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PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2012

Property and equipment consisted of the following:

	December 31,	December 31,
	2012	2011
Permit of land use	$ 447,013	$ 442,978
Building	2,419,125	2,397,286
Plant, machinery and equipment	6,381,209	6,184,254
Motor vehicle	147,080	145,300
Office equipment	222,273	204,552
Construction in progress	3,688,567	351,571
Total	13,305,267	9,725,941
Less: accumulated depreciation	(4,273,373)	(3,391,124)
Property and Equipment, net	$ 9,031,894	$ 6,334,817

Useful lives of the assets

Depreciation is computed on a straight-line basis over the estimated useful lives of the assets as follows:

Asset		Life - years
Permit of land use		40 - 70
Building		20 - 35
Plant, machinery and equipment		10
Motor vehicle		5 - 10
Office equipment		3-5

- Definition

Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software.

+ References+ Details