Note 8 - Loans Payable

3 Months Ended

Sep. 30, 2012

Note 8 - Loans Payable:

Note 8 - Loans Payable

NOTE 8 - LOANS PAYABLE

Loans payable consisted of the following at September 30, 2012 and December 31, 2011:

	2012	2011
Loan from Shanghai Rural Commercial Bank, Dachang Branch due on May 14, 2013 with interest rate at 30% higher than one-year base borrowing rate issued by People’s Bank of China (currently 6.56%). The loan is guaranteed by Shanghai Shanhai Group (a strategic partner of the Company), and Mr. Bian, Chairman of the Company.	1,577,038	-
	$   1,577,038	$                    -