LOANS RECEIVABLE FROM PROPERTY DEVELOPMENT PROJECTS (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Jun. 30, 2017
Jiang Huai [Member]
Short-term loan receivables
Short-term	$ 325	$ 325
Less: allowance for doubtful receivables	(325)	(325)
Short-term loan receivables, net	0	0
Jun Zhou Zhi Ye [Member]
Long-term loan receivables
Long-term	814	5,000
Less: transfer - down-payment for purchase of property	(814)	(5,000)
Long-term loan receivables, net	0	0
Yuan RMB \| Jiang Huai [Member]
Short-term loan receivables
Short-term	2,000	2,000
Less: allowance for doubtful receivables	(2,000)	(2,000)
Short-term loan receivables, net	0	0
Yuan RMB \| Jun Zhou Zhi Ye [Member]
Long-term loan receivables
Long-term	5,000	814
Less: transfer - down-payment for purchase of property	(5,000)	(814)
Long-term loan receivables, net	$ 0	$ 0

The valuation allowance as of the balance sheet date to reduce the gross amount of receivables to estimated net realizable value, which would be presented in parentheses on the face of the balance sheet.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=84173941&loc=d3e5074-111524

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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A deposit made by a purchaser of real estate to evidence good faith. It is customary for a buyer to give the seller earnest money at the time a sales contract is signed. The earnest money generally is credited to the down payment at closing, which is applied at closing as a component of payment against the purchase price.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef
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