SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Expected Useful Lives

Depreciation is calculated on the straight-line basis over the following expected useful lives from the date on which they become fully operational and after taking into account their estimated residual values:

	Expected useful lives	Residual value
Building	30-50 years	5%
Plant and machinery	10 – 20 years	5%
Furniture, fixture and equipment	5 – 8 years	5%

Exchange Rates

Translation of amounts from RMB into US$ has been made at the following exchange rates for the respective year:

	2016		2015
Year-end RMB:US$1 exchange rate		6.9437		6.4907
Annual average RMB:US$1 exchange rate		6.6430		6.2175