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Defined contribution retirement plans
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6 Months Ended | ||
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Jun. 30, 2011
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| Defined contribution retirement plans |
As
stipulated by the regulations of the PRC government, companies
operating in the PRC have defined contribution retirement plans for
their employees. The PRC government is responsible for the pension
liability to these retired employees. The Group was required to
make specified contributions to the state-sponsored retirement plan
based on the basic salary cost of their staff. Each of the
employees of the PRC subsidiary and VIE is also required to
contribute certain percentage of his/her basic salary.
Contributions
to defined contribution retirement plan for the three months ended
June 30, 2011 and 2010 were $214,781 and $148,493, respectively,
while for the six months ended June 30, 2011 and 2010 amounted to
$418,064 and $296,593, respectively. These contributions
are recorded with the associated compensation as components of cost
of revenue, selling and distribution expenses, and general and
administrative expenses based upon the responsibilities of the
related employee.
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