Due from related parties, net

	As of December 31,
	2018			2017
	US$(’000)			US$(’000)

Beijing Saimeiwei Food Equipment Technology Co., Ltd.		-			33
Chuangshi Meiwei (Beijing) International Investment Management Co., Ltd.		-			156
Guohua Shiji (Beijing) Communication Co., Ltd.		201			184
ChinaNet Chuang Tou (Shenzhen) Co., Ltd.		-			14
An officer of the Company		200			-
		401			387
Allowance for doubtful accounts		(175	)		(373	)
Due from related parties, net		226			14

Related parties of the Company represented the Company’s direct or indirect unconsolidated investee companies as well as an officer of the Company.

As of

December 31, 2018,

due from related parties included a short-term working capital loan of

RMB1.38

million (approximately

US$0.20

million) to Guohua Shiji (Beijing) Communication Co., Ltd. (“Guohua Shiji”), of which

RMB0.18

million (approximately

US$0.03

million) was subsequently collected in the

first

fiscal quarter of

2019,

and a

US$0.20

million fund advanced to

one

of the Company’s officers, which is discussed in a separate paragraph below.

As of

December 31, 2017,

due from related parties included short-term working capital loans of

RMB1.0

million (approximately

US$0.15

million) and

RMB1.2

million (approximately

US$0.18

million) to Chuangshi Meiwei (Beijing) International Investment Management Co., Ltd. (“Chuangshi Meiwei”) and Guohua Shiji, respectively. The working capital loans are advanced to supplement the short-term operational needs of these related parties to assist certain of their business developing projects. The working capital loans are non-interest bearing and needs to be repaid to the Company within

one

year. Based on the assessment of the collectability, the Company had provided full allowance for doubtful accounts to against these loans as of

December 31, 2017.

As discussed in Note

above, the amount and the related allowance related to the short-term loan lent to Chuangshi Meiwei were transferred to other receivables account as the Company disposed its investment in the entity during

2018.

For the year ended

December 31, 2018,

the Company reversed approximately

US$0.04

million allowance for doubtful accounts against the Company’s balances due from related parties, because of subsequent collection of service fee receivables. For the year ended

December 31, 2017,

an approximately

US$0.21

million allowance for doubtful accounts was provided, primarily to against the Company’s loan to Guohua Shiji.

Due from an officer of the Company as of

December 31, 2018

represented a

US$0.20

million fund advanced to

one

of the Company’s officers during the

third

fiscal quarter of

2018

for the purpose of setting up and providing finance to a proposed business entity in Taiwan. The Company intends to set up and expand its business in Taiwan through establishing the VIE arrangements with this Taiwan entity. This Taiwan entity was incorporated in

September 2017

and is wholly-owned by the officer referred above, as of

December 31, 2018,

this entity has

fund and business activities. Based on the fact that there are still legal obstacles to establish the VIE agreements between an entity that is ultimately controlled by the PRC citizens with an entity duly organized under the law of Taiwan, the Company terminated the plan, and the

US$0.2

million fund advanced was fully returned to the Company subsequently in

April 2019.