I got it to compile with Code Warrior,

loaded the "rk27_baord.mcp" project file. was lots of errors, and had to recreate a missing debug.c debug.h (just used empty text files). and commented out all the error lines in the source, but now it compiles a new RK27xx firmware, produced BASE.RKW and RK27SDK.RKW without the bmps.
Was loads of warnings though, and the bmps not being loaded in, but it did compile, so we have a method of creating Rk27xx firmware, just needs a lot more work. :x
e.g. wrong path to bmps, should be "C:\RK27SDK__NEW\Resource\input\bmp\RK2701" + some chinese folder names referenced in file "rk$$27_TF0088.txt" need editing.
btw removed references to TR (for translation) and ASSERT(for debugging) in the source code, to get it to compile.
So "rk27_baord.mcp" project file is for creating a new RK27xx firmware.
Not able to compile the emulator yet, think it needs vc++ :?