Advance payments and others (Tables)

9 Months Ended

Sep. 30, 2017

Schedule Of Advance Payments And Others Disclosure [Table Text Block]

The Company’s advance payments and others as of September 30, 2017 and December 31, 2016 consisted of the following:

	September 30, 2017			December 31, 2016
Advance payments and others - unrelated parties	$	13,307		$	10,203
Less: allowance for doubtful accounts – unrelated parties⁽²⁾		(1,072	)		-
Advance payments and others, net – unrelated parties		12,235			10,203
Advance payments and others - related parties ⁽¹⁾		31,397			624
Total advance payments and others	$	43,632		$	10,827

(1)

On March 16, 2017, in order to generate higher returns for the Company’s idle cash, one of the Company's subsidiaries, Hubei Henglong, lent RMB 200.0 million (equivalent to $30.1 million as of September 30, 2017) to Henglong Real Estate, one of the Company's related parties, through an independent financial institution by way of an entrusted loan. The term of the loan is one year and the annual interest rate is 6.35%.

(2)

Provision for the doubtful accounts amounted to $1.1 million and nil for the nine months ended September 30, 2017 and 2016, respectively.