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SHORT-TERM BANK LOAN

3 Months Ended

Sep. 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, 2015			September 30, 2015			September 30, 2015
		RMB			RMB			U.S. Dollars
Industrial and Commercial Bank, floating interest rate at 6.0%, due on June 19, 2016			7,000,000			7,000,000			1,101,703
Total short-term bank loans		¥	7,000,000		¥	7,000,000		$	1,101,703

Interest expense for the short-term bank loan was ¥157,511 and ¥108,407 ($17,062) for the three months ended September 30, 2014 and 2015, respectively.

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