Trade Accounts and Bills Payable

6 Months Ended

Jun. 30, 2019

Trade Accounts and Bills Payable [Abstract]

Trade Accounts and Bills Payable

11. Trade Accounts and Bills Payable

Trade accounts and bills payable as of December 31, 2018 and June 30, 2019 consisted of the followings:

	December 31,		June 30,
	2018		2019
Trade accounts payable	$	23,134,269	$	19,230,832
Bills payable
-      Bank acceptance bills (Note 12)		28,911,556		22,824,075
-      Commercial acceptance bills		449,238		-
	$	52,495,063	$	42,054,907

All the bills payable are of trading nature and will mature within six months to one year from the issue date.

The bank acceptance bills were pledged by:

(i)	the Company's bank deposits (Note 2); and
(ii)	$6,353,342 and nil of the Company's bills receivable as of December 31, 2018 and June 30, 2019, respectively (Note 3).