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ADVANCES TO SUPPLIERS - THIRD PARTIES, NET | 12 Months Ended
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Dec. 31, 2015
Advance To Suppliers [Abstract] |
Advance To Suppliers [Text Block] |
6. | ADVANCES TO SUPPLIERS – THIRD PARTIES, NET
Advance to suppliers – third parties from continuing operations consist of the following:
|  | December 31, |
|  | 2015 |  | 2014 |
|  | US$ |  | US$ |
|  |  |  |  | (Restated) |
Advances to suppliers - third parties |  |  | 4,885,455 |  |  | 10,739,923 |
Less: allowance for doubtful accounts |  |  | (4,254,143) |  |  | (8,897,750) |
Total advances to suppliers - third parties |  |  | 631,312 |  |  | 1,842,173 |
Less: advances to suppliers - third parties held for discontinued operations |  |  | (33,217) |  |  | (238,607) |
Advances to suppliers - third party held for continuing operations |  |  | 598,095 |  |  | 1,603,566 |
Movement of allowance for doubtful accounts is as follows:
|  | December 31, |
|  | 2015 |  | 2014 |
|  |  | US$ |  | US$ |
|  |  |  |  | (Restated) |
Beginning balance |  |  | 8,897,750 |  |  | - |
Addition |  |  | 311,420 |  |  | 8,901,490 |
Less: write-off |  |  | (4,662,795) |  |  | - |
Exchange rate effect |  |  | (292,232) |  |  | (3,740) |
Ending balance |  |  | 4,254,143 |  |  | 8,897,750 |
Less: balance held for discontinued operations |  |  | (4,157,647) |  |  | (8,571,652) |
Ending balance held for continuing operations |  |  | 96,496 |  |  | 326,098 |
Advance to supplier – related party from continuing operations consists of the following:
|  | December 31, |
|  | 2015 |  | 2014 |
|  | US$ |  | US$ |
Advance to supplier - related party |  |  | 875,044 |  |  | 1,498,627 |
Less: allowance for doubtful accounts |  |  | - |  |  | - |
Total advance to supplier - related party |  |  | 875,044 |  |  | 1,498,627 |
Less: advance to supplier - related party held for discontinued operations |  |  | - |  |  | - |
Advance to supplier - related party held for continuing operations |  |  | 875,044 |  |  | 1,498,627 |

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