Note 16 - Due to Noncontrolling Interest of VIE

12 Months Ended

Dec. 31, 2015

Due To Noncontrolling Interest Of VIE [Abstract]

Due To Noncontrolling Interest Of VIE [Text Block]

16. Due to noncontrolling interest of VIE

As of December 31, 2014, due to noncontrolling interest of VIE represented the outstanding balance of the short-term loan borrowed by one of the Company’s VIEs, Beijing Chuang Fu Tian Xia, from its noncontrolling interest to supplement the short-term working capital needs of Beijing Chuang Fu Tian Xia. The short-term loan is unsecured, interest free and is payable on demand.

In July 2015, as approved by the shareholders of Beijing Chuang Fu Tian Xia, the majority interest shareholder and noncontrolling interest shareholder, on a pro-rata basis, converted RMB2.04 million (approximately US$0.31 million) and RMB1.96 million (approximately US$0.30 million) of its amount due from Beijing Chuang Fu Tian Xia into the registered and paid-in capital of Beijing Chuang Fu Tian Xia, respectively. Accordingly, the registered and paid-in capital of Beijing Chuang Fu Tian Xia increased from RMB1 million (approximately US$0.15 million) to RMB5 million (approximately US$0.77 million). As of December 31, 2015, Beijing Chuang Fu Tian Xia had fully repaid the remaining outstanding amount due to its noncontrolling interest.