PROPERTY AND EQUIPMENT, NET

6 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment Disclosure [Text Block]

NOTE 7. PROPERTY AND EQUIPMENT, NET

Property and equipment consisted of the following:

	June 30, 2013		December 31, 2013		December 31, 2013
	RMB		RMB		U.S. Dollars

Motor vehicles	¥	2,683,250	¥	2,683,250	$	439,128

Office equipment and fixtures		593,654		630,150		103,127

Total property and equipment		3,276,904		3,313,400		542,255

Less: Accumulated depreciation		(1,567,058)		(1,868,399)		(305,773)

Property and equipment, net	¥	1,709,846	¥	1,445,001	$	236,482

Depreciation expense was ¥242,778 and ¥150,973 ($24,708) for the three months ended December 31, 2012 and 2013, respectively.

Depreciation expense was ¥315,157 and ¥301,341 ($49,316) for the six months ended December 31, 2012 and 2013, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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