PROPERTY AND EQUIPMENT (TABLES)
 12 Months Ended
Dec. 31, 2016
PROPERTY AND EQUIPMENT (Tables)  
Property and equipment consists

Property and equipment consisted of the following:

 

 

 

December 31,

December 31,

 

 

2016

2015

Permit of land use

 

$

405,645

 

$

433,956

 

Building

 

 

9,868,491

 

 

10,557,234

 

Plant, machinery and equipment

 

 

25,700,825

 

 

27,325,440

 

Motor vehicle

 

 

249,122

 

 

242,860

 

Office equipment

 

 

244,786

 

 

256,679

 

Total

 

 

36,468,869

 

 

38,816,169

 

Less: accumulated depreciation

 

 

(11,501,421

)

 

(9,422,912

)

Property and Equipment, net

 

$

24,967,448

 

$

29,393,257

 
Useful lives of the assets

Depreciation is computed on a straight-line basis over the estimated useful lives of the assets as follows:

 

Asset

 

 Life - years 

Permit of land use

 

40 - 70

Building

 

20 - 49

Plant, machinery and equipment

 

5 - 10

Motor vehicle

 

5 - 10

Office equipment

 

3-5