13. SHORT TERM BANK LOANS (Tables)

3 Months Ended

Mar. 31, 2013

Short-Term Debt [Abstract]

Schedule of short term bank loans

	March 31,		December 31,
	2013		2012
	US$		US$
Loan payable, bearing interest at 5.6% per annum, secured by Feihe Dairy’s restricted cash of $6.5 million as of December 31, 2012, due and repaid on January 30, 2013		—		6,099,322
Loan payable, bearing interest at 6.94% per annum, secured by Feihe Soybean’s land use rights and buildings with a total carrying amount of $1,440,665 as of December 31, 2012, and an undertaking from Feihe Dairy to maintain debt-asset ratio of not more than 70%, current ratio of at least 100% and quick ratio of at least 50%, repaid on March 31, 2013		—		1,926,102
Loan payable, bearing interest at 6.94% per annum, and an undertaking to maintain debt-asset ratio of not more than 70%, current ratio of at least 100% and quick ratio of at least 50%, payable on July 1, 2013		1,932,149		1,926,102
Loan payable, bearing interest at 6.00% per annum, secured by Gannan Feihe’s machinery with a carrying amount of $19,971,107 as of March 31, 2013, payable on July 9, 2013 (ii)		8,050,622		8,025,425
Loan payable, bearing interest at 6.30% per annum, guaranteed by Feihe Dairy, payable on August 29, 2013		3,220,249		3,210,170
Loan payable, bearing interest at 6.30% per annum, guaranteed by Feihe Dairy, payable on September 19, 2013		1,610,124		1,605,084
Loan payable, bearing interest at 6% per annum, secured by Feihe Dairy’s plant and land use rights with a total carrying amount of $15,740,600 as of March 31, 2013, payable on November 18, 2013 (i)		8,050,622		8,025,425
Loan payable, bearing interest at 6% per annum, payable on November 18, 2013 (i)		24,151,867		24,076,273
Loan payable, bearing interest at 6.30% per annum, guaranteed by Feihe Dairy, payable on December 5, 2013		3,220,249		3,210,170
Loan payable, bearing interest at 6.12% per annum, guaranteed by Feihe Dairy and an undertaking from Feihe Dairy to maintain debt-asset ratio of not more than 70%, current ratio of at least 100% and long term investment of not more than 40% of net assets, due on December 3, 2013		2,576,199		2,568,136
Loan payable, bearing interest at 6.12% per annum, guaranteed by Feihe Dairy and an undertaking from Feihe Dairy to maintain debt-asset ratio of not more than 70%, current ratio of at least 100% and long term investment of not more than 40% of net assets and due on December 3, 2013		2,576,199		2,568,136
Loan payable, bearing interest at 6% per annum, secured by Feihe Dairy’s buildings with a total carrying amount of $3,332,385 as of March 31, 2013, payable on January 25, 2014 (iii)		6,440,499		—
Total		61,828,779		63,240,345

(i)	These loans were granted pursuant to a loan facility letter and have been made available to the Company up to RMB500 million (approximately $80.3 million) until July 24, 2013. These loans were also secured by a personal guarantee of Mr. Leng You-bin, Chairman, Chief Executive Officer, President, and General Manager of the Group, for a period of one year from November 19, 2012 to November 18, 2013.
(ii)	The loan was also secured by a personal guarantee of Mr. Leng for a period of one year from July 10, 2012 to July 9, 2013.
(iii)	This loan was granted pursuant to a loan facility letter and has been made available to the Company up to RMB40 million (approximately $6.4 million) until December 18, 2013.