NOTE 12 - LAND USE RIGHTS

Land use rights consisted of the following:


	June 30,		December 31,		December 31,
	2019		2019		2019
	RMB		RMB		U.S. Dollars
Land use rights	¥	1,361,969	¥	1,361,969	$	195,460
Less: accumulated amortization		(54,082)		(67,702)		(9,716)
Land use rights, net	¥	1,307,887	¥	1,294,267	$	185,744

As of June 30, 2019 and December 31, 2019, no land use rights are collateralized or pledged.

Amortization expenses were ¥13,620 and ¥13,620 ($1,955) for the six months ended December 31, 2018 and 2019, respectively.

The estimated future amortization expenses are as follows:


Twelve months ending December 31,	RMB		U.S. Dollars
2020	¥	27,239	$	3,909
2021		27,239		3,909
2022		27,239		3,909
2023		27,239		3,909
2024		27,239		3,909
Thereafter		1,158,072		166,199
Total	¥	1,294,267	$	185,744