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Trade Accounts and Bills Payable
 3 Months Ended
Mar. 31, 2019
Trade Accounts and Bills Payable [Abstract]  
Trade Accounts and Bills Payable
11.Trade Accounts and Bills Payable

 

Trade accounts and bills payable as of December 31, 2018 and March 31, 2019 consisted of the followings:

 

   December 31,   March 31, 
   2018   2019 
Trade accounts payable  $23,134,269   $21,709,607 
Bills payable          
– Bank acceptance bills (Note 1)   28,911,556    23,563,822 
– Commercial acceptance bills   449,238    - 
　  $52,495,063   $45,273,429 

 

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) $6,353,342 and $229,017 of the Company’s bills receivable as of December 31, 2018 and March 31, 2019, respectively (Note 3).