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7. Prepayments and other current assets (Details) In Thousands, unless otherwise specified | Dec. 31, 2012 USD ($) | Dec. 31, 2011 USD ($) | Dec. 31, 2012 ZHEJIANG CNY | Dec. 31, 2011 ZHEJIANG CNY
--- | --- | --- | --- | ---
Contracts costs incurred plus estimated earnings | $ 3,785 | $ 8,604 | 198,706 | 117,105
Less: Progress billings | (3,684) | (8,098) | (98,957) | (53,574)
Cost and estimated earnings in excess of billings | $ 101 | $ 506 | 99,749 | 63,531

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