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SHORT-TERM BANK LOAN

12 Months Ended

Jun. 30, 2015

Debt Disclosure [Abstract]

Short Term Bank Loan [Text Block]

NOTE 11. SHORT-TERM BANK LOAN

Short-term bank loans consisted of the following:

		June 30, 2014			June 30, 2015			June 30, 2015
		RMB			RMB			U.S. Dollars
Industrial and commercial bank, floating interest rate at 5.6%, paid off on December 24, 2014		¥	2,000,000		¥	-			-
Industrial and commercial bank, floating interest rate at 6.0%,  due on June 19, 2016			8,000,000			7,000,000			1,149,652
Total short-term bank loans		¥	10,000,000		¥	7,000,000		$	1,149,652

Interest expense for the short-term bank loan was ¥624,096 and ¥516,567  ($84,839) for the years ended June 30, 2014 and 2015, respectively.

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