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Property and Equipment, Net | 12 Months Ended
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Dec. 31, 2020
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT, NET |
6. | PROPERTY AND EQUIPMENT, NET
Property and equipment, net consist of the following:
|  | December 31, 2020 |  |  | December 31, 2019 |
Building |  | $ | 1,828,092 |  |  | $ | - |
Office equipment |  |  | 449,246 |  |  |  | 392,010 |
Vehicle |  |  | 34,351 |  |  |  | 32,233 |
Less: accumulated depreciation |  |  | (313,928 | ) |  |  | (119,976 | )
|  |  | 1,997,761 |  |  |  | 304,267 |
Construction in progress |  |  | - |  |  |  | 1,585,706 |
|  | $ | 1,997,761 |  |  | $ | 1,889,973 |
As of December 31, 2019, the construction in progress primarily consisted of the construction in progress of an office campus and facilities in Beijing on leased land (Note 7). The construction was completed in January 2020. As of December 31, 2020, the balance of property was comprised of office campus and facilities in Beijing of $1,828,092. Depreciation expenses totaled $176,111, $75,021 and $23,655 for the years ended December 31, 2020, 2019 and 2018, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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