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Right-of-use assets
 6 Months Ended
Jun. 30, 2020
Right-of-use assets [Abstract]  
Right-of-use assets
9. Right-of-use assets

 

Right-of-use assets as of June 30, 2020 consisted of the following:

 

   Prepaid land lease payments 
Balance as of January 1, 2020  $7,194,195 
Amortization charge for the period   (79,881)
Foreign exchange adjustment   (103,601)
Balance as of June 30, 2020  $7,010,713 

 

Lump sum payments were made upfront to acquire the leased land from the owners with lease period for 50 years up to August 9, 2064, and no ongoing payments will be made under the terms of these land leases.