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Related Party Transaction | 6 Months Ended
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Jun. 30, 2021
Related Party Transactions [Abstract] |
RELATED PARTY TRANSACTION | 8. RELATED PARTY TRANSACTION As of June 30, 2021, the amounts due to the related parties were consisted of the followings:
Name |  | Amount (US$) |  |  | Relationship |  | Note
Yongke Xue |  | $ | 33,900 |  |  | President of the Company |  | Loan payable
Wei Cheng Pan |  |  | 193,495 |  |  | Legal representative of Guangchengji and Chief Strategy Officer of the Company |  | Loan payable
Shaanxi Fu Chen Venture Capital Management Co. Ltd. (“Shaanxi Fu Chen”) |  |  | 92,487 |  |  | Two outside shareholders of the Company who are also the shareholders of Shaanxi Fu Chen |  | Other payables
Zhi Yan |  |  | 243,742 |  |  | General Manager of a subsidiary of the Company |  | Accrued expenses
Jing Chen |  |  | 18,686 |  |  | Vice president of the Company |  | Accrued expenses
Shenzhen TianShunDa Equity Investment Fund Management Co., Ltd. (“TianShunDa”) |  |  | 340,552 |  |  | Shaanxi Fu Chen holds 70% interest of TianShunDa |  | Other payables
Reits (Beijing) Technology Co., Ltd |  |  | 16,602 |  |  | Zhi Yan is the legal representative of this company |  | Acquisition of intangibles upon the full completion of the online platform pursuant to an agreement originally entered between parties before Zhi Yan was the general manager of our subsidiary.
Shaanxi Chunlv Ecological Agriculture Co. Ltd. |  |  | 254,507 |  |  | Shaanxi Fu Chen Venture holds 80% interest of the company |  | Other payables
Kai Xu |  |  | 12,738 |  |  | Deputy General Manager of a subsidiary of the Company |  | Accrued expenses
Shaanxi Fuju Mining Co., Ltd |  |  | 3,252 |  |  | Shaanxi Fu Chen holds 80% interest of the company |  | Other payables
Total |  | $ | 1,209,961 |  |  |  |  |
As of June 30, 2021, the amounts due from the related parties were consisted of the followings:
Name |  | Amount (US$) |  |  | Relationship |  | Note
Shanchun Huang |  |  | 123,836 |  |  | Chief Executive Officer of the Company |  | Prepaid expenses*
Bin Wu |  |  | 200,000 |  |  | a shareholder of a subsidiary of the Company |  | Advance to pay for the incorporation costs of the establishment of the subsidiary in Dubai*
Zeyao Xue |  |  | 34,172 |  |  | Son of the President of the Company, a shareholder of the VIE of the Company and a major shareholder of the Company |  | Prepaid expenses *
Ming Yi |  |  | 5,945 |  |  | Chief Financial Officer of the Company |  | Prepaid expenses *
Yang Liu |  |  | 767 |  |  | Chief Operator Officer of the Company |  | Prepaid expenses *
Total |  | $ | 364,720 |  |  |  |  |
* | The related party transactions have been approved by the Company’s Audit Committee.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39691-107864 + Details
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