Trade Accounts and Bills Payable

3 Months Ended

Mar. 31, 2020

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, 2019 and March 31, 2020 consisted of the followings:

	December 31,		March 31,
	2019		2020
Trade accounts payable	$	11,157,014	$	10,801,796
Bills payable
– Bank acceptance bills		3,915,094		3,883,077
– Commercial acceptance bills		-		-
	$	15,072,108	$	14,684,873

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

The bank acceptance bills were pledged by the Company's bank deposits (Note 2)