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Trade Accounts and Bills Payable
 9 Months Ended
Sep. 30, 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 September 30, 2019 consisted of the followings:

 

   December 31,   September 30, 
   2018   2019 
Trade accounts payable  $23,134,269   $24,946,847 
Bills payable          
-      Bank acceptance bills (Notes 1 and 12)   28,911,556    13,921,571 
-      Commercial acceptance bills   449,238    - 
   $52,495,063   $38,868,418 

 

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 nil of the Company's bills receivable as of December 31, 2018 and September 30, 2019, respectively (Note 3).