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Property, Plant and Equipment | 12 Months Ended
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Dec. 31, 2019
Property, Plant and Equipment [Abstract] |
Property, Plant and Equipment | 8. PROPERTY, PLANT AND EQUIPMENT As of December 31, 2019 and 2018, property, plant and equipment consist of:
|  | December 31, |
|  | 2019 |  |  | 2018 |
Office buildings |  | $ | 4,822,303 |  |  | $ | 4,833,162 |
Electronic equipment, furniture and fixtures |  |  | 5,029,249 |  |  |  | 4,385,548 |
Motor vehicles |  |  | 242,265 |  |  |  | 225,101 |
Purchased software |  |  | 15,538,161 |  |  |  | 13,321,814 |
|  |  | 25,631,978 |  |  |  | 22,765,625 |
Less: accumulated depreciation |  |  | (13,796,462 | ) |  |  | (11,166,209 | )
Property, plant and equipment, net |  | $ | 11,835,516 |  |  | $ | 11,599,416 |
Depreciation expense for the year ended December 31, 2019, 2018, and 2017 were approximately $2.8 million, $2.9 million and $2.0 million, respectively. Company’s office buildings, with net carry value of approximately $2.9 million, are used as collateral for its short-term bank loan.

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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