|6 Months Ended|
Jun. 30, 2017
|Financing Receivables [Text Block]||
5. LOAN RECEIVABLES
The following table sets forth a summary of the loan agreements in loan receivables balance:
All the transactions were aimed to meet the Company’s working capital needs in US Dollars.
Through an understanding between Ms. Wang and Merit Crown, the US Dollar Loans are “secured” by the RMB Loans. It is the understanding between the parties that when the US Dollar Loans are repaid, the RMB Loans will be repaid at the same time.
The entire disclosure for financing receivables. Examples of financing receivables include, but are not limited to, loans, trade accounts receivables, notes receivable, credit cards, and receivables relating to a lessor's right(s) to payment(s) from a lease other than an operating lease that is recognized as assets.
Reference 1: http://www.xbrl.org/2003/role/presentationRef