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7. ACCOUNTS PAYABLE AND ACCRUED EXPENSE (Tables)

12 Months Ended

Dec. 31, 2012

Payables and Accruals [Abstract]

Accounts payable and accrued expenses

		As of December 31,
		2012				2011
Accounts payable		$	3,797,552			$	3,645,804
Salary payable			190,926				132,454
Social security insurance contribution payable			52,399				39,129
Amount due to a contractor			-				1,422,042
Price adjustment funds			1,758,828				1,031,685
Other payables			733,531				1,102,529
Total		$	6,533,236			$	7,373,643

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- Definition

Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses.

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