NOTE 12 - LONG-TERM BANK LOAN

3 Months Ended

Mar. 31, 2012

Notes to Financial Statements

NOTE 12 - LONG-TERM BANK LOAN

NOTE 12 –LONG-TERM BANK LOAN

The Company’s short term bank loans consisted of the follows:

		March 31,		December 31,
		2012		2011
The interest rate is a variable rate equal to 1.5% per annum above the floating base interest for loans of the same term promulgated by the People’s Bank of China. The average annual interest rate for the year ended December 31, 2012 was approximately 7.65%. The loan was designated to finance the operation of the Company.	$	2,327,010	$	2,361,000
Total	$	2,327,010	$	2,361,000