PROPERTY AND EQUIPMENT (TABLES)

9 Months Ended

Sep. 30, 2016

PROPERTY AND EQUIPMENT (Tables)

Property and equipment consists

Property and equipment consisted of the following:

	September 30,			December 31,
	2016			2015
Permit of land use	$	422,330		$	433,956
Building		10,274,394			10,557,234
Plant, machinery and equipment		26,651,565			27,325,440
Motor vehicle		259,369			242,860
Office equipment		253,766			256,679
Total		37,861,424			38,816,169
Less: accumulated depreciation		(11,521,705	)		(9,422,912	)
Property and Equipment, net	$	26,339,719		$	29,393,257

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 - 49
Plant, machinery and equipment	5 - 10
Motor vehicle	5 - 10
Office equipment	3-5