidprice of US$1.00 over the previous 30 consecutive business days as required bythe Listing Rules of The Nasdaq Stock Market. Since then, NASDAQ has determinedthat for the last 10 consecutive business days, from March 2 to March 13, 2015,the closing bid price of the Company’s common stock has been at US$1.00 pershare or greater. Accordingly, the Company has regained compliance with ListingRule 5450(a)(1) and this matter is now closed.

AboutChinaRecycling Energy Corp.

China Recycling EnergyCorp. (NASDAQ: CREG or "the Company") is based in Xi'an,Chinaand providesenvironmentally friendly waste-to-energy technologies to recycle industrialbyproducts for steel mills, cement factories and coke plants inChina.Byproducts include heat, steam, pressure, and exhaust to generate large amountsof lower-cost electricity and reduce the need for outside electrical sources.The Chinese government has adopted policies to encourage the use of recyclingtechnologies to optimize resource allocation and reduce pollution. Currently,recycled energy represents only an estimated 1 percent of total energyconsumption and this renewable energy resource is viewed as a growth market dueto intensified environmental concerns and rising energy costs as the Chineseeconomy continues to expand. The management and engineering teams have over 20years of experience in industrial energy recovery inChina. For more information aboutCREG, please visit http://www.creg-cn.com.

Safe Harbor Statement

This press release may contain certain "forward-lookingstatements" relating to the business of China Recycling Energy Corp. andits subsidiary companies. All statements, other than statements of historicalfact included herein are "forward-looking statements." Theseforward-looking statements are often identified by the use of forward-lookingterminology such as "believes," "expects" or similarexpressions, involve known and unknown risks and uncertainties. Although theCompany believes that the expectations reflected in these forward-lookingstatements are reasonable, they do involve assumptions, risks anduncertainties, and these expectations may prove to be incorrect. Investorsshould not place undue reliance on these forward-looking statements, whichspeak only as of the date of this press release. The Company's actual resultscould differ materially from those anticipated in these forward-lookingstatements as a result of a variety of factors, including those discussed inthe Company's periodic reports that are filed with the Securities and ExchangeCommission and available on its website at http://www.sec.gov.All forward-looking statements attributable to the Company or persons acting onits behalf are expressly qualified in their entirety by these factors. Otherthan as required under the securities laws, the Company does not assume a dutyto update these forward-looking statements.

For more information, pleasecontact:

Mr. David Chong, ChiefFinancial Officer
ChinaRecycling Energy Corp.
Tel: +86-137-01813139; +65-9721 6163

Email: chongscd@creg-cn.com

Christensen

Ms. Xiaoyan Su (China)

Vice President

Tel: +86-10-5900 3429

Email: xsu@christensenir.com

Mr. Christian Arnell (China)

Vice President

Phone: +86-10-5900 1548

E-mail: carnell@christensenir.com