RESTRICTED NET ASSETS (Tables)

12 Months Ended

Jun. 30, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Balance Sheet [Table Text Block]

Condensed Balance Sheets	As of June 30,
	2014		2013
ASSETS
Current Assets:
Cash and cash equivalents	$	117,939	$	62,299
Other current assets		1,908		1,908
Total Current Assets		119,847		64,207
Long-term equity investment		335,598,200		299,923,857
Total long term assets		335,598,200		299,923,857
Total Assets	$	335,718,047	$	299,988,064
LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
Accounts payable	$	214,520	$	394,520
Amount due to related parties		588,343		138,343
Other payables and accrued expenses		2,875,392		2,601,909
Total Current Liabilities		3,678,255		3,134,772
Stockholders' Equities
Common stock, $.001 par value, 115,197,165 shares authorized, 32,362,534 and 29,943,236, shares issued and outstanding as of June 30, 2014 and 2013, respectively		32,362		29,943
Additional paid in capital		114,605,214		105,962,909
Accumulated other comprehensive income		22,840,491		21,813,410
Retained earnings		194,561,725		169,047,030
Total Stockholders' Equity		332,039,792		296,853,292
Total Liabilities and Stockholders' Equity	$	335,718,047	$	299,988,064

Condensed Income Statement [Table Text Block]

Condensed Statements of Operations	Year ended June 30,
	2014		2013		2012
Revenue	$	-	$	-	$	-
General and administrative expenses		9,132,587		3,941,195		5,707,065
Interest income (expense)		20		142		347
Equity investment in subsidiaries		34,647,262		48,715,101		47,664,543
Net income	$	25,514,695	$	44,774,048	$	41,957,825

Condensed Cash Flow Statement [Table Text Block]

Condensed Statements of Cash Flows	Year Ended June 30,
	2014		2013		2012
Net cash provided by (used in) operating activities	$	55,640	$	(215,239)	$	(1,286,612)
Net cash provided by (used in) investing activities		0		0		0
Net cash provided by financing activities		0		0		600,001
Cash and cash equivalents, beginning balance		62,299		277,538		964,149
Cash and cash equivalents, ending balance	$	117,939	$	62,299	$	277,538