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Trade Accounts and Bills Payable
 12 Months Ended
Dec. 31, 2018
Trade Accounts and Bills Payable [Abstract]  
Trade Accounts and Bills Payable
12.Trade Accounts and Bills Payable

 

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

 

   December 31,   December 31, 
   2017    2018 
Trade accounts payable  $29,805,350   $23,134,269 
Bills payable          
– Bank acceptance bills   　34,025,080    28,911,556 
– Commercial acceptance bills   　1,786,113    449,238 
　  $65,616,543   $52,495,063 

 

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 3); and

 

(ii)$19,047,471 and $6,353,342 of the Company's bills receivable as of December 31, 2017 and 2018, respectively (Note 4).