Short-Term Bank Loans

3 Months Ended

Mar. 31, 2012

Loans Payable [Abstract]

Debt Disclosure [Text Block]

NOTE 6 – SHORT-TERM BANK LOANS

Short-term bank loan represents an amount due to a bank that is due within one year. This loan can be renewed with the bank upon maturity. At March 31, 2012 and December 31, 2011, short-term bank loans consisted of the following:

	March 31, 2012		December 31, 2011
Loan from Agricultural and Commercial Bank, due on March 30, 2012 with annual interest at December 31, 2011 of 7.88%, secured by certain assets of the Company and repaid on due date.	$	-	$	628,466
Loan from China Merchants Bank, due on May 20, 2012 with annual interest rate of 6.73% at March 31, 2012 and December 31, 2011, respectively.		474,331		471,350
Loan from Agricultural and Commercial Bank, due on October 10, 2012 with annual interest rate of 5.75% at March 31, 2012 and December 31, 2011, respectively, secured by certain assets of the Company.		474,331		471,350
Loan from Bank of Communications, due on May 14, 2012 with annual interest rate being adjusted quarterly based on 120% of People’s Bank of China’s base rate.		474,313		471,350
Loan from Bank of Communications, due on May 23, 2012 with annual interest rate being adjusted quarterly based on 120% of People’s Bank of China’s base rate.		316,221		314,233
Loan from Bank of China, due on January 16, 2013 with annual interest rate of 7.35% at March 31, 2012 and secured by certain assets of the Company.		948,661		-
Total short-term bank loans	$	2,687,875	$	2,356,749