Quarterly report pursuant to Section 13 or 15(d)

Notes payable

v3.7.0.1
Notes payable
6 Months Ended
Jun. 30, 2017
Notes payable [Abstract]  
Notes Payable Disclosure [Text Block]
8.
Notes payable
 
Notes payable presented to certain suppliers as a payment against the outstanding trade payables.
 
Notes payable are mainly bank acceptance bills which are non-interest bearing and generally mature within six months. The outstanding bank acceptance bills are secured by restricted cash deposited in banks. Outstanding bank acceptance bills were $41,373,724 and $30,658,000 as of June 30, 2017 and December 31, 2016, respectively.