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DEPOSITS PAID FOR LAND AUCTIONS
3 Months Ended
Jun. 30, 2012
Deposits Paid For Land Auctions [Abstract]  
Deposit Paid For Land Auctions Disclosure [Text Block]
7. DEPOSITS PAID FOR LAND AUCTIONS

 

As of March 31, 2012, the Company paid US$31,262,000 deposits to the government of Jiangsu Province, the PRC to tender for the auctions of two pieces of land. During the three months ended June 30, 2012, the Company had successfully acquired the lands. As of June 30, 2012, the outstanding balance of deposits was US$12,413,000, which will be refunded by the government in near future.