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SHORT-TERM BANK LOANS

12 Months Ended

Jun. 30, 2016

Debt Disclosure [Abstract]

Short Term Bank Loan [Text Block]

NOTE 12. SHORT-TERM BANK LOANS

Short-term bank loans consisted of the following:

		June 30, 2015			June 30, 2016			June 30, 2016
		RMB			RMB			U.S. Dollars
Industrial and Commercial Bank, floating interest rate at 6.12 %, due on June 19, 2016		¥	7,000,000		¥	-			-
Total short-term bank loans		¥	7,000,000		¥	-		$	-

Interest expense for the short-term bank loan was ¥516,567 and ¥415,676 ($62,561) for the years ended June 30, 2015 and 2016, respectively. The loan was repaid in full during the year ended June 30, 2016.

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