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25. Long Term Bank Loans
12 Months Ended
Dec. 31, 2012
Long-term Debt [Text Block]

25. LONG TERM BANK LOANS


Long term bank loans comprised the following as of December 31, 2012 and 2011:


    2012     2011  
    US$     US$  
Loan payable to a bank in PRC, bearing interest at 5.76% per annum, guaranteed by Langfang Feihe and payable on maturity. The loan commenced on December 24, 2009 and was originally due on December 24, 2014. The maturity date was changed to December 23, 2013 pursuant to a supplemental agreement     2,433,183       8,353,996  
Loan payable to a bank in PRC, bearing interest at 5.96% per annum, secured by Gannan Feihe’s machinery with a carrying amount of $5,778,788 as of December 31, 2012. The loan commenced on December 24, 2010 and was originally due on December 24, 2015 . The maturity date was changed to December 23, 2013 pursuant to a supplemental agreement     3,571,314       3,535,169  
      6,004,497       11,889,165  
Less: current portion of long term bank loans     (6,004,497 )     (5,945,439 )
            5,943,726  

Long Term Deposits and Other Long Term Loans [Member]
 
Long-term Debt [Text Block]

27. LONG TERM DEPOSITS AND OTHER LONG TERM LOANS


Other long term loans reflect loans the Company obtained to make the redemption payment for its redeemable common stock to Sequoia Capital China Growth Fund I, LP and certain of its affiliates and designees (collectively, “Sequoia”)(See Note 29) during 2011, and the first and second quarters of 2012. As the Company did not have enough US dollars to redeem the redeemable common stock, the Company entered into an agreement with a group of overseas third party companies and one third party individual to borrow a total amount of $59.2 million. The loans are interest free with an initial period of two years starting from the day when the Company received the loans. The lenders have agreed to extend the loans for a period of another two years.


In order to provide confidence for settlement of the term loans mentioned above, as well as to serve as a source of obtaining US dollars for the Company’s business needs in the year following the loans, the Company deposited a total amount of RMB492 million (approximately $79 million) with six domestic companies and one third party individual designated by the lenders. The deposits will not be returned to the Company until the Company repays the full amount of loans.