Other Payables And Accrued Expenses

3 Months Ended

Jun. 30, 2011

Other Payables And Accrued Expenses [Text Block]

11. Other payables and accrued expenses

		June 30,		December 31,
		2011		2010
		(Unaudited)
Accrued audit fee	$	16,157	$	71,840
Receipt in advance from customers		5,073,980		7,896,814
Pension payable		741,794		546,436
Salaries payable		465,770		283,300
Other payables and accrued expenses		5,131,695		4,566,281
	$	11,429,396	$	13,364,671

Pension payable represents accrued staff medical, industry injury claims, labor and unemployment insurances, all of which are third parties insurance and the insurance premiums are based on certain percentage of salaries. The obligations of the Company are limited to those premiums contributed by the Company.

Included in other payables as of June 30, 2011 and December 31, 2010 was an amount of $2,288,013 and $2,243,561 respectively, representing governmental financial support received for the Company’s efficient heat exchange equipment manufacture project (the “Project”). The Project will be subject to the government’s inspection and whether the government support is repayable or not is subject to the inspection results.