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SHORT-TERM BANK LOANS (Tables)
 6 Months Ended
Jun. 30, 2013
Debt Disclosure [Abstract]  
SCHEDULE OF SHORT-TERM BANK LOANS
The Company’s bank loans as of June 30, 2013 and December 31, 2012 consisted of the following:
 
 
 
Maturity
 
Annual
 
 
June 30,
 
 
 
Loans
 
date
 
interest rate
 
 
2013
 
December 31, 2012
 
 
 
 
 
 
 
 
 
 
USD
 
USD
 
Short-term bank loan, unsecured
 
 
August 1, 2013
 
 
6.00
%
 
 
-
 
 
3,174,000
 
Short-term bank loan, unsecured
 
 
September 3, 2013
 
 
6.00
%
 
 
-
 
 
3,174,000
 
Short-term bank loan, unsecured
 
 
September 3, 2013
 
 
6.00
%
 
 
-
 
 
1,587,000
 
Short-term bank loan, unsecured
 
 
May 12, 2014
 
 
6.00
%
 
 
4,860,000
 
 
-
 
Total
 
 
 
 
 
 
 
 
 
4,860,000
 
 
7,935,000