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Trade Accounts and Bills Payable
 9 Months Ended
Sep. 30, 2018
Trade Accounts and Bills Payable [Text Block]
11.

Trade Accounts and Bills Payable

Trade accounts and bills payable as of December 31, 2017 and September 30, 2018 consisted of the followings:

    December 31,     September 30,  
    2017     2018  
Trade accounts payable $ 29,805,350   $ 26,684,247  
Bills payable            
-      Bank acceptance bills (Note 12)   34,025,080     33,427,220  
-      Commercial acceptance bills   1,786,113     1,073,255  
  $ 65,616,543   $ 61,184,722  

All the bills payable are of trading nature and will mature within six months to one year from the issue date.

The bank acceptance bills were pledged by:

  (i)

the Company’s bank deposits (Note 2);and
     
  (ii)

$19,047,471 and $9,427,448 of the Company’s bills receivable as of December 31, 2017 and September 30, 2018, respectively (Note 3).