Roan (RAHGF) 20-F 26 Apr 19 2018 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Dec. 31, 2018shares
Document and Entity Information [Abstract]
Entity Registrant Name	China Lending Corp
Entity Central Index Key	0001611852
Trading Symbol	CLDC
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Type	20-F
Document Period End Date	Dec. 31, 2018
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2018
Entity Emerging Growth Company	false
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	25,287,851

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 1,311,749	$ 1,220,380
Loans receivable - third parties, net of provision for loan losses of $128,109,728 and $61,882,048 as of December 31, 2018 and 2017, respectively	92,089,942	116,017,356
Loans receivable - related parties, net of provision for loan losses of $817,872 and $2,412,642 as of December 31, 2018 and 2017, respectively	490,724	1,244,739
Interest and fee receivables	105,823	6,035
Property and equipment, net	28,546	46,334
Intangible asset, net	67,571	80,729
Other assets	1,574,175	1,004,696
Total Assets	95,668,530	119,620,269
Liabilities
Short-term bank loans	7,983,640	11,969,976
Loans from a cost method investee	14,539,956	15,367,146
Loan from third parties	3,312,202
Secured loan payable	79,213,679	15,336,412
Dividends payable	480,000	480,000
Taxes payable	689,209	763,736
Warrant liabilities	550,800
Other liabilities	15,246,698	8,953,652
Total Liabilities	122,016,184	52,870,922
Commitments and Contingencies
Convertible Redeemable Class A Preferred Shares
Preferred Shares, no par value, unlimited shares authorized; 715,000 shares issued and outstanding as of December 31, 2018 and 2017, respectively	9,652,527	8,966,127
Shareholders' Equity (Deficit)
Ordinary Shares, no par value; unlimited shares authorized; 25,288,003 and 23,758,817 shares issued and outstanding as of December 31, 2018 and 2017, respectively
Additional paid-in capital	98,036,152	96,977,528
Statutory reserve	6,621,063	6,621,063
Accumulated deficits	(136,620,068)	(41,807,285)
Accumulated other comprehensive loss	(4,037,404)	(4,008,086)
Total Shareholders' Equity (Deficit)	(36,000,257)	57,783,220
Noncontrolling interests	76
Total Equity (Deficit)	(36,000,181)	57,783,220
Total Liabilities and Shareholders' Equity (Deficit)	$ 95,668,530	$ 119,620,269

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Provision for loan losses from third parties	$ 128,109,728	$ 61,882,048
Provision for loan losses from related parties	817,872	2,412,642
Preferred shares, par value
Preferred shares, authorized description	Unlimited shares authorized	Unlimited shares authorized
Preferred shares, issued	715,000	715,000
Preferred shares, outstanding	715,000	715,000
Ordinary shares, par value
Ordinary shares description	Unlimited shares authorized	Unlimited shares authorized
Ordinary shares, issued	25,288,003	23,758,817
Ordinary shares, outstanding	25,288,003	23,758,817

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Interest and fee income
Interest and fees on loans	$ 263,659	$ 16,231,844	$ 35,048,167
Interest and fees on loans-related parties		293,395	491,080
Interest on deposits with banks	512	1,076	4,652
Total interest and fee income	264,171	16,526,315	35,543,899
Interest expense
Interest expense on short-term bank loans	(1,241,463)	(1,583,491)	(715,535)
Interest expense and fees on secured loans	(2,651,273)	(3,253,472)	(2,442,527)
Interest expense on loans from third parties	(362,845)
Interest expense on loans from a cost investment investee	(2,639,945)	(2,530,586)	(1,818,656)
Total interest expenses	(6,895,526)	(7,367,549)	(4,976,718)
Provisions for loan losses	(85,001,603)	(52,976,851)	(4,650,887)
Provisions for loan losses - related parties	(714,145)	(2,322,898)
Provisions for loan losses	(85,715,748)	(55,299,749)	(4,650,887)
Net Interest (Loss) Income	(92,347,103)	(46,140,983)	25,916,294
Non-interest income		814,669	107,512
Non-interest expenses
Salaries and employee surcharge	(830,553)	(808,657)	(1,271,650)
Business taxes and other taxes	195	(141,284)	(686,266)
Other operating expenses	(1,679,557)	(2,053,401)	(2,666,148)
Investment impairment		(3,698,868)
Fair value changes in warrant liabilities	748,346
Total non-interest expenses	(1,761,569)	(6,702,210)	(4,624,064)
(Loss) Income Before Tax	(94,108,672)	(52,028,524)	21,399,742
Income tax expense	(17,635)	(2,754,749)	(4,121,338)
Net (Loss) Income	(94,126,307)	(54,783,273)	17,278,404
Dividend - Convertible Redeemable Class A preferred stock	(686,400)	(686,400)	(333,327)
Net income attributable to noncontrolling interests	(76)
Net (loss) income attributable to ordinary shareholders	(94,812,783)	(55,469,673)	16,945,077
Net (Loss) Income	(94,126,307)	(54,783,273)	17,278,404
Other comprehensive (loss) income
Foreign currency translation adjustments	(29,318)	5,608,353	(7,530,549)
Comprehensive (loss) income	(94,155,625)	(49,174,920)	9,747,855
Less: Comprehensive income attributable to noncontrolling interests	(76)
Comprehensive (loss) income attributable to ordinary shareholders	$ (94,155,701)	$ (49,174,920)	$ 9,747,855
Weighted-average common shares outstanding - basic	24,380,051	17,343,763	18,353,249
Weighted-average common shares outstanding - diluted	24,380,051	17,343,763	21,871,632
(Loss) Earnings per share to ordinary shareholders - Basic	$ (3.89)	$ (3.20)	$ 0.92
(Loss) Earnings per share to ordinary shareholders - Diluted	$ (3.89)	$ (3.20)	$ 0.77

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity (Deficit) - USD ($)	Total	Ordinary share	Additional paid-in capital	Statutory reserve	Retained earnings (Accumulated deficit)	Accumulated other comprehensive loss	Shareholder’s equity (deficit)	Non controlling interests
Balance at Dec. 31, 2015	$ 103,369,854		$ 94,723,964	$ 4,667,254	$ 6,064,526	$ (2,085,890)	$ 103,369,854
Balance, (in shares) at Dec. 31, 2015		20,000,000
Effect of Reverse Merger	(3,117,895)		(3,117,895)				(3,117,895)
Effect of Reverse Merger, shares		2,172,832
Issuance of shares for share-based compensation	$ 21,330		$ 21,330				$ 21,330
Issuance of shares for share-based compensation, shares		2,700
Shares conversion from rights		721,229
Share dividend payment to shareholders	$ 17,160		$ 17,160				$ 17,160
Share dividend Payment to shareholders, shares		2,103
Net (loss) income	17,278,404				17,278,404		17,278,404
Dividend to shareholders	(5,782,484)				(5,782,484)		(5,782,484)
Transfer to statutory reserve				1,868,984	(1,868,984)
Foreign currency translation adjustments	(7,530,549)					(7,530,549)	(7,530,549)
Balance at Dec. 31, 2016	104,255,820		91,644,559	6,536,238	15,691,462	(9,616,439)	104,255,820
Balance, (in shares) at Dec. 31, 2016		22,898,864
Share dividend payment to shareholders	5,332,969		5,332,969				5,332,969
Share dividend Payment to shareholders, shares		859,953
Net (loss) income	(54,783,273)				(54,783,273)		(54,783,273)
Dividend to shareholders	(2,630,649)				(2,630,649)		(2,630,649)
Transfer to statutory reserve				84,825	(84,825)
Foreign currency translation adjustments	5,608,353					5,608,353	5,608,353
Balance at Dec. 31, 2017	57,783,220		96,977,528	6,621,063	(41,807,285)	(4,008,086)	57,783,220
Balance, (in shares) at Dec. 31, 2017		23,758,817
Issuance of ordinary shares in a private placement with two investors (Note 8)	247,747		247,747				247,747
Issuance of ordinary shares in a private placement with two investors (Note 8), shares		769,232
Issuance and exercise of Series B Warrants (Note 8)	504,238		504,238				504,238
Issuance and exercise of Series B Warrants (Note 8), shares		390,579
Issuance of restricted shares	315,724		315,724				315,724
Issuance of restricted shares, shares		370,525
Forfeiture of restricted shares	(9,085)		(9,085)				(9,085)
Forfeiture of restricted shares, shares		(1,150)
Net (loss) income	(94,126,307)				(94,126,383)		(94,126,383)	76
Dividend to shareholders	(686,400)				(686,400)		(686,400)
Foreign currency translation adjustments	(29,318)					(29,318)	(29,318)
Balance at Dec. 31, 2018	$ (36,000,181)		$ 98,036,152	$ 6,621,063	$ (136,620,068)	$ (4,037,404)	$ (36,000,257)	$ 76
Balance, (in shares) at Dec. 31, 2018		25,288,003

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash Flows from Operating Activities:
Net income (loss)	$ (94,126,307)	$ (54,783,273)	$ 17,278,404
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Share-based compensation expenses	306,639		21,330
Depreciation	15,897	37,084	37,448
Amortization	9,160	8,009	4,003
Loss on disposal of property and equipment		13,070	58
Loss on debt restructuring		140,938
Investment impairment		3,698,868
Deferred tax expense (benefit)		885,311	(662,741)
Provisions for loan losses	85,715,748	55,299,749	4,650,887
Fair value changes in warrant liabilities	(748,346)
Changes in operating assets and liabilities:
Interest and fee receivables	(104,067)	958,248	(465,901)
Other assets	(621,554)	(589,456)	(413,772)
Taxes payable	(34,734)	(394,803)	(30,601)
Other liabilities	7,388,522	4,624,075	3,009,560
Net Cash (Used in) Provided by Operating Activities	(2,199,042)	9,897,820	23,428,675
Cash Flows from Investing Activities:
Originated loans disbursement	(69,842,661)	(192,628,156)	(331,721,346)
Repayment of loans from customers	3,221,767	176,801,788	307,589,717
Purchases of property and equipment			(16,341)
Purchases of intangible assets		(28,729)	(61,993)
Net Cash Used in Investing Activities	(66,620,894)	(15,855,097)	(24,209,963)
Cash Flows from Financing Activities:
Proceeds from private placement, net of issuance costs	1,190,000
Proceeds from private placements, deposited in escrow account	500,000
Proceeds from exercise of Series B Warrants	391
Cash acquired from reverse merger			6,083,009
Proceeds from short-term bank borrowings	67,258,135	5,178,415	13,997,380
Repayment of short-term bank borrowings	(30,985)	(1,331,846)	(6,020,378)
Repayment of secured loan			(9,150,975)
Proceeds from loans from a cost investment investee			15,050,946
Repayments from loans from a cost investment investee			(15,050,946)
Proceeds from a related party			1,615,903
Repayments of convertible promissory note		(650,000)
Payments of dividends		(873,600)	(7,795,182)
Amortization of secured loans		221,489
Net Cash Provided by (Used in) Financing Activities	68,917,541	2,544,458	(1,270,243)
Effect of Exchange Rate Changes on Cash and Cash Equivalents	(6,236)	136,611	(184,482)
Net change in Cash and Cash Equivalents	91,369	(3,276,208)	(2,236,013)
Cash and Cash Equivalents at Beginning of year	1,220,380	4,496,588	6,732,601
Cash and Cash Equivalents at End of Year	1,311,749	1,220,380	4,496,588
Supplemental Cash Flow Information
Cash paid for interest expense		3,106,480	5,136,312
Cash paid for income tax	$ 5,820	$ 1,895,652	$ 3,624,437

Organization and Nature of Oper

Organization and Nature of Operation	12 Months Ended
	Dec. 31, 2018
Organization and Nature of Operation [Abstract]
ORGANIZATION AND NATURE OF OPERATION	1. ORGANIZATION AND NATURE OF OPERATION China lending corporation (f.k.s DT Asia Investments Limited, “DT Asia”) the Company was a blank check company incorporated on April 8, 2014, under the laws of the British Virgin Islands for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation, purchasing all or substantially all of the assets of, entering into contractual arrangements, or engaging in any other similar business combination with one or more businesses or entities (an “Initial Business Combination”). On July 6, 2016, the Company consummated the Initial Business Combination with Adrie Global Holdings Limited (“Adrie”) and its subsidiaries and variable interest entity by acquiring from the shareholders of Adrie, all outstanding interests of Adrie and issued 20 million ordinary shares for a purchase price of US$200 million, with 8 million of such shares (the “Escrow Shares”) being held in escrow and subject to forfeiture (1) should the post-combination Company fail to meet certain minimum financial performance targets, or (2) as a result of indemnification claims by DT Asia Investments Limited. One-third of the Escrow Shares shall be released upon the post-combination Company obtaining certain specified adjusted consolidated net income targets in each of the calendar years 2016, 2017 and 2018. In May 2017, the company released one-third of the Escrow Shares. The targets of 2018 and 2017 were not achieved, as a result, the two installments of one-third of the Escrow Shares were not be released. The transaction was accounted for as a “reverse acquisition” since, immediately following completion of the transaction, the shareholders of Adrie effectuated control of the post-combination Company. For accounting purposes, Adrie was deemed to be the accounting acquirer in the transaction and, consequently, the transaction is treated as a recapitalization of Adrie (i.e., a capital transaction involving the issuance of shares by the Company for the shares of Adrie). Accordingly, for accounting purpose, the consolidated assets, liabilities and results of operations of Adrie became the historical financial statements of China Lending Corporation and its subsidiaries, and the Company’s assets, liabilities and results of operations were consolidated with Adrie beginning on the acquisition date. No step-up in basis or intangible assets or goodwill were recorded in this transaction. After the business acquisition, DT Asia was renamed as China Lending Corporation. China Lending Corporation (formerly known as “DT Asia”) (the “Company”, “we”, “us” and “our”) changed its year from March 31 to December 31. Adrie was incorporated under the laws of British Virgin Islands on November 19, 2014. The Company, through its subsidiaries and variable interest entity (“VIE”) engages in the business of providing loan facilities to micro, small and medium sized enterprises and sole proprietors in Xinjiang Uyghur Autonomous Region (“Xinjiang Province”) of the People’s Republic of China (“PRC”). On February 11, 2015, Adrie incorporated China Feng Hui Financial Holding Group Co., Limited (“Feng Hui Holding”) in Hong Kong with registered capital of HKD 1. Feng Hui Holding operates through two wholly-owned subsidiaries: Xinjiang Feng Hui Jing Kai Direct Lending Limited (“Jing Kai”) and Feng Hui Ding Xin (Beijing) Financial Consulting Co., Limited (“Ding Xin”). On May 14, 2015, Feng Hui Holding established Jing Kai under the laws of the PRC with registered capital of US$80,000,000. Jing Kai has no operations of its own to date. On May 20, 2015, Feng Hui Holding established Ding Xin with registered capital of US$1,000,000. Ding Xin is engaged in the business of financial consulting services. Urumqi Feng Hui Direct Lending Limited (“Feng Hui”) is a company established under the laws of the PRC on June 12, 2009, and its shareholders as of December 31, 2016 consisted of nine PRC companies and seven PRC individuals. Feng Hui is a microcredit company primarily engaged in providing direct loan services to small-to-medium sized enterprises, farmers and individuals in Xinjiang Province, PRC. On December 19, 2016, Feng Hui Holding established Ningbo Ding Tai Financial Leasing Co., Ltd. (“Ding Tai”) with registered capital of US$30,000,000. Ding Tai is engaged in the business of financial leasing service. Ding Tai has no operations of its own to date. On January 24, 2017, Feng Hui Holding established Xinjiang Xin Quan Financial Leasing Co., Ltd. (“Xin Quan”) with registered capital of US$30,000,000 and later increased to US$50,000,000 during the year ended December 31, 2018. Xin Quan is engaged in the business of financial leasing service. Xin Quan has no operations of its own to date. On November 19, 2018, Ding Xin and a third party company established Zhiyuan Factoring (Guangzhou) Co., Ltd. (“Zhiyuan”), with registered capital of RMB30,000,000, Zhiyuan is 99% owned by Ding Xin and the remaining 1% owned by the third party company. As of December 31, 2018, the shareholders has not paid in capital in Zhiyuan. On November 29, 2018, Ding Tai and Ding Xin acquired 98.04% and 1.96% equity interest in Hangzhou Zeshi Investment Partners (“Zeshi”), a limited partnership with registered capital of RMB 51,000,000. Upon the closing of acquisition, Zhiyuan has not started any operations, nor it had any identifiable net assets or paid-in capital. As a result, Zhiyuan was acquired at zero consideration. As of December 31, 2018, the shareholders has not paid in capital in Zhiyuan. Through Zhiyuan and Zeshi, the Company plans to launch new supply chain financing services in the near future, including business factoring program, financing products design, related corporate financing solutions, investments and asset management, etc. as part of its restructuring plan. As of December 31, 2018, Zhiyuan disbursed loans of approximately US$64.7 million to four customers. In accordance with US GAAP, the primary beneficiary of a VIE is the variable interest holder (e.g., a contractual counterparty or capital provider) deemed to have the controlling financial interest(s) in the VIE. The primary beneficiary is the reporting entity (or member of a related party group) that has both of the following characteristics: a) The power to direct the activities that most significantly impact the VIE’s economic performance; and b) The obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. Currently, Feng Hui is consolidated as a VIE of Ding Xin by a series of VIE Agreements with Ding Xin. Contractual Arrangements between Ding Xin, Feng Hui, and Feng Hui’s Shareholders On July 16, 2015, Ding Xin, Feng Hui and/or Feng Hui’s shareholders have executed the following agreements and instruments, pursuant to which China Lending Group, through its subsidiary Ding Xin, controls Feng Hui: Share Pledge Agreement, Exclusive Business Cooperation Agreement, Exclusive Option Agreement and Power of Attorney (“VIE Agreements”). Each of the VIE Agreements is described below, and became effective upon their execution therein. Exclusive Business Cooperation Agreement Pursuant to the Exclusive Business Cooperation Agreement between Feng Hui and Ding Xin, Ding Xin provides Feng Hui with comprehensive business support, technical services and consulting services relating to its day-to-day business operations and management, on an exclusive basis. For services rendered to Feng Hui by Ding Xin under this agreement, Ding Xin is entitled to collect a service fee calculated based on the complexity, required time, contents and commercial value of the consulting services provided by Ding Xin. Ding Xin will calculate and sum up the service fees and correspondingly issue a notice to Feng Hui. Feng Hui will pay such service fees to the bank accounts as designated by Ding Xin within 10 working days from the receipt of such notice. The Exclusive Business Cooperation Agreement shall remain in effect for five years, ending July 15, 2020, unless it is terminated by Ding Xin at its discretion with 30-days prior notice. Feng Hui does not have the right to terminate the Exclusive Business Cooperation Agreement unilaterally. Ding Xin may at its discretion unilaterally extend the term of the Exclusive Business Cooperation Agreement. This agreement grants Ding Xin the position as the primary beneficiary who is entitled to absorb losses or to receive benefits that could potentially be significant to Feng Hui. Share Pledge Agreement Under the Share Pledge Agreement between the Feng Hui shareholders and Ding Xin, the 16 Feng Hui shareholders pledged all of their equity interests in Feng Hui to Ding Xin to guarantee the secured indebtedness caused by failure of performance of Feng Hui’s and the Feng Hui shareholders’ obligations under the Exclusive Business Cooperation Agreement, Exclusive Option Agreement and Power of Attorney. Under the terms of the Share Pledge Agreement, any dividend or bonus received by Feng Hui in respect of the Pledged Equity shall be deposited into an account designated by Ding Xin. The Feng Hui shareholders also agreed that upon occurrence of any event of default, as set forth in the Share Pledge Agreement, Ding Xin is entitled to dispose of the pledged equity interest in accordance with applicable PRC laws. The Feng Hui shareholders further agreed not to dispose of the pledged equity interests or take any actions that would prejudice Ding Xin’s interest. The Share Pledge Agreement shall be effective until all obligations under the other VIE Agreements have been performed by Feng Hui, when the VIE Agreements are terminated or when the secured indebtedness has been satisfied in full. Under the terms of the agreement, in the event that Feng Hui or its shareholders breach their respective contractual obligations under the Exclusive Business Cooperation Agreement, Ding Xin, as pledgee, will be entitled to certain rights, including, but not limited to, the right to collect dividends generated by the pledged equity interests and absorbs expected losses. This agreement grants Ding Xin the position as the primary beneficiary who is entitled to absorb losses or to receive benefits that could potentially be significant to Feng Hui. Risks in relation to the VIE structure There are no consolidated VIEs’ assets that are collateral for the VIEs’ obligations and can only be used to settle the VIEs’ obligations. There are no creditors (or beneficial interest holders) of the VIEs that have recourse to the general credit of the Company or any of its consolidated subsidiaries. Conversely, liabilities recognized as a result of consolidating this VIE do not have any recourse on the Company’s general assets. There are no terms in any arrangements, considering both explicit arrangements and implicit variable interests, which require the Company or its subsidiaries to provide financial support to the VIEs. Exclusive Option Agreement Under the Exclusive Option Agreement, the Feng Hui shareholders irrevocably granted Ding Xin (or its designee) an exclusive option to purchase, to the extent permitted under PRC law, once or at multiple times, at any time, part or all of their equity interests in Feng Hui. The option price is equal to the lowest price permissible by PRC laws. The Exclusive Option Agreement will remain effective for a term of five years, ending July 15, 2020, and may be renewed at Ding Xin’s discretion. Power of Attorney Under the Power of Attorney, each Feng Hui shareholder authorized Ding Xin to act on the shareholder’s behalf as his, her or its exclusive agent and attorney with respect to all rights as a shareholder of Feng Hui, under PRC laws and the Articles of Association of Feng Hui, including but not limited to attending shareholder meetings and voting to approve the sale or transfer or pledge or disposition of shares in part or in whole or to designate and appoint the legal representative, directors, and supervisors of Feng Hui. When Ding Xin executes such shareholders’ rights, it should obtain all the current Ding Xin directors’ approval by the resolution of board of directors. The Power of Attorney shall be continuously valid with respect to each Feng Hui shareholder from the date of execution of the Power of Attorney, so long as such Feng Hui shareholder is a shareholder of Feng Hui. Ding Xin is entitled to terminate the Power of Attorney unilaterally at its discretion by the written notice to Feng Hui. The effective period of the VIE agreements is from July 16, 2015 to July 15, 2020. The VIE agreements can be renewed by written confirmation by Ding Xin to Feng Hui before their expiration. The extension length can be decided by Ding Xin solely. Once renewed, all the aforesaid agreed terms shall be unconditionally accepted by Feng Hui. Each VIE agreement can only be terminated if all parties thereto agree in writing to terminate the VIE agreement or if Ding Xin delivers to Feng Hui a notice of termination at least 30 days in advance of the termination effective date. Feng Hui has no right to terminate the VIE agreements unilaterally. Under this agreement, Ding Xin processes the power to direct the activities that most significantly impact the Feng Hui’s economic performance. Upon a series of VIE Agreements, currently, substantially all of China Lending’s consolidated assets are held, and its consolidated revenues and income are generated, by Feng Hui, its consolidated variable interest entity that is controlled by contractual arrangements. Feng Hui is based in Urumqi, the capital city and business hub of Xinjiang Province, and most of Feng Hui’s lending activities are to enterprises and individual proprietors based there. The consolidated VIE’s assets may be used as collateral for the VIE’s obligation and the creditors of consolidated VIE have no recourse to the general credit of the primary beneficiary. As of December 31, 2018, the group structure of the Company is as following: Emerging Growth Company Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a Company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth Company, can adopt the new or revised standard at the time private companies adopt the new or revised standard.

Going Concern

Going Concern	12 Months Ended
	Dec. 31, 2018
Going Concern [Abstract]
GOING CONCERN	2. GOING CONCERN The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The realization of assets and the satisfaction of liabilities in the normal course of business are dependent on, among other things, the Company’s ability to operate profitably, to generate cash flows from operations, and to pursue financing arrangements to support its working capital requirements. The following includes conditions give rise to substantial doubt about the Company’s ability to continue as a going concern within one year from the financial statement issuance date and management’s plans to mitigate these adverse conditions: 1) Limited funds necessary to maintain operations The Company had an accumulated deficit of US$136,620,068 as of December 31, 2018. In addition, the Company had a negative net asset of US$36,000,181 as of December 31, 2018. As of December 31, 2018, the Company had cash of US$1,311,749 and total liabilities of US$122,016,184. Caused by the limited funds, the management assessed that the Company was not able to keep the size of lending business within one year from the financial statement issuance date. In November, the Company established Zhiyuan and Zeshi, through which the Company plans to launch new supply chain financing services in the near future, including business factoring program. financing products design, related corporate financing solutions, investments and asset management, etc. as part of its restructuring plan. As of December 31, 2018, Zhiyuan disbursed loans of aggregating US$64.7 million to four customers. 2) Recurring operating loss During the year ended December 31, 2018, the Company incurred operating loss of US$94,126,307. Affected by the reduction of lending business and increased loans losses, the management was in the opinion that recurring operating losses would be made continue within one year from the financial statement issuance date. The Company continues to use its best effort to improve collection of loan receivable and interest receivable, which would result in reversal of provision for loan losses and recognition of interest income which was past due over 90 days and thus an increase in net profit. 3) Negative operating cash flow During the year ended December 31, 2018, the Company incurred negative operating cash flow of US$2,199,042. However with the establishment of Zhiyuan and Zeshi, through which the Company plans to launch new supply chain financing services in the near future, including business factoring program. financing products design, related corporate financing solutions, investments and asset management, etc. as part of its restructuring plan, the management assessed the Company would have a positive operating cash flow within one year from the financial statement issuance date. ● Financial Support The Company has been actively seeking strategic investors with experience in lending business as well as financial investors. On July 10, 2018, the Company closed a registered direct offering pursuant to a previously announced securities purchase agreement with certain institutional investors, raising approximately US$1,690,000, net of issuance costs, from selling its ordinary shares at a price of US$2.60 per share. The Company plans to continue to seek financial as well as strategic investors for additional financing. Though management had plans to mitigate the conditions or events that raise substantial doubt, there is substantial doubt about the Company’s ability to continue as a going concern within one year from the financial statements issuance date, as there is no assurance that the liquidity plan will be successfully implemented. Failure to successfully implement the plan will have a material adverse effect on the Company’s business, results of operations and financial position, and will materially adversely affect its ability to continue as a going concern.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of presentation The consolidated financial statements of the Company and its subsidiaries and VIE are prepared and presented in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). (b) Basis of consolidation The consolidated financial statements include the accounts of the Company and include the assets, liabilities, revenues and expenses of all wholly owned subsidiary’s VIEs over which the Company exercises control and, when applicable, entities for which the Company has a controlling financial interest or is the primary beneficiary. All inter-company accounts and transactions have been eliminated in consolidation. (c) Cash and cash equivalents Cash and cash equivalents consist of bank deposits with original maturities of three months or less, all of which are unrestricted as to withdrawal and uninsured. Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which at times, may exceed the U.S. Federal depository insurance coverage of $250,000, or other limits of protection if held in financial institutions outside of the U.S., such as Government securities coverage of HK$500,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts. (d) Loan receivable, net Loans receivable primarily represent loan amounts due from customers. Loans receivable are recorded at unpaid principal balances net of provision that reflects the Company’s best estimate of the amounts that will not be collected. The loans receivable portfolio consists of business and personal loans (See Note 9). (e) Provision for loan losses The provision for loan losses is increased by charges to income and decreased by charge offs (net of recoveries). Recoveries represent subsequent collection of amounts previously charged-off. The increase in provision for loan losses is the netting effect of “reversal” and “provision” for both business and personal loans. If the ending balance of the provision for loan losses after any charge offs (net of recoveries) is less than the beginning balance, it will be recorded as a “reversal”; if it is larger, it will be recorded as a “provision” in the provision for loan loss. The netting amount of the “reversal” and the “provision” is presented in the statements of operations and comprehensive income. The provision consists of specific and general components. The specific component consists of the amount of impairment related to loans that have been evaluated on an individual basis, and the general component consists of the amount of impairment related to loans that have been evaluated on a collective basis. Loans are considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts when due according to the contractual terms of the loan agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings (“TDRs”). The Company recognizes a charge-off when management determines that full repayment of a loan is not probable. The primary factor in making that determination is the potential outcome of a lawsuit against the delinquent debtor. The Company will recognize a charge-off when the Company loses contact with the delinquent borrower for more than nine months or when the court rules against the Company to seize the collateral asset of the delinquent debt from either the guarantor or borrower. In addition, when the recoverability of the delinquent debt is highly unlikely, the senior management team will go through a stringent procedure to approve a charge-off. Management estimates the provision balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, economic conditions, and other factors. Allocations of the provision may be made for specific loans, but the entire provision is available for any loan that, in management’s judgment, should be charged-off. The provision for loan losses is maintained at a level believed to be reasonable by management to absorb probable losses inherent in the portfolio as of each balance sheet date. The provision is based on factors such as the size and current risk characteristics of the portfolio, an assessment of individual loans and actual loss, delinquency, and/or risk rating record within the portfolio (Note 10). The Company evaluates its provision for loan losses on a quarterly basis or more often as necessary. (f) Interest and fee receivables Interest and fee receivables are accrued and credited to income as earned but not received. The Company determines a loan past due status by the number of days that have elapsed since a borrower has failed to make a contractual interest or principal payment. Accrual of interest is generally discontinued when either (i) reasonable doubt exists as to the full, timely collection of interest or principal or (ii) when a loan interest or principal becomes past due by more than 90 days. Additionally, any previously accrued but uncollected interest is reversed. Subsequent recognition of income occurs only to the extent payment is received, subject to management’s assessment of the collectability of the remaining interest and principal. Loans are generally restored to an accrual status when it is no longer delinquent and collectability of interest and principal is no longer in doubt and past due interest is recognized at that time. (g) Cost method investment The Company carries its cost method investments at cost, recognized income as any dividend declared from distributions of the investee’s earnings if any and only adjusts for other-than-temporary impairment and distributions of earnings as the Company’s equity interest in the investee is less than 20%. Management regularly evaluates the investment for impairment based on performance and financial position of the investee as well as other evidence of market value. Such evaluation includes, but is not limited to, reviewing the investee’s cash position, recent financing, projected and historical financial performance, cash flow forecasts and financing needs. For the years ended December 31, 2018, 2017 and 2016, the Company provided impairment losses of US$nil, US$3,698,868 and US$nil on cost method investments. (h) Property and equipment The property and equipment are stated at cost less accumulated depreciation. The depreciation is computed on the straight-line method over the estimated useful lives of the assets. Estimated useful lives of property and equipment are stated in Note 12. The Company eliminates the cost and related accumulated depreciation of assets sold or otherwise retired from the accounts and includes any gain or loss in the statement of income. The Company charges maintenance, repairs and minor renewals directly to expenses as incurred, major additions and betterment to equipment are capitalized. (i) Impairment of long-lived assets The Company’s definite long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value. The Company tests long-lived assets, including property and equipment and finite lived intangible assets, for impairment test when there is triggering event. Only indefinite lived assets have to be tested annually or more frequently upon the occurrence of an event or when circumstances indicate that the net carrying amount is greater than its fair value. Assets are grouped and evaluated at the lowest level for their identifiable cash flows that are largely independent of the cash flows of other groups of assets. The Company considers historical performance and future estimated results in its evaluation of potential impairment and then compares the carrying amount of the asset to the future estimated cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value. The estimation of fair value is generally measured by discounting expected future cash flows as the rate the Company utilizes to evaluate potential investments. The Company estimates fair value based on the information available in making whatever estimates, judgments and projections are considered necessary. There were no impairment losses for the years ended December 31, 2018, 2017 and 2016. (j) Intangible assets Intangible assets are amortized over their useful lives in a manner that best reflects their economic benefit, which may include straight line or accelerated methods of amortization. Intangible assets are reviewed for impairment annually and whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company does not have indefinite-lived intangible assets. (k) Warrant liabilities In connection with the issuances of common stocks, the Company may issue options or warrants to purchase common stock. In certain circumstances, these options or warrants may be classified as liabilities, rather than as equity. Warrants classified as equity are initially recorded at fair value and subsequent changes in fair value are not recognized as long as the warrants continue to be classified as equity. Warrants classified as liabilities are initially recorded at fair value with gains and losses arising from changes in fair value recognized in the consolidated statements of operations during the period in which such instruments are outstanding. (l) Fair values of financial instruments Disclosure is required for fair value information of financial instruments, whether or not recognized in the balance sheets, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instruments. Certain financial instruments and all nonfinancial assets and liabilities are excluded from disclosure requirements. Accordingly, the aggregate fair value amounts do not represent the underlying value of the Company. Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. The fair value guidance describes three main approaches to measure the fair value of assets and liabilities: (1) market approach, (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. When available, the Company uses quoted market prices to determine the fair value of an asset or liability. If quoted market prices are not available, the Group will measure fair value using valuation techniques that use, when possible, current market-based or independently sourced market parameters, such as interest rates and currency rates. As of December 31, 2018 and 2017, financial instruments of the Company were primarily comprised of cash, loans receivable, interest and fees receivable, other receivables, short-term bank loans, loans from a cost investment investee, loan from a third party and secured loans, taxes payable, convertible redeemable preferred shares, dividends payable, other payable and accrued expenses, which were carried at cost on the balance sheets, which approximated their fair values because of their generally short maturities. Warrant liabilities The inputs used to measure the estimated fair value of warrant liabilities are classified as Level 3 fair value measurement due to the significance of unobservable inputs using company-specific information. The valuation methodology used to estimate the fair value of warrant liabilities is discussed in Note 8. As of December 31, 2018, the Company’s warrant liabilities was comprised of Series A Warrants relating to a private placement closed in July 2018, and the warrants issued to the agent for the private placement (Note 8), at the fair value of $510,000 and US$40,800, respectively. (m) Foreign currency translation and transactions The reporting currency of China Lending is United States Dollars (“$”), which is also the functional currency. The Feng Hui Holding and PRC subsidiaries and VIE maintain their books and records in its local currency, the Hong Kong Dollars (“HKD”) and Renminbi Yuan (“RMB”) respectively, which are their functional currencies as being the primary currency of the economic environment in which these entities operate. Transactions in foreign currencies other than functional currencies are initially recorded at the functional currency rate ruling at the date of transaction. Any differences between the initially recorded amount and the settlement amount are recorded as a gain or loss on foreign currency transaction in the statements of income. Monetary assets and liabilities denominated in foreign currency are translated at the functional currency rate of exchange ruling at the balance sheet date. Any differences are taken to profit or loss as a gain or loss on foreign currency translation in the statements of income. The Company translated the assets and liabilities into US dollars using the rate of exchange prevailing at the applicable balance sheet date and the statements of income and cash flows at an average rate during the reporting period, as set forth in the following tables. Adjustments resulting from the translation are recorded in shareholders’ equity as part of accumulated other comprehensive loss. December 31, 2018 December 31, 2017 Balance sheet items, except for equity accounts 6.8776 6.5074 For the Years Ended 2018 2017 2016 Items in the statements of operations and comprehensive (loss) income, and statements of cash flows 6.6163 6.7588 6.6441 The PRC government imposes significant exchange restrictions on fund transfers out of the PRC that are not related to business operations. These restrictions have not had a material impact on the Company because it has not engaged in any significant transactions that are subject to the restrictions. (n) Use of estimates and assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, management reviews these estimates using the currently available information. Changes in facts and circumstances may cause the Company to revise its estimates. Significant accounting estimates reflected in the financial statements include: (i) the provision for loan losses; (ii) accrual of estimated liabilities; (iii) contingencies and litigation; (iv) assumptions impacting the valuation of ordinary shares, share option, restricted shares and warrant liabilities, and (v) deferred tax ies. (o) Revenue recognition The Company adopted ASC 606, Revenue from Contracts with Customers (“ASC 606”) on January 1, 2018, using the modified retrospective approach. ASC 606 establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. The Company has assessed the impact of the guidance by reviewing its existing customer contracts and current accounting policies and practices to identify differences that will result from applying the new requirements, including the evaluation of its performance obligations, transaction price, customer payments, transfer of control and principal versus agent considerations. Based on the assessment, the Company concluded that there was no change to the timing and pattern of revenue recognition for its current revenue streams in scope of ASC 606 and therefore there was no material changes to the Company’s consolidated financial statements upon adoption of ASC 606. Pursuant to ASC606-10-15-2, the interest income generated by the Company are scoped out of ASC606. As of December 31, 2018, the Company had outstanding interest and commission related contract amount US$988,981, which were expected to be completed within 12 months after December 31, 2018. Interest income on loans – Interest on loan receivables is accrued monthly in accordance with their contractual terms and recorded in accrued interest receivable. The Company does not charge prepayment penalties. Additionally, any previously accrued but uncollected interest is reversed and accrual is discontinued, when either (i) reasonable doubt exists as to the full, timely collection of interest or principal or (ii) when a loan becomes past due by more than 90 days. Management and assessment services on loans – Service fees for management and assessment services are paid by customers for the management and assessment services provided during the loan period. The Company recognizes the revenue over the loan period using a time-based measure of progress. (p) Non-interest expenses Non-interest expenses primarily consist of salary and benefits for employees, traveling cost, entertainment expenses, depreciation of equipment, office rental expenses, professional service fee, office supply, etc., and are expensed as incurred. (q) Employee benefits The full-time employees of the Company are entitled to staff welfare benefits including medical care, housing fund, pension benefits, unemployment insurance and other welfare, which are government mandated defined contribution plans. The Company is required to accrue for these benefits based on certain percentages of the employees’ respective salaries, subject to certain ceilings, in accordance with the relevant PRC regulations, and make cash contributions to the state-sponsored plans out of the amounts accrued. Total expenses for the plans were US$82,186, US$145,554, and $ 178,547 for the years ended December 31, 2018, 2017 and 2016, respectively. (r) Loss per share Basic loss per share is computed by dividing loss available to stockholders by the weighted average shares of common stock outstanding during the period. Diluted loss per share takes into account the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted into common stock. As of December 31, 2018 and 2017, The number of Class A convertible redeemable preferred shares, unit purchase option, convertible promissory note, non-vested restricted shares and warrants are omitted excluded from the computation as the anti-dilutive effect. (s) Income taxes The Company accounts for income taxes in accordance with the U.S. GAAP for income taxes. Under the asset and liability method as required by this accounting standard, the recognition of deferred income tax liabilities and assets for the expected future tax consequences of temporary differences between the income tax basis and financial reporting basis of assets and liabilities. Provision for income taxes consists of taxes currently due plus deferred taxes. The charge for taxation is based on the results for the year as adjusted for items which are non-assessable or disallowed. It is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date. Deferred tax is accounted for using the balance sheet liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax basis. Deferred tax assets are recognized to the extent that it is probable that taxable income to be utilized with prior net operating loss carried forward. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. The Company did not have unrecognized uncertain tax positions or any unrecognized liabilities, interest or penalties associated with unrecognized tax benefit as of December 31, 2018 and 2017. As of December 31, 2018, income tax returns for the tax years ended December 31, 2012 through December 31, 2017 remain open for statutory examination by PRC tax authorities. (t) Comprehensive loss Comprehensive loss includes net loss and foreign currency adjustments. Comprehensive loss is reported in the statements of operations and comprehensive loss. Accumulated other comprehensive loss, as presented on the consolidated balance sheets are the cumulative foreign currency translation adjustments. (u) Commitment and contingencies In the normal course of business, the Company is subject to loss contingencies, such as legal proceedings and claims arising out of its business, that cover a wide range of matters, including, among others, government investigations and tax matters. The Company records accruals for such loss contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. (v) Noncontrolling interests For the Company’s non-wholly owned subsidiaries, a noncontrolling interest is recognized to reflect portion of equity that is not attributable, directly or indirectly, to the Company. The cumulative results of operations attributable to noncontrolling interests are also recorded as noncontrolling interests in the Company’s consolidated balance sheets and consolidated statements of operations and comprehensive loss. Cash flows related to transactions with noncontrolling interests are presented under financing activities in the consolidated statements of cash flows. (w) Share-based compensation Share-based awards granted to the Company’s employees are measured at fair value on grant date and share-based compensation expense is recognized (i) immediately at the grant date if no vesting conditions are required, or (ii) using the accelerated attribution method, net of estimated forfeitures, over the requisite service period. The fair value of share options is determined using the Black-Scholes valuation model and the fair value of restricted shares and restricted share units (“RSUs”) is determined with reference to the fair value of the underlying shares. Share-based awards granted to non-employees are initially measured at fair value on the grant date and remeasured at each reporting date through the vesting date. Such value is recognized as expense over the respective service period, net of estimated forfeitures. Share-based compensation expense, when recognized, is charged for the consolidated income statements with the corresponding entry to additional paid-in capital. At each date of measurement, the Company reviews internal and external sources of information to assist in the estimation of various attributes to determine the fair value of the share-based awards granted by the Company, including but not limited to the fair value of the underlying shares, expected life, expected volatility and expected forfeiture rates. The Company is required to consider many factors and make certain assumptions during this assessment. If any of the assumptions used to determine the fair value of the share-based awards changes significantly, share-based compensation expense may differ materially in the future from that recorded in the current reporting period. The Company recognizes the impact of any revisions to the original forfeiture rate assumptions in the consolidated income statements, with a corresponding adjustment to equity. (x) Recently issued accounting standards In December 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-20, Leases (Topic 842): Narrow-Scope Improvements for Lessors. The amendments clarify or simplify certain narrow aspects of ASC 842 for lessors. Specifically: 1) The amendments provide an accounting policy election whereby lessors may choose not to evaluate whether certain sales taxes and other similar taxes are lessor costs or lessee costs. Instead, lessors making the election will account for those costs as if they are lessee costs, i.e., through the balance sheet instead of the income statement. 2) Lessors will exclude from variable payments, and therefore revenue, lessor costs paid by lessees directly to third parties. Conversely, lessors will include in variable payments, and therefore revenue, such costs that are paid by the lessor and reimbursed by the lessee, and 3) Regarding contracts with lease and nonlease components, lessors will allocate certain variable payments to the lease and nonlease components when the changes in facts and circumstances on which the variable payment is based occur. The amount of variable payments allocated to the lease components will be recognized in profit or loss, while the amount of variable payments allocated to nonlease components will be recognized in accordance with other GAAP. If an entity has not yet adopted the new leases standard, it must adopt ASU 2018-20 concurrently with the leases standard. If an entity has previously adopted the new leases standard, specific transition requirements apply. T In October 2018, the FASB issued ASU2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities. ASU 2018-17 expands the accounting alternative that allows private companies the election not to apply the variable interest entity guidance to qualifying common control leasing arrangements. ASU 2018-17 broadens the scope of the private company alternative to include all common control arrangements that meet specific criteria (not just leasing arrangements). ASU 2018-17 also eliminates the requirement that entities consider indirect interests held through related parties under common control in their entirety when assessing whether a decision-making fee is a variable interest. Instead, the reporting entity will consider such indirect interests on a proportionate basis. The amendments are effective for public business entities for fiscal years ending after December 15, 2019. Early adoption is permitted. The Company is currently assessing the timing and impact of adopting the updated provisions to its consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement - Disclosure Framework (Topic 820). The updated guidance improves the disclosure requirements on fair value measurements. The updated guidance if effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for any removed or modified disclosures. The Company is currently assessing the timing and impact of adopting the updated provisions to its consolidated financial statements. In June 2018, the FASB issued ASU 2018-07, which simplifies several aspects of the accounting for nonemployee share-based payment transactions resulting from expanding the scope of Topic 718, Compensation-Stock Compensation, to include share-based payment transactions for acquiring goods and services from non-employees. Some of the areas for simplification apply only to nonpublic entities. The amendments specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. The amendments also clarify that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers. The amendments in this Update are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. Early adoption is permitted. We do not plan to early adopt this ASU. The Company is currently evaluating the potential impacts of this updated guidance, and do not expect the adoption of this guidance to have a material impact on its consolidated financial statements and related disclosures. In March 2018, the Financial Accounting Standards Board issued Accounting Standards Update No. 2018-05: “Income Taxes (Topic 805)” In February 2018, the FASB issued ASU No. 2018-02, “Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” (“ASU 2018-02”), which provides financial statement preparers with an option to reclassify stranded tax effects within accumulated other comprehensive income to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (or portion thereof) is recorded. The amendments in this ASU are effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption of ASU 2018-02 is permitted, including adoption in any interim period for the public business entities for reporting periods for which financial statements have not yet been issued. The amendments in this ASU should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The Company does not expect that the adoption of this guidance will have a material impact on its consolidated financial statements. In July 2017, the FASB issued ASU No. 2017-11, “Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part

Reclassification

Reclassification	12 Months Ended
	Dec. 31, 2018
Reclassification [Abstract]
RECLASSIFICATION	4. RECLASSIFICATOIN Certain prior year amounts have been reclassified to conform to the current year presentation. The reclassifications have no effect on the accompanying consolidated financial statements. The Company reclassified certain loans receivable in its consolidated balance sheet and related interest and fees income in its consolidated statements of operations and comprehensive income (loss). A third party company has been redesignated to a related party on the corresponding loans receivable as of December 31, 2017. As a result, $2,109,780 of loans receivable as a third party was reclassified to related parties at December 31, 2016. The related interest and fees income of approximately $491,080 was also reclassified from third parties for the years ended December 31, 2016.

Risks

Risks	12 Months Ended
	Dec. 31, 2018
Risks/Concentration of Credit Risks [Abstract]
RISKS	5 . RISKS 1) Credit risk Credit risk is one of the most significant risks for the Company’s business and arise principally in lending activities. Credit risk is controlled by the application of credit approvals, limits and monitoring procedures. The Company manages credit risk through in-house research and analysis of the Chinese economy and the underlying obligors and transaction structures. To minimize credit risk, the Company requires collateral in the form of rights to cash, securities or property and equipment. The Company identifies credit risk collectively based on industry, geography and customer type. This information is monitored regularly by management. The Company originates loans to customers located primarily in Urumqi City, Xinjiang Province. This geographic concentration of credit exposes the Company to a higher degree of risk associated with this economic region. In measuring the credit risk of lending loans to corporate customers, the Company mainly reflects the “probability of default” by the customer on its contractual obligations and considers the current financial position of the customer and the exposures to the customer and its likely future development. For individual customers, the Company uses standard approval procedures to manage credit risk for personal loans. 2) Liquidity risk The Company is also exposed to liquidity risk which is risk that it is unable to provide sufficient capital resources and liquidity to meet its commitments and business needs. Liquidity risk is controlled by the application of financial position analysis and monitoring procedures. When necessary, the Company will turn to other financial institutions and the owners to obtain short-term funding to meet the liquidity shortage. 3) Foreign currency risk A majority of the Company’s operating activities and a significant portion of the Company’s assets and liabilities are denominated in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the Peoples’ Bank of China (“PBOC”) or other authorized financial institutions at exchange rates quoted by PBOC. Approval of foreign currency payments by the PBOC or other regulatory institutions requires submitting a payment application form together with suppliers’ invoices and signed contracts. The value of RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market. 4) Industry concentration risk The Company is exposed to concentration risk which is risk associated to over concentration on certain market, an excessive concentration can give rise to market risk. Analysis for industry concentration over 10% as of December 31, 2018 (please refer to Note 25 for certain related parties acted as guarantors for loans): Loan receivable as of December 31, 2018 Interest income for the year ended December 31, 2018 Tire supply chain financing $ 79,604,804 $ - Trade and service $ 55,090,515 $ 156,126 Construction and decoration $ 50,889,845 $ 7,455 Percentage Percentage Tire supply chain financing 35.9 % 0 % Trade and service 24.9 % 59.2 % Construction and decoration 23.0 % 2.8 % Analysis for industry concentration over 10% as of December 31, 2017 (please refer to Note 25 for certain related parties acted as guarantors for loans): Loan receivable as of December 31, 2017 Interest income for the year ended December 31, 2017 Tire supply chain financing $ 84,133,590 $ 7,767,344 Trade and service $ 57,927,749 $ 6,231,634 Construction and decoration $ - $ - Percentage Percentage Tire supply chain financing 46.3 % 47.0 % Trade and service 31.9 % 37.7 % Construction and decoration - -

Redeemable Convertible Preferre

Redeemable Convertible Preferred Shares	12 Months Ended
	Dec. 31, 2018
Redeemable Convertible Preferred Shares [Abstract]
REDEEMABLE CONVERTIBLE PREFERRED SHARES	6. REDEEMABLE CONVERTIBLE PREFERRED SHARES On July 6, 2016, the Company sold 715,000 Class A Preferred Shares at a price of US$12.00 per Class A Share with an annual dividend of 8%. The Company received gross proceeds of US$8,580,000 from this private placement without issuance cost. The Class A Shares are mandatorily redeemable at a price US$12.00 per Class A Share (subject to equitable adjustments for stock splits, stock dividends, recapitalizations and other similar adjustments), plus accrued dividends on the fifth anniversary of the original issue date of the Class A Shares. Each Class A Share is convertible into one ordinary share (subject to equitable adjustments for stock splits, stock dividends, recapitalizations and other similar adjustments) at shareholder’s option after the closing of the Business Combination. The Class A preferred shares are automatically convertible on the date on which the average closing price of the Company’s ordinary shares for three consecutive trading days, that is equal to or exceeds US$16.00, provided that such date is after the closing of the Business Combination. In the event of a Reorganization Event occurring following the closing of the Business Combination (which includes certain business combinations involving the Company or the Company having confirmed that at least 80% of the Class A Shares originally issued have elected to been converted at the election of their holders), each Class A Share outstanding immediately prior to such Reorganization Event shall be redeemed by the Company by making a redemption payment equal to the greater of the following (as reasonably determined by the Company’s Board of Directors): (i) an amount in cash equal to the liquidation preference, plus an amount equal to accumulated and unpaid dividends as of (but excluding) the date of the Reorganization Event, per Class A Share that is so redeemed, or (ii) the kind of securities, cash and other property that the holder of Class A Shares holding such Class A Share would have been entitled to receive if such holder had converted its Class A Shares into ordinary shares immediately prior to such Reorganization Event. The Company did not recognize the beneficial conversion feature for the Class A Preferred shares since each Class A Share is convertible into one ordinary share (subject to equitable adjustments for stock splits, stock dividends, recapitalizations and other similar adjustments) at holder’s option. In accordance with ASC 480, redemption provisions not solely within the control of the Company require the security to be classified outside of permanent equity. ASC 480-10-S99 notes that if a reporting entity issues preferred shares that are conditionally redeemable (e.g., at the holder’s option or upon the occurrence of an uncertain event not solely within the company’s control), the shares are not within the scope of ASC 480 because there is no unconditional obligation to redeem the shares by transferring assets at a specified or determinable date or upon an event certain to occur. If the uncertain event occurs, the condition is resolved, or the event becomes certain to occur, then the shares become mandatorily redeemable under FAS 150 and would require reclassification to a liability. The Class A Preferred Shares have been classified as mezzanine equity in the consolidated financial statement, presented below total liabilities but not included in the subtotal for total equity as of December 31, 2018. The Class A Preferred Share is not deemed to be an embedded derivative instrument to be bifurcated since it’s indexed to its own stock. As of December 31, 2018 and 2017, dividend of US$686,400 and US$686,400 was accrued for Convertible Redeemable Class A Preferred Shares and the balance for Class A Preferred Shares was US$9,652,527 and US$8,966,127, respectively.

Public Offering

Public Offering	12 Months Ended
	Dec. 31, 2018
Public Offering [Abstract]
PUBLIC OFFERING	7 . PUBLIC OFFERING On October 6, 2014, in its Public Offering, the Company sold 6,000,000 Units at an offering price of $10.00 per Unit and on October 14, 2014 the Company sold an additional 860,063 Units upon the underwriters’ exercise of its Over-Allotment option. Each Unit consists of one ordinary share (“Share”), one right (“Right(s)”), and one warrant (“Warrant”). Each Right entitles the holder to receive one-tenth (1/10) of a Share upon consummation of an Initial Business Combination. Each Warrant entitles the holder to purchase one-half of one ordinary share at a price of $12.00 per full share commencing on the later of the Company’s completion of its Initial Business Combination or 12 months from December 31, 2014, the effective date of the registration statement relating to the Public Offering (the “Effective Date”), and expiring five years from the completion of the Company’s Initial Business Combination. As a result, shareholders must exercise Warrants in multiples of two Warrants, at a price of $12.00 per full share, subject to adjustment, to validly exercise the Warrants. The Company may redeem the Warrants at a price of $0.01 per Warrant upon 30 days’ notice, only in the event that the last sale price of the ordinary shares is at least $18.00 per share for any 20 trading days within a 30-trading day period (“30-Day Trading Period”) ending on the third day prior to the date on which notice of redemption is given, provided there is a current registration statement in effect with respect to the ordinary shares underlying such Warrants commencing five business days prior to the 30-Day Trading Period and continuing each day thereafter until the date of redemption. If the Company redeems the Warrants as described above, management will have the option to require all holders that wish to exercise Warrants to do so on a “cashless basis.” The Units sold in the Public Offering began trading on October 1, 2014, the day after the Effective Date. Each of the Shares, Rights and Warrants were eligible to trade separately effective as of October 22, 2014. Security holders now have the option to continue to hold Units or separate their Units into the component pieces. Holders will need to have their brokers contact the Company’s transfer agent in order to separate the Units into Shares, Rights and Warrants. On May 30, 2016 and July 6, 2016, 5,255,657 and 1,544,138 shares were redeemed respectively by public shareholders. As of July 7, 2016, the Units have ceased trading. On December 21, 2016, all warrants were removed from listing. On July 6, 2016, DT Asia Investments Limited (the “Company”) closed its business combination with Adrie Global Holding Limited (“Adrie”). As a result, Adrie became a wholly-owned subsidiary of the Company. Underwriting Agreement The Company paid an underwriting discount on Units sold in the Public Offering, of 3.25% of the Unit offering price, to the underwriters at the closing of the Public Offering (or an aggregate of $2,229,520, including discounts for the Public Units sold in the Over-Allotment exercise). The Company also sold to EBC and/or its designees, at the time of the closing of the Public Offering, for an aggregate of $100.00, an option (“Unit Purchase Option” or “UPO”) to purchase 600,000 Units. The UPO will be exercisable at any time, in whole or in part, during the period commencing on the later of the first anniversary of the Effective Date and the closing of the Company’s Initial Business Combination and terminating on the fifth anniversary of the Effective Date (December 31, 2019) at a price per Unit equal to $11.75. Accordingly, after the Initial Business Combination, the purchase option will be to purchase 660,000 ordinary shares (which includes 60,000 ordinary shares to be issued for the rights included in the units) and 600,000 Warrants to purchase 300,000 ordinary shares. The Units issuable upon exercise of this option are identical to the Units in the Offering. On July 5, 2016, based on updated mutual agreement, the Company paid $1.5 million in cash, issued a $250,000 convertible promissory note (one year no interest, convertible at $10 at EBC’s option) and issued 34,300 ordinary shares to EBC with a value of $343,000 at $10 per share to settle the EBC advisory fee in full. Accounting for UPO The Company accounted for the fair value of the UPO, inclusive of the receipt of a $100 cash payment, as an expense of the Offering resulting in a charge directly to shareholders’ equity. The Company estimated that the fair value of the unit purchase option when issued was approximately $1,669,000 (or $2.782 per unit) using the Black-Scholes option-pricing model. The fair value of the unit purchase option was estimated as of the date of grant using the following assumptions: (1) expected volatility of 35%, (2) risk-free interest rate of 1.73% and (3) expected life of five years. The UPO may be exercised for cash or on a “cashless” basis, at the holder’s option (except in the case of a forced cashless exercise upon the Company’s redemption of the Warrants, as described above), such that the holder may use the appreciated value of the UPO (the difference between the exercise prices of the UPO and the underlying Warrants and the market price of the Units and underlying ordinary shares) to exercise the UPO without the payment of any cash. The Company will have no obligation to net cash settle the exercise of the UPO or the Warrants underlying the UPO. The holder of the UPO will not be entitled to exercise the UPO or the Warrants underlying the UPO unless a registration statement covering the securities underlying the UPO is effective or an exemption from registration is available. If the holder is unable to exercise the UPO or underlying Warrants, the UPO or Warrants, as applicable, will expire worthless. The Company granted to the holders of the UPO demand and “piggy back” registration rights for periods of five and seven years, respectively, from the Effective Date, including securities directly and indirectly issuable upon exercise of the UPO. Warrants DeTiger Holdings Limited (the “Former Sponsor”), agrees to transfer 1,000,000 warrants held by DeTiger in the amounts and to the transferee(s) as designated by the Seller Representative, for a purchase price payable by each Transferee of $0.50 per Warrant (the “Purchase Price”). The Purchase Price for each Warrant shall be payable by each Transferee only upon the exercise of each Warrant. As of December 31, 2018 and 2017, 9,280,323 and 9,280,323 shares of warrants were issued and outstanding, none of the warrants have been exercised.

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2018
Shareholders' Equity [Abstract]
SHAREHOLDERS' EQUITY	8. SHAREHOLDERS’ EQUITY Ordinary Shares The Company is authorized to issue unlimited ordinary shares. Holders of the Company’s ordinary shares are entitled to one vote for each share. On July 6, 2018, the Company and certain institutional investors entered into a securities purchase agreement (“Private Placement”), pursuant to which the Company agreed to sell to such investors an aggregate of 769,232 ordinary shares together with Series A warrants to purchase a total of 576,924 ordinary shares (the “Series A Warrants”), for gross proceeds of approximately US$2.0 million. Each investor will receive a Series A Warrant to purchase a number of shares equal to 75% of the number of ordinary shares the investor purchases in the offering with a warrant term of four (4) years. The purchase price for each ordinary share and the related Series A Warrants is US$2.60. The Series A Warrants have an exercise price of US$2.60. In connection with the offering, the investors also received Series B warrants with an initial face amount of 200,000 ordinary shares, which are subject to adjustment not in excess of an aggregate of 462,843 ordinary shares (the “Series B Warrants”) for nominal consideration. If on the 30th day after the closing date of the transaction (the “Adjustment Date”), the closing bid price of the Company’s ordinary shares is less than US$2.60, the investors shall have the right to exercise the Series B Warrants and the number of ordinary shares to be issued to the investors upon exercise of the Series B Warrants shall be adjusted (upward or downward, as necessary) based on the closing bid price of the Company’s ordinary shares on such date. The closing of the offering took place on July 10, 2018. On August 9, 2018, the closing bid price of the Company’s ordinary shares was US$1.29, and thus the Series B Warrant was exercised for 390,579 ordinary shares. As of December 31, 2018 and 2017, there were 25,288,003 and 23,758,817 ordinary shares issued and outstanding, respectively. Ordinary Shares Held in Escrow Upon consummation of the business combination between the Company and Adrie, an aggregate of 20 million ordinary shares were issued and 8 million of the issued ordinary shares were deposited in escrow (the “Escrow Shares”). One-third of the Escrow Shares (along with the related accrued dividends and distributions) shall be released upon the post-combination company obtaining certain specified adjusted consolidated net income targets in each of calendar years 2016, 2017 and 2018. The target adjusted consolidated net income ranging in 2016 from US$20.2 million at the bottom to US$32.0 million at the top, in 2017 from US$22.6 million at the bottom to US$38.0 million at the top, and in 2018 from US$25.6 million at the bottom to US$44.0 million at the top, and with the average adjusted consolidated net income target for the alternative earn-out payment ranging from US$23.3 million at the bottom to US$40.0 million at the top. The Company has achieved the earn-out payment requirement in 2016 thus one third of 8 million escrowed restricted shares were released in 2017. However the Company has not achieved the earn-out payment requirement in both 2018 and 2017, thus the two thirds of 8 million escrowed restricted shares were not released. Restricted Shares On September 23, 2016, the members of the Compensation Committee of China Lending Corporation have determined to issue 2,700 shares of restricted shares to 19 employees of the Company. In the event the employee’s services are terminated with the Company for any reason prior to vesting of the shares, the non-vested shares shall be forfeited by the employee. As of December 31, 2016, no restricted shares were vested or forfeited and the Company had 2,700 shares of granted and unvested restricted shares. During fiscal 2017, the company has paid common share dividends and issued 116 shares for existing shareholders. Half of the shares were vested on September 22, 2017 and the remaining half of the shares were vested on September 22, 2018. On January 20, 2017, 200 shares of restricted shares to employees were forfeited as a result of termination of services. As of December 31, 2017, the Company had 1,308 shares of granted and unvested restricted shares. On April 4, 2018, the Company forfeited 1,150 shares of restricted shares as the employees resigned from the Company. On September 18, 2018, the Company granted 370,525 shares of restricted shares to four employees and one independent director of the Company for the services provided for the past one year. These shares are vested immediately upon grant. The fair value of restricted shares is determined with reference to the fair value of the underlying shares on grant date and is recognized as expense on the grant date. Share-based compensation expense, when recognized, is charged for the consolidated income statements with the corresponding entry to additional paid-in capital. A summary of the changes in the restricted shares related to ordinary shares granted by the Company during the year ended December 31, 2018 is as follows: Number of restricted shares Weighted average grant date fair value Granted and unvested as of December 31, 2016 2,700 $ 7.90 Granted 116 7.90 Vested (1,308 ) 7.90 Forfeited (200 ) 7.90 Granted and unvested as of December 31, 2017 1,308 $ 7.90 Granted 370,525 0.85 Vested (370,683 ) 0.85 Forfeited (1,150 ) 7.90 Granted and unvested as of December 31, 2018 - $ - Preferred Shares The Company is authorized to issue unlimited preferred shares, in one or more series, with such designations, voting and other rights and preferences as may be determined from time to time by the board of directors. As of December 31, 2018 and 2017, there were 715,000 preferred shares issued and outstanding. Warrants A summary of warrants activity for the years ended December 31, 2018, 2017 and 2016 is as follows: Number of shares Weighted average life Expiration dates Balance of warrants outstanding as of December 31, 2016 9,280,323 4.52 years July 6, 2021 Balance of warrants outstanding as of December 31, 2017 9,280,323 3.52 years July 6, 2021 Grants of Series A Warrants 576,924 4 years July 9, 2022 Grants of Placement Agent Warrant 46,154 4 years July 9, 2022 Grants of Series B Warrants 390,579 0.08 years August 9, 2018 Exercise of Series B Warrants (390,579 ) Balance of warrants outstanding as of December 31, 2018 9,903,401 2.58 years Warrants (continued) Series A Warrants In connection with the private placement closed on July 10, 2018, the Company issued Series A warrants to investors to purchase a total of 576,924 ordinary shares with a warrant term of four (4) years. The Series A Warrants have an exercise price of US$2.60 per share. The Series A Warrants have customary anti-dilution protections including a “full ratchet” anti-dilution adjustment provision which are triggered in the event the Company sells or grants any additional shares of common stock, options, warrants or other securities that are convertible into common stock at a price lower than $2.60 per share. The anti-dilution adjustment provision is not triggered by certain “exempt issuances” which among other issuances, includes the issuance of shares of common stock, options or other securities to officers, employees, directors, consultants or service providers. Based on an evaluation as discussed in FASB ASC 815-15, “Embedded Derivatives” and FASB ASC 815-40-15, “Contracts in Entity’s Own Equity – Scope and Scope Exceptions,” the Company determined that the Series A Warrants were not considered indexed to its own stock because neither the occurrence of a sale of equity securities by the issuer at market nor the issuance of another equity contract with a lower strike price is an input to the fair value of a fixed-for-fixed option or forward on equity shares. As such, the Series A Warrants was classified as a liability. As of July 10, 2018 and December 31, 2018, the Company estimated fair value of the Series A Warrants at US$1,202,310 and $510,000, respectively, using the Black-Scholes valuation model, which took into consideration the underlying price of ordinary shares, a risk-free interest rate, expected term and expected volatility. As a result, the valuation of the warrant was categorized as Level 3 in accordance with ASC 820, “Fair Value Measurement”. On the July 10, 2018 and December 31, 2018, the Company estimated the fair value of Series A Warrants using the following assumption. On July 10, On December 31, Terms of warrants 48 months 42 months Exercise price 2.60 2.60 Risk free rate of interest 2.77 % 2.77 % Dividend yield 0.00 % 0.00 % Annualized volatility of underlying stock 2.03 2.29 Series B Warrants In connection with the private placement closed on July 10, 2018, the investors also received Series B warrants with an initial face amount of 200,000 ordinary shares, which are subject to adjustment not in excess of an aggregate of 462,843 ordinary shares (the “Series B Warrants”) for nominal consideration. If on the 30th day after the closing date of the transaction (the “Adjustment Date”), the closing bid price of the Company’s ordinary shares is less than US$2.60, the investors shall have the right to exercise the Series B Warrants and the number of ordinary shares to be issued to the investors upon exercise of the Series B Warrants shall be adjusted (upward or downward, as necessary) based on the closing bid price of the Company’s ordinary shares on such date. Based on an evaluation as discussed in FASB ASC 815-40-15, “Contracts in Entity’s Own Equity – Scope and Scope Exceptions,” the Company determined that the Series B Warrants were not considered indexed to its own stock because the settlement amount does not equal the difference between the fair value of a fixed number of the Company’s shares and a fixed strike price. The Company estimated its fair value of the Series B Warrants at US$504,499 using the Black-Scholes valuation model on the July 10, 2018 using the following assumption. On July 10, 2018 Terms of warrants 1 months Exercise price 0.001 Risk free rate of interest 1.88 % Dividend yield 0.00 % Annualized volatility of underlying stock 0.87 On August 9, 2018, the closing bid price of the Company’s ordinary shares was US$1.29, and thus the investors exercised the Series B Warrant for 390,579 ordinary shares at US$391. The carrying fair value of the warrant liabilities on the exercise day was US$503,847, and the fair value change in warrant liabilities for the years ended December 31, 2018 was US$652. The Company incurred a gain of US$652 upon exercise of the warrants. Placement Agent Warrants On April 6, 2018, the Company entered into a letter agreement with FT Global Capital, Inc., as exclusive placement agent (the “Placement Agent”), pursuant to which the Placement Agent has agreed to act as placement agent on a best efforts basis in connection with the above offering. In addition to the cash payments, the Company has also agreed to issue to the Placement Agent a warrant to purchase a number of ordinary shares equal to 6.0% of the aggregate number of ordinary shares sold in this offering, which warrant will have the same term as Series A Warrants, including exercise price, vesting period, antidilution terms and etc. As such, same as the classification of Series A Warrants, the Placement Agent Warrants were classified as a liability, which r As of July 10, 2018 and December 31, 2018, the Company estimated fair value of the Placement Agent Warrants Allocation of Issuance Costs In connection with the Private Placement closed on July 10, 2018, the Company incurred direct and incremental issuance costs of US$310,000. These costs were allocated to common stock, Series A Warrants and Series B Warrants in proportion to the allocation of proceeds. The issuance costs allocated to common stock were accounted for as a reduction of proceeds of the common stocks, while the issuance costs allocated to warrants were accounted for as non-operating expenses.

Loan Receivable, Net

Loan Receivable, Net	12 Months Ended
	Dec. 31, 2018
Loan Receivable, Net [Abstract]
LOAN RECEIVABLE, NET	9. LOAN RECEIVABLE, NET The interest rates on loans issued ranged between 4% ~24% for the years ended December 31, 2018 and 2017, and ranged between 17.28% ~ 24% for the year ended December 31, 2016. As of December 31, 2018 and 2017, loan receivable, net consisted of the following: December 31, 2018 December 31, 2017 Loan receivable, gross Business loans $ 108,913,922 $ 56,215,822 Personal loans 112,594,344 125,340,963 221,508,266 181,556,785 Provision for loan losses Collectively assessed (23,264 ) (99,563 ) Individually assessed (128,904,336 ) (64,195,127 ) (128,927,600 ) (64,294,690 ) Loan receivable, net $ 92,580,666 $ 117,262,095 Loan receivable – related parties, net $ 490,724 $ 1,244,739 Loan receivable – third parties, net $ 92,089,942 $ 116,017,356 Before the establishment of Zhiyuan and Zeshi in November 2018, the Company originated loans to customers located primarily in Urumqi City, Xinjiang Province. While thereafter the Company originates loans to customers located primarily in Urumqi City, Xinjiang Province, and Hangzhou, Zhejiang Province. This geographic concentration of credit exposes the Company to a higher degree of risk associated with this economic region. All loans are short-term loans that the Company has made to either business or individual customers. As of December 31, 2018 and 2017, the Company had 75 and 59 business loan customers, and 159 and 174 personal loan customers, respectively. Most loans are either guaranteed by a third party or related parties (please refer to Note 25) whose financial strength is assessed by the Company to be sufficient or secured by collateral. Provision for loan losses is estimated on a quarterly basis based on an assessment of specific evidence indicating doubtful collection, historical experience, loan balance aging and prevailing economic conditions. For the years ended December 31, 2018, 2017 and 2016, a provision of US$85,715,748, US$55,299,749 and US$ 4,650,887 were charged for the consolidated statements of operations, respectively. For the years ended December 31, 2018, 2017 and 2016, write-offs of US$14,365,469, US$nil and US$91,812 were charged against provisions, respectively. Interest on loans receivable is accrued and credited to income as earned. The Company determines a loan’s past due status by the number of days that have elapsed since a borrower has failed to make a contractual loan payment. Accrual of interest is generally discontinued when either (i) reasonable doubt exists as to the full, timely collection of interest or principal or (ii) when a loan becomes past due by more than 90 days. The following table represents the aging of loans as of December 31, 2018 by type of loan: 1-89 Days 90-179 Days Past Due 180-365 Days Past Due Over 1 year Past Due Total Current Total Business loans $ 1,856,751 $ 1,129,755 $ 27,739,900 $ 12,248,816 $ 42,975,222 $ 65,938,700 $ 108,913,922 Personal loans 174,480 14,292,196 40,137,089 56,827,383 111,431,148 1,163,196 112,594,344 $ 2,031,231 $ 15,421,951 $ 67,876,989 $ 69,076,199 $ 154,406,370 $ 67,101,896 $ 221,508,266 The following table represents the aging of loans as of December 31, 2017 by type of loan: 1-89 Days 90-179 Days Past Due 180-365 Days Past Due Over 1 year Past Due Total Current Total Business loans $ 9,976,350 $ 4,368,880 $ 507,116 $ 6,925,968 $ 21,778,314 $ 34,437,508 $ 56,215,822 Personal loans 28,303,969 30,824,416 3,777,245 940,469 63,846,099 61,494,864 125,340,963 $ 38,280,319 $ 35,193,296 $ 4,284,361 $ 7,866,437 $ 85,624,413 $ 95,932,372 $ 181,556,785 Analysis of loans by collateral The following table summarizes the Company’s loan portfolio by collateral as of December 31, 2018: Business Personal Total Guarantee backed loans $ 29,176,804 $ 36,135,657 $ 65,312,461 Pledged assets backed loans 75,665,930 74,774,960 150,440,890 Collateral backed loans 4,071,188 1,683,727 5,754,915 $ 108,913,922 $ 112,594,344 $ 221,508,266 Analysis of loans by collateral (continued) Business Personal Total Guarantee backed loans $ 36,515,140 $ 43,953,134 $ 80,468,274 Pledged assets backed loans 13,861,166 79,028,972 92,890,138 Collateral backed loans 5,839,516 2,358,857 8,198,373 $ 56,215,822 $ 125,340,963 $ 181,556,785 Guarantee Backed Loans A guaranteed loan is a loan guaranteed by a corporation or high net worth individual which includes related parties (refer to Note 25). As of December 31, 2018 and 2017, guaranteed loans make up 29.5% and 44.3% of our direct loan portfolio, respectively. Pledged Asset Backed Loans Pledged assets backed loans are loans with pledged assets. Lenders has rights of access to the pledged assets at the time the loan is made and do not need to register them with government entities to secure the loan. If the borrower defaults, we can sell the assets to recover the outstanding balance owed. For the supply chain financing involved for tire industry, the borrowers pledged with inventory and the whole sellers (certain are related parties) guarantee the repayment of loan if the borrowers defaults. Both collateral loans and pledged loans are considered secured loans. The amount of a loan that lenders provide depends on the value of the collateral pledged. Collateral Backed Loans A collateral backed loan is a loan in which the borrower puts up an asset under their ownership, possession or control, as collateral for the loan. An asset usually is land use rights, equity shares, equipment or buildings. The loan is secured against the collateral and we do not take physical possession of the collateral at the time the loan is made. We will verify ownership of the collateral and then register the collateral with the appropriate government entities to complete the secured transaction. In the event that the borrower defaults, we can then take possession of the collateral asset and sell it to recover the outstanding balance owed. If the sale proceeds of the collateral asset is not sufficient to pay off the loan in full, we will file a lawsuit against the borrower and seek judgment for the remaining balance. As of December 31, 2018 and 2017, the Company pledged US$4,966,849 and US$5,310,886 loans receivable for secured loans the Company borrowed from China Great Wall Assets Management Co. Ltd. and related parties, loan-to-pledge ratios were 292% and 289% (See Note 18), which consisted of the following: December 31, December 31, 2018 2017 Business loans $ - $ - Personal loans 4,966,849 5,310,886 Total pledged loans receivable $ 4,966,849 $ 5,310,886

Provision for Loan Losses

Provision for Loan Losses	12 Months Ended
	Dec. 31, 2018
Provision for Loan Losses [Abstract]
PROVISION FOR LOAN LOSSES	10. PROVISION FOR LOAN LOSSES The provision for loan losses is maintained at a level considered adequate to provide for losses that can be reasonably anticipated. Management performs a quarterly evaluation of the adequacy of the provision. The provision is based on the Company’s past loan loss history, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of any underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. The provision is calculated at portfolio-level since our loans portfolio is generally comprised of smaller balance homogenous loans and is collectively evaluated for impairment. For the purpose of calculating portfolio-level reserves, we have grouped our loans into two portfolio types: Business and Personal. The provision consists of the combination of a quantitative assessment component based on statistical models, a retrospective evaluation of actual loss information to loss forecasts, value of collateral and could include a qualitative component based on management judgment. In estimating the probable loss of the loan portfolio, the Company also considers qualitative factors such as current economic conditions and/or events in specific industries and geographical areas, including unemployment levels, trends in real estate values, peer comparisons, and other pertinent factors such as regulatory guidance. Finally, as appropriate, the Company also considers individual borrower circumstances and the condition and fair value of the loan collateral, if any. In addition, the Company calculates the provision amount as below: 1. General Reserve - this reserve covers potential losses due to risks related to the region of China, industry, company or types of loan. The reserve rate is determined by total loan receivable balance and to be used to cover unidentified probable loan loss. 2. Special Reserve - is fund set aside covering losses due to risks related to the region of China, industry, company or type of loans. The reserve rate could be decided based on management estimate of loan collectability. The loan portfolio did not include any loans outside of the PRC. Generally, the primary factors for the evaluation of provision for loan losses consist of business performance, financial position, cash flow and other operational performance of the debtors. Among these, cash flow of the debtors is the primary funding source for repayment for determining the provision for loan losses and any collateral, pledged asset or guarantee is considered as a secondary funding source for repayment. Besides the repayment ability and willingness to repay, the Company evaluates the provision for loan losses of collateral backed loans based on whether the fair value of the collateral if the repayment is expected to be provided by the collateral is sufficient or not. For loans with pledged assets, the net realizable value of pledged assets for pledged backed loans will be estimated to see if they have sufficient coverage on the loans. For the guarantee backed loans, the Company evaluates the provision for loan losses based on the combination of the guarantee, including the fair value and net realizable value of guarantor’s financial position, credibility, liquidity and cash flow. As of December 31, 2018, the percentage of guarantee back loans, pledged asset backed loans, and collateral backed loans were 29.5%, 67.9% and 2.6% respectively. As of December 31, 2017, the percentage of guarantee back loans, pledged asset backed loans, and collateral backed loans were 44.3%, 51.2% and 4.5% respectively. The valuation assessment of collateral and pledged assets was based on the valuation report issued by a valuation firm or the Company’s internal risk control department. The assets values were generally 50% to 60% of the fair value of collateral and pledged assets. The valuation will be updated for the loan period over one year in case of renewals and repeat customers. However, China Lending Group’s average loan term is less than 9 months, the value of the collateral and pledged assets, and guarantee backing the loans will be reviewed and monitored on a monthly basis through site visits. China Lending Group issues guarantee-backed loans in accordance with its loan management policy, and each guarantee-backed loan will undergo standard assessment procedures for willingness and ability of the guarantor to perform under its guarantee. China Lending Group accepts guarantees provided by three types of guarantors: professional guarantee companies, corporations and individuals which includes related parties (see note 25). In assessing the willingness and ability of a professional guarantee company to perform under a guarantee, the Company consider factors including its guarantee licenses, size of registered capital, corporate governance, internal audit system, risk management and compensation system, risk reserve, length of operation history especially cooperation history with China Lending Group, its default costs and other pertinent factors such as the loan size backed by guarantee over its net assets. In assessing the willingness and ability of a corporate guarantor to perform under a guarantee, the Company consider factors including nature of its businesses, size of registered capital, annual revenues, continuous profitability in the past three years, stability and adequacy of income and cash flows, clean credit history, current liabilities, willingness to accept credit monitoring by China Lending Group, its default costs and other pertinent factors such as the loan size backed by guarantee over its net assets. In assessing the willingness and ability of an individual guarantor to perform under a guarantee, the Company consider factors including their residency, whether being able to provide permanent residential addresses, marital status, occupations, legitimacy and stability of incomes, assets and liabilities, clean credit history, no criminal history, their default costs and other pertinent factors such as the loan size backed by guarantee over their net assets. As of December 31, 2018 and 2017, loan receivable of US$128,904,336 and US$64,195,127 were charged of specific reserve with specific provision rates ranging between 50%-100% and 10%-100%, respectively. While management uses the best information available to make loan loss provision evaluations, adjustments to the provision may be necessary based on changes in economic and other conditions or changes in accounting guidance. The following tables present the activity in the provision for loan losses and related recorded investment in loans receivable by classes of the loans individually and collectively evaluated for impairment as of and for the years ended December 31, 2018, 2017 and 2016: Provision for loan losses for the year ended December 31, 2018 Business Personal Total Provision for loan losses beginning balance $ 22,365,076 $ 41,929,614 $ 64,294,690 Charge-offs (9,053,190 ) (5,312,279 ) (14,365,469 ) Provisions 25,739,061 62,117,991 87,857,052 Reversals (1,571,499 ) (569,805 ) (2,141,304 ) Foreign currency translation adjustment (2,123,526 ) (4,593,843 ) (6,717,369 ) Provision for loan losses ending balance $ 35,355,922 $ 93,571,678 $ 128,927,600 Ending balance: individually evaluated for impairment $ 35,343,563 $ 93,560,773 $ 128,904,336 Ending balance: collectively evaluated for impairment $ 12,359 $ 10,905 $ 23,264 Provision for loan losses for the year ended December 31, 2017 Business Personal Total Provision for loan losses beginning balance $ 4,238,133 $ 2,188,174 $ 6,426,307 Charge-offs - - - Provisions 17,178,340 38,121,409 55,299,749 Foreign currency translation adjustment 948,603 1,620,031 2,568,634 Provision for loan losses ending balance $ 22,365,076 $ 41,929,614 $ 64,294,690 Ending balance: individually evaluated for impairment $ 22,308,497 $ 41,886,630 $ 64,195,127 Ending balance: collectively evaluated for impairment $ 56,579 $ 42,984 $ 99,563 Provision for loan losses for the year ended December 31, 2016 Business Personal Total Provision for loan losses beginning balance $1,053,579 $1,155,129 $2,208,708 Charge-offs (91,812 ) - (91,812 ) Provisions 3,492,322 1,158,565 4,650,887 Foreign currency translation adjustment (215,956 ) (125,520 ) (341,476 ) Provision for loan losses ending balance $ 4,238,133 $ 2,188,174 $ 6,426,307 Ending balance: individually evaluated for impairment $ 3,728,072 $ 1,292,699 $ 5,020,771 Ending balance: collectively evaluated for impairment $ 510,061 $ 895,475 $ 1,405,536 In June 2016, the FASB issued new accounting guidance ASU 2016-13 for recognition of credit losses on financial instruments, which is effective January 1, 2020, with early adoption permitted on January 1, 2019. The guidance introduces a new credit reserving model known as the Current Expected Credit Loss (CECL) model, which is based on expected losses, and differs significantly from the incurred loss approach used today. The CECL model requires measurement of expected credit losses not only based on historical experience and current conditions, but also by including reasonable and supportable forecasts incorporating forward-looking information and will likely result in earlier recognition of credit reserves. CECL adoption will have broad impact on the financial statements of financial services firms, which will affect key profitability and solvency measures. Some of the more notable expected changes include: - Higher loan loss reserve levels and related deferred tax assets. While different asset types will be impacted differently, the expectation is that reserve levels will generally increase across the board for all financial firms. - Increased reserve levels may lead to a reduction in capital levels. - As a result of higher reserving levels, the expectation is that CECL will reduce cyclicality in financial firms’ results, as higher reserving in “good times” will mean that less dramatic reserve increases will be loan related income (which will continue to be recognized on a periodic basis based on the effective interest method) and the related credit losses (which will be recognized up front at origination). This will make periods of loan expansion seem less profitable due to the immediate recognition of expected credit losses. Periods of stable or declining loan levels will look comparatively profitable as the income trickles in for loans, where losses had been previously recognized.

Loan Impairment

Loan Impairment	12 Months Ended
	Dec. 31, 2018
Loan Impairment [Abstract]
LOAN IMPAIRMENT	11. LOAN IMPAIRMENT A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan by loan basis for corporate and personal loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. Provision for loan losses is established for an impaired loan if its carrying value exceeds its estimated fair value. Currently, estimated fair values of substantially all of the Company’s impaired loans are measured based on the estimated fair value of the loan’s collateral which approximates to the carrying value due to the short-term nature of the loans. The Company allows a one-time loan extension based on an ancillary company policy with a period up to the original loan period, which is usually within twelve months. According to the Company’s loan management policy, granting initial one-time extension requires a new underwriting and credit evaluation. Borrowers are required to submit extension application 10 days before expiration of the original loan. Then the Company’s loan service department will investigate whether material changes have happened to the borrower’s business which may impact its repayment ability. The Company’s risk management department will reevaluate the loan. If the Company decides to grant one-time extension, an extension agreement will be executed between the borrower and the Company, plus commitment letter from guarantor to agree the loan extension and extend the guarantee duration. In evaluating the extension and underwriting new loans, China Lending Group will request that borrowers obtain guarantees from state-owned or public guarantee companies. Even though the Company allows a one-time loan extension with a period up to the original loan period, which is usually within twelve months. Such extension is not considered to be a troubled debt restructuring because the Company does not grant a concession to borrowers. The principal of the loan remains the same and the interest rate is fixed at the current interest rate at the time of extension. For the year ended December 31, 2017, 37 loans aggregating US$32.4 million were granted one-time extension, which accounted for 16.8% of total loans originated during the year ended December 31, 2017. For the year ended December 31, 2018, no loans were granted one-time extension. A loan is considered to be a troubled debt restructuring loan when that is restructured or modified for economic or legal reasons, where these conditions are present: 1) The Company grants a concession that it otherwise would not consider and 2) The borrower is having financial difficulties. Under unusual circumstance, in order to reduce the potential losses on troubled debt, the Company may consider granting concession to borrowers with financial difficulties which has significant delay or significant shortfall in amount of payments. In order to deter troubled debt restructurings, stringent scrutiny and approval from the Company’s Loan Review Committee is required prior to the granting of concession on troubled debt. The troubled debt restructuring amounts of personal loans and business loans were US$45,252,182 and US$11,336,725 as of December 31, 2017, after providing provision for loan loss amounting to US$15,397,550 and US$6,768,841, respectively. As of December 31, 2018, The troubled debt restructuring amounts of personal loans and business loans were US$nil and US$nil, after providing provision for loan loss amounting to US$nil and US$1,424,916, respectively. The sharp decrease is due to the charge off trouble debt restructuring loans as the management assessed the collection is remote. As of December 31, 2018 and 2017, there were no receivables derecognized for the real estate related investment obtained from collateral.

Property and Equipement, Net

Property and Equipement, Net	12 Months Ended
	Dec. 31, 2018
Property and Equipement, Net [Abstract]
PROPERTY AND EQUIPEMENT, NET	12. PROPERTY AND EQUIPEMENT, NET The Company’s property and equipment used to conduct day-to-day business are recorded at cost less accumulated depreciation. Depreciation expense is calculated using straight-line method over the estimated useful life below: Useful Life Years December 31, 2018 December 31, 2017 Furniture and fixtures 5 $ 14,908 $ 15,755 Vehicles 3 29,080 30,734 Electronic equipment 3 22,304 23,573 Less: accumulated depreciation (37,746 ) (23,728 ) Property and equipment, net $ 28,546 $ 46,334 Depreciation expenses totaled US$15,897, US$37,084 and US$37,448 for the years ended December 31, 2018, 2017 and 2016, respectively.

Intangible Assets, Net

Intangible Assets, Net	12 Months Ended
	Dec. 31, 2018
Intangible Assets, Net [Abstract]
INTANGIBLE ASSETS, NET	13. INTANGIBLE ASSETS, NET The Company’s intangible assets used to conduct day-to-day business are recorded at cost less accumulated amortization. Amortization expense is calculated using straight-line method over the estimated useful life below: Useful Life Years December 31, 2018 December 31, 2017 Credit rating system 10 $ 54,868 $ 57,988 Software license 10 5,021 5,306 Loan platform 10 28,233 29,839 Less: Accumulated amortization (20,551 ) (12,406 ) Intangible assets, net $ 67,571 $ 80,729 Amortization expense totaled US$9,160, US$8,009 and US$4,003 for the years ended December 31, 2018, 2017 and 2016, respectively. The following table sets forth the Company’s amortization expenses for the twelve months ending December 31 of the following years: Amortization expenses Twelve months ending December 31, 2019 $ 8,812 Twelve months ending December 31, 2020 8,812 Twelve months ending December 31, 2021 8,812 Twelve months ending December 31, 2022 8,812 Twelve months ending December 31, 2023 and thereafter 32,323 $ 67,571

Cost Method Investment

Cost Method Investment	12 Months Ended
	Dec. 31, 2018
Cost Method Investment/ Loans from a Related Party, a Cost Method Investee [Abstract]
COST METHOD INVESTMENT	14. COST METHOD INVESTMENT December 31, December 31, 2018 2017 Cost method investment - - In January 2015, the Company made a commitment to invest 5% of the paid-in capital in Xinjiang Microcredit Refinancing Co., Ltd. (“Microcredit Refinancing”). Microcredit Refinancing was a newly formed micro refinancing company in the PRC with total registered capital of RMB 1,000,000,000 (approximately $153,671,465). Such investment was accounted for under the cost method as the Company did not have significant influence over Microcredit Refinancing. On November 2017, the Company restructured its debts due to Microcredit Refinancing by offsetting its investment in Microcredit Refinancing and partial loans payable. As of the filing date, Microcredit Refinancing is not able to transfer the 5% of equity investment in Microcredit Refinancing owned by the Company to Xinjiang Kai Di Investment Co in accordance with the offset agreement due to the Company’s investment in Microcredit Refinance was pledged to a third party who has filed petition to freeze the Company’s investment in Microcredit Refinancing (see Note 16) as a guarantee for the debt owed by Ms. Qi Wen (see Note 25). As a result, the Company has determined to fully impair the cost investment at Microcredit Refinancing as of December 31, 2017 because of the uncertainty associated with the investment in Microcredit Refinancing.

Short-Term Bank Loans, Net

Short-Term Bank Loans, Net	12 Months Ended
	Dec. 31, 2018
Convertible Promissory Note/Short-Term Bank Loans, Net/Secured Loan Payable [Abstract]
SHORT-TERM BANK LOANS, NET	15. SHORT-TERM BANK LOANS, NET The following is a summary of the principal and balance of the Company’s short-term bank loans as of December 31, 2018 and 2017: Entrust Bank December 31, December 31, Lender Name name Interest rate Term 2018 2017 Urumqi Changhe Financing Guarantee Co., Ltd. (“Changhe”) Tianshan Rural Commercial Bank Fixed annual rate of 10.0% From August 9, 2016 to August 8, 2017 1,447,930 1,534,914 Urumqi Changhe Financing Guarantee Co., Ltd. Bank of Urumqi Co., Ltd Fixed annual rate of 10.0% From July 13, 2016 to July 13, 2017 1,453,996 1,536,715 Shanghai Pudong Development Bank Shanghai Pudong Development Bank Fixed annual rate of 7.0% From December 22, 2016 to December 21, 2017 - 3,534,444 Urumqi Economic Development Zone Zhengxin Financing Guarantee Co., Ltd (“Zhengxin”) Tianshan Rural Commercial Bank Fixed annual rate of 10% From January 4, 2017 to September 3, 2017 1,452,542 1,535,178 Urumqi Economic Development Zone Zhengxin Financing Guarantee Co., Ltd Tianshan Rural Commercial Bank Fixed annual rate of 10% From January 5, 2017 to September 4, 2017 725,544 766,821 Urumqi Changhe Financing Guarantee Co., Ltd. Tianshan Rural Commercial Bank Fixed annual rate of 10% From January 11, 2017 to January 10, 2018 1,453,996 1,536,715 Urumqi Economic Development Zone Zhengxin Financing Guarantee Co., Ltd Tianshan Rural Commercial Bank Fixed annual rate of 10% From April 11, 2017 to December 10, 2017 581,598 614,686 Urumqi Economic Development Zone Zhengxin Financing Guarantee Co., Ltd Tianshan Rural Commercial Bank Fixed annual rate of 10% From April 11, 2017 to April 10, 2018 868,034 922,029 7,983,640 11,981,502 Less unamortized financing cost - (11,526 ) Short-term bank loans less unamortized financing cost $ 7,983,640 $ 11,969,976 Accrued interest expense charged for the short-term bank loans was US$1,241,463, US$1,115,329 and US $580,843 for the years ended December 31, 2018, 2017 and 2016, respectively. Amortization expenses for the financing cost was US$nil, US$468,162, and US $134,692 During the year ended December 31, 2018, Changhe and Urumuqi National Economic Financing and Guarantee Co., Ltd. (“Urumuqi National Economic”) repaid on behalf of the Company the overdue bank loans of US$2,179,539 and US$1,132,663, respectively, due to Shanghai Pudong Development Bank. As a result, the Company had a balance of loan from a third party as of December 31, 2018 (see Note 17). As of December 31, 2018, all short-term bank loans from Tianshan Rural Commercial Bank and from Bank of Urumuqi Co., were overdue. The Company and the lenders are working to extend the overdue loans for one year.

Loans from a Related Party, a C

Loans from a Related Party, a Cost Method Investee	12 Months Ended
	Dec. 31, 2018
Cost Method Investment/ Loans from a Related Party, a Cost Method Investee [Abstract]
LOANS FROM A RELATED PARTY, A COST METHOD INVESTEE	16. LOANS FROM A RELATED PARTY, A COST METHOD INVESTEE The following is a summary of the Company’s loans from Xinjiang Microcredit Refinancing Co. Ltd., which is a cost method investee of the Company, as of December 31, 2018 and 2017: Lender name Interest rate Term December 31, 2018 December 31, 2017 Xinjiang Microcredit Refinancing Co. Ltd. Fixed annual rate of 12.0% From August 23, 2016 to August 22, 2017 $ 3,634,989 $ 3,841,787 Xinjiang Microcredit Refinancing Co. Ltd. Fixed annual rate of 12.0% From August 30, 2016 to November 29, 2017 2,180,993 2,305,072 Xinjiang Microcredit Refinancing Co. Ltd. Fixed annual rate of 12.0% From September 1, 2016 to November 30, 2017 1,453,996 1,536,715 Xinjiang Microcredit Refinancing Co. Ltd. Fixed annual rate of 12.0% From September 19, 2016 to March 18, 2018 7,269,978 7,683,572 Total loans from a cost method investee $ 14,539,956 $ 15,367,146 Accrued interest expense charged for the loans from the cost method investee were US$191,447, US$1,647,722, and US $1,818,656 for the years ended December 31, 2018, 2017 and 2016, respectively. Penalties for default payment of principal and interest were US$2,448,498, US$882,864 and US$nil for the years end December 31, 2018, 2017 and 2016, respectively. As of December 31, 2018 and 2017, Fenghui pledged loans receivable aggregating US$21.14 million and US$22.35 million for these loans, and Fenghui shareholder provided guarantee for these loans. (see Note 25) On August 10, 2017, Xinjiang Microcredit Refinancing Co., Ltd (or “Microcredit Refinance”) transferred the loan receivable of RMB 25,000,000 (approximately US$3,744,196) due from Feng Hui to Xinjiang Kai Di Investment Co., Ltd (or “Kai Di”). On November 17, 2017, Feng Hui entered into an agreement with Kai Di, pursuant to which Feng Hui would transfer its investment in Xinjiang Microcredit Refinancing Co., Ltd. to Kai Di, as a settlement of the loan payable of RMB 25,000,000. However due to the petitions filed by Li Yuqin and Microcredit Refinancing Co., Ltd (see Note 27), the Company’s equity investment in Microcredit Refinance was frozen by the Court and thus neither the Company’s transfer of equity investment to Kai Di nor Microcredit Refinance’s transfer of loan receivable to Kai Di was completed.

Loans from Third Parties

Loans from Third Parties	12 Months Ended
	Dec. 31, 2018
Loans from Third Parties \ Related Party Transactions and Balances [Abstract]
LOANS FROM THIRD PARTIES	17. LOANS FROM THIRD PARTIES Lender name Interest rate Term December 31, 2018 December 31, 2017 Urumqi Changhe Financing Guarantee Co., Ltd. Fixed annual rate of 7.0% Repayment on demand $ 2,179,539 $ - Urumuqi National Economic Financing and Guarantee Co., Ltd. Fixed annual rate of 7.0% Repayment on demand 1,132,663 - $ 3,312,202 - During the year ended December 31, 2018, Changhe and Urumuqi National Economic repaid on behalf of the Company the bank loans of US$2,179,539 and US$1,132,663 due to Shanghai Pudong Development Bank (“SPDB”). Accordingly the Company settled the bank loans due to SPDB and recorded a loan due to Changhe and Urumuqi National Economic, respectively. The loan was charged of interest expenses at an interest rate of 7% per annum and was repaid on demand. For the year ended December 31, 2018, the interest expenses charged on the loan due to Changhe and Urumuqi National Economic was US$238,040 and US$124,805, respectively.

Secured Loan Payable

Secured Loan Payable	12 Months Ended
	Dec. 31, 2018
Convertible Promissory Note/Short-Term Bank Loans, Net/Secured Loan Payable [Abstract]
SECURED LOAN PAYABLE	18. SECURED LOAN PAYABLE The following is a summary of the Company’s secured loan payable as of December 31, 2018 and 2017: December 31, December 31, Lender name Interest rate Term 2018 2017 China Great Wall Assets Management Co. Ltd. (“China Great Wall”) Fixed annual rate of 11.0% From October 29, 2016 to October 28, 2017 $ 14,510,876 $ 15,336,412 Hangzhou Jingyuan Investment Management Co., Ltd (“Hangzhou Jingyuan) Fixed annual rate of 1.29% From December 28, 2018 to February 27, 2019* 50,889,845 - Hangzhou Jingyuan Investment Management Co., Ltd Fixed annual rate of 6.0% From December 29, 2018 to June 28, 2019 8,723,973 - Hangzhou Jingyuan Investment Management Co., Ltd Fixed annual rate of 6.0% From December 12, 2018 to December 12, 2019 5,088,985 - $ 79,213,679 $ 15,336,412 *The loan was repaid in the month of January 2019. Secured loan due to China Great Wall As of December 31, 2018, the secured loan payable due to China Great Wall was overdue. Interest and financing expenses charged for the secured loan payable was US$nil, US$1,303,909, and US $2,442,527 The secured loan payable was guaranteed by shareholders of the Feng Hui (See Note 25), and Feng Hui pledged US$4,966,849 and US$5,310,886 loans receivable from its customers as of December 31, 2018 and 2017, respectively, to secure this loan for the lender. On January 16, 2018, the Company has received a subpoena to action from Xinjiang superior people’s court. China Great Wall Assets Management Co, Ltd has sued the Company and the guarantors to the court for the default loan and penalties. On September 18, 2018, Xinjiang Superior People’s Court adjudicated that the Company shall repay the principal, interest and penalties owed to China Great Wall Assets Management Co, Ltd, aggregating US$16.4 million (RMB 112.6 million). The Company is now in the process of appeal. The Company is in the progress of appeal. The company is actively negotiating with China Great Wall Assets Management Co, Ltd about the debt restructuring, but there is no agreement achieved. Secured loans due to Hangzhou Jingyuan During the year ended December 31, 2018, Zhiyuan borrowed loans aggregating US$64,702,803 from Hangzhou Jingyuan, a third party to support its loan services. The loans were charged of interest expenses at an interest rate of ranging between 1.29% and 6% per annum. For the year ended December 31, 2018, the interest expenses charged on the loan due to Jingyuan was US$25,118.

Other Liabilities

Other Liabilities	12 Months Ended
	Dec. 31, 2018
Other Liabilities [Abstract]
OTHER LIABILITIES	19. OTHER LIABILITIES Other liabilities as of December 31, 2018 and 2017 consisted of: December 31, 2018 December 31, 2017 Interest payable $ 10,617,533 $ 4,220,626 Accruals 142,753 97,591 Other payables 415,224 297,802 Long-term debt 4,071,188 4,337,633 $ 15,246,698 $ 8,953,652 On November 16, 2016, Feng Hui received a loan of US$2,879,865 (RMB 20,000,000) from Urumqi High-speed Railway Hub Comprehensive Development & Construction Investment Co., Ltd. with maturity date of November 15, 2021 from November 16, 2016. The interest rate is 1% and the principal is due upon maturity. On August 25, 2017, Feng Hui received a loan of US$1,229,372 from Xinjiang software park Co., Ltd. with maturity date of August 24, 2022 from August, 2017. The interest rate is 1% and the principal is due upon maturity.

Other Operating Expenses

Other Operating Expenses	12 Months Ended
	Dec. 31, 2018
Other Operating Expenses [Abstract]
OTHER OPERATING EXPENSES	20. OTHER OPERATING EXPENSES Other operating expenses for the years ended December 31, 2018, 2017 and 2016 were consisted of: For The Years Ended 2018 2017 2016 Depreciation and amortization $ 25,057 $ 45,093 $ 40,004 Legal and professional expenses 1,069,445 759,563 1,276,271 Office related expenses 489,078 949,807 1,131,255 Travel and entertainment 95,977 298,938 218,618 Total $ 1,679,557 $ 2,053,401 $ 2,666,148

Dividend Payable

Dividend Payable	12 Months Ended
	Dec. 31, 2018
Dividend Payable [Abstract]
DIVIDEND PAYABLE	21. DIVIDEND PAYABLE On January 20, 2017, the company paid 519,156 common share dividends. On March 21, 2017, the company announced a dividend of US$0.036 per ordinary share which represents an amount equal to twenty-five percent (25%) of (i) the Company’s consolidated net income for the period beginning October 1, 2016 through December 31, 2016, less (ii) the amount of dividends paid, payable or otherwise accrued as preferred dividends with respect to the Company’s Series A preferred shares for such period. On April 24, 2017, the Company has paid 129,872 common share dividends. On May 26, 2017, the Company announced a dividend of US$0.047 per ordinary share which represents an amount equal to twenty-five percent (25%) of (i) the Company’s consolidated net income for the period beginning January 1,2017 through March 31,2017, less (ii) the amount of dividends paid, payable or otherwise accrued as preferred dividends with respect to the Company’s Series A preferred shares for such period. the dividend was paid on June 23, 2017 to holders of record of the Company’s ordinary share on June 5, 2017. On June 23, 2017, the Company has paid 210,925 common share dividends. As of December 31, 2018 and 2017, there were 25,288,003 and 23,758,817 ordinary shares issued and outstanding. Dividends payable on ordinary share as of December 31, 2018 and 2017 were US$480,000 and US$480,000, respectively.

Statutory Reserve

Statutory Reserve	12 Months Ended
	Dec. 31, 2018
Statutory Reserve [Abstract]
STATUTORY RESERVE	22. STATUTORY RESERVE In accordance with PRC regulations, the subsidiaries and VIE of the Company in the PRC are required to provide a statutory reserve, which is appropriated from net income as reported in the Company’s statutory accounts. The Company is required to allocate 10% of its annual after-tax profit to the statutory reserve until such reserve has reached 50% of its respective registered capital based on the enterprise’s PRC statutory accounts. The statutory reserves can only be used for specific purposes and are not distributable as cash dividends. For the year ended December 31, 2018, the Company incurred net loss from its operations and did not provide a statutory reserve. As of December 31, 2018 and 2017, total statutory reserves were US$6,621,063 and US$6,621,063, respectively.

Taxation

Taxation	12 Months Ended
	Dec. 31, 2018
Taxation [Abstract]
TAXATION	23. TAXATION British Virgin Islands Under the current laws of the British Virgin Islands, China Lending Corporation and Adrie are not subject to tax on income or capital gain. Additionally, upon payments of dividends to the shareholders, no British Virgin Islands withholding tax will be imposed. Hong Kong Feng Hui Holding is incorporated in Hong Kong and is subject to Hong Kong Profits Tax on the taxable income as reported in its statutory financial statements adjusted in accordance with relevant Hong Kong tax laws. The applicable tax rate is 16.5% in Hong Kong. The Company did not make any provisions for Hong Kong profit tax as there were no assessable profits derived from or earned in Hong Kong since inception. Under Hong Kong tax laws, Feng Hui Holding is exempted from income tax on its foreign-derived income and there are no withholding taxed in Hong Kong on remittance of dividends. PRC Jing Kai, Ding Xin, Ding Tai, Feng Hui, Zhiyuan and Zeshi are subject to PRC Enterprise Income Tax (“EIT”) on the taxable income in accordance with the relevant PRC income tax laws. The EIT rate for companies operating in the PRC is 25%. Feng Hui is a qualified enterprise engaged in industry list of Western Development Strategy and is therefore entitled to preferential tax rate of 15% till December 31, 2020. As of December 31, 2018, income tax returns for the tax years ended December 31, 2012 through December 31, 2017 remain open for statutory examination by PRC tax authorities. The Company evaluates the level of authority for each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measures the unrecognized benefits associated with the tax positions. For the years ended December 31, 2018, 2017 and 2016, the Company had no unrecognized tax benefits. Income taxes that are attributed to the operations in the PRC consist of: For the years ended 2018 2017 2016 Income tax expense is comprised of: Current income tax $ 17,635 $ 1,869,437 $ 4,789,085 Deferred income tax expense (benefit) - 885,312 (667,747 ) Total $ 17,635 $ 2,754,749 $ 4,121,338 Deferred income taxes are primarily recognized for provision for loan losses. Deferred income tax was measured using the enacted income tax rates for the periods in which they are expected to be reversed. During the years ended December 31, 2018 and 2017, there were no income taxes attributable to the operations in Jing Kai, Ding Xin, Ding Tai and Feng Hui. As of December 31, 2018 and 2017, the Company had net operating loss carryforwards of US$5,137,726 and US$nil, respectively, which will expire in 2023. The Company reviews deferred tax assets for a valuation allowance based upon whether it is more likely than not that the deferred tax asset will be fully realized. At December 31, 2018 and 2017, full valuation allowance is provided against the deferred tax assets based upon management’s assessment as to their realization. The tax effects of temporary differences that give rise to the following approximate deferred tax assets as of December 31, 2018 and 2017 are presented below: December 31, December 31, 2018 2017 Accrued interest receivable 52,930 267,208 Accrued interest payable 1,058,637 442,258 Provision for loan losses 21,300,459 9,609,133 Accruals 22,093 20,250 Investment impairment 545,248 - Net operating losses carryforwards 787,092 - Deferred tax assets $ 23,766,459 $ 10,338,849 Valuation allowance (23,766,459 ) (10,338,849 ) Deferred tax assets, net $ - $ - The Company evaluates its valuation allowance requirements at the end of each reporting period by reviewing all available evidence, both positive and negative, and considering whether, based on the weight of that evidence, a valuation allowance is needed. When circumstances cause a change in management’s judgement about the realizability of deferred tax assets, the impact of the change on the valuation allowance is generally reflected in net loss. The future realization of the tax benefit of an existing deductible temporary difference ultimately depends on the existence of sufficient taxable income of the appropriate character within the carryforward period available under applicable tax law. Uncertain tax positions The Company evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of December 31, 2018 and 2017, the Company did not have any significant unrecognized uncertain tax positions or any unrecognized liabilities, interest or penalties associated with unrecognized tax benefit. The effective tax rates for the years ended December 31, 2018, 2017 and 2016 were (0.0)%, (5.3)% and 19.3%, respectively. The reconciliation between the effective income tax rate and the PRC statutory income tax rate of 25% is as follows: For the years ended 2018 2017 2016 PRC statutory tax rate 25.0 % 25.0 % 25.0 % Effect of preferential income tax rate (9.6 ) (9.8 ) (8.3 ) Effect of different income tax rate in other jurisdictions (0.3 ) - - Effect of non-deductible expenses (0.0 ) 0.0 0.1 Provision for DTA allowance (15.1 ) (19.1 ) 0.0 Others (0.0 ) (1.4 ) 2.5 Effective tax rate (0.0 )% (5.3 )% 19.3 % The enterprise income tax payable was as follows: December 31, December 31, 2018 2017 Income Tax Payable $ 803,650 $ 847,528

(Loss) Earnings Per Share

(Loss) Earnings Per Share	12 Months Ended
	Dec. 31, 2018
(Loss) Earnings Per Share [Abstract]
(LOSS) EARNINGS PER SHARE	24. (LOSS) EARNINGS PER SHARE The following table sets forth the computation of basic and diluted (loss) earnings per common share for the years ended December 31, 2018, 2017 and 2016, respectively: For The Years Ended December 31, 2018 2017 2016 Net (Loss) Income $ (94,126,307 ) $ (54,783,273 ) $ 17,278,404 Dividend – Convertible Redeemable Class A preferred stock (686,400 ) (686,400 ) (333,327 ) Net loss attributable to noncontrolling interests (76 ) - - Net (loss) income attributable to ordinary shareholders (94,812,783 ) (55,469,673 ) 16,945,077 Weighted-average common shares outstanding – basic 24,380,051 17,343,763 18,353,249 Weighted-average common shares outstanding – diluted 24,380,051 17,343,763 21,871,632 (Loss) Earnings per share to ordinary shareholders – Basic $ (3.89 ) $ (3.20 ) $ 0.92 (Loss) Earnings per share to ordinary shareholders – Diluted $ (3.89 ) $ (3.20 ) $ 0.77 Basic loss per share to the ordinary shareholders are computed by dividing the net loss attributable to the ordinary shareholders by the weighted average number of common shares outstanding during the year. Diluted loss per share is the same as basic loss per share due to the lack of dilutive items in the Company for the years ended December 31, 2018 and 2017. The number of warrants, Class A preferred shares are omitted excluded from the computation as the anti-dilutive effect. Diluted earnings per share includes the weighted average dilutive effect of Class A Convertible Redeemable Preferred Shares, Unit Purchase Option, Convertible Promissory Note and Non-vested Restricted Shares to employees for the year ended December 31, 2016. The effect of potential release of escrowed 2,666,667 shares has been included in the calculation of diluted weighted-average common shares outstanding based on the Company’s estimate on the fact that the Company could meet the earned-out target for the year December 31, 2016.

Related Party Transactions and

Related Party Transactions and Balances	12 Months Ended
	Dec. 31, 2018
Loans from Third Parties \ Related Party Transactions and Balances [Abstract]
RELATED PARTY TRANSACTIONS AND BALANCES	25. RELATED PARTY TRANSACTIONS AND BALANCES A. Loans to related parties- Loans paid to related parties of the Company, and outstanding balances were as follows: Loans paid to Balance of Loans Receivable from Related Parties During the years ended As of As of December 31, 2018 2017 2018 2017 Related companies of non-controlling investors of Feng Hui $ - $ 8,083,119 $ 490,724 $ 1,244,739 Interest income derived from the above loans to related parties were US$nil, US$293,395, US$491,080 for the years ended December 31, 2018, 2017 and 2016, respectively. These loans were made in the normal course of the Company’s lending operation. The interest rates on the above loans ranged between 12%-17.4% for the years ended December 31, 2018 and 2017, and ranged between 17.4%~24% for the year ended December 31, 2016. For the years ended December 31, 2018, 2017 and 2016, a provision for loan losses of US$714,145, US$2,322,898 and US$nil was provided for the loans receivable from related parties. B. Loans received from a cost investment investee Lender name Interest rate Term December 31, 2018 December 31, 2017 Xinjiang Microcredit Refinancing Co. Ltd. Fixed annual rate of 12.0% From August 23, 2016 to August 22, 2017 $ 3,634,989 $ 3,841,787 Xinjiang Microcredit Refinancing Co. Ltd. Fixed annual rate of 12.0% From August 30, 2016 to November 29, 2017 2,180,993 2,305,072 Xinjiang Microcredit Refinancing Co. Ltd. Fixed annual rate of 12.0% From September 1, 2016 to November 30, 2017 1,453,996 1,536,715 Xinjiang Microcredit Refinancing Co. Ltd. Fixed annual rate of 12.0% From September 19, 2016 to March 18, 2018 7,269,978 7,683,572 Total loans from a cost method investee $ 14,539,956 $ 15,367,146 Interest expenses charged for the loans from the cost method investee were US$191,447, US$1,647,722 and US$ 1,818,656 for the years ended December 31, 2018, 2017 and 2016, respectively. Penalties for default payment of principal and interest were US$2,448,498, US$882,864 and US$nil for the years end December 31, 2018, 2017, and 2016, respectively. C. Guarantees - Guarantees of the loans receivable provided by the Company’s shareholders and related parties of the Company, and outstanding balances were as follows: For the years ended As of December 31, As of December 31, Shareholders and related parties 2018 2017 2018 2017 Non-controlling shareholders of the Company $ - $ 109,441,744 $ - $ 18,967,669 Related companies of a non-controlling shareholder of the Company 1,964,844 109,414,083 45,395,196 51,510,675 $ 1,964,844 $ 218,855,827 $ 45,395,196 $ 70,478,344 - Guarantees of the bank loans provided by the Company’s shareholders and related parties of the Company were as follows: Bank name Aggregated Principal As of December 31, 2018 Shareholders and related parties Tianshan Rural Commercial Bank $ 7,996,976 $ 6,529,644 General manager of the Company and a non-controlling shareholder of the Company Bank of Urumqi Co., Ltd 1,453,996 1,453,996 General manager of the Company and a non-controlling shareholder of the Company $ 9,450,972 $ 7,983,640 Bank name Aggregated Principal As of December 31, 2017 Shareholders and related parties Tianshan Rural Commercial Bank $ 8,451,931 $ 6,910,343 General manager of the Company and a non-controlling shareholder of the Company Bank of Urumqi Co., Ltd 1,536,715 1,536,715 General manager of the Company and a non-controlling shareholder of the Company Shanghai Pudong Development Bank 3,534,444 3,534,444 General manager of the Company and non-controlling shareholders of the Company $ 13,523,090 $ 11,981,502 - Guarantees of the secured loans and loans As of and for the year ended December 31, 2018: Lender name Principal As of December 31, 2018 Shareholders and related parties China Great Wall Assets Management Co. Ltd. $ 14,510,876 $ 14,510,876 Non-controlling shareholders of the Company Xinjiang Microcredit Refinancing Co., Ltd. 14,539,956 14,539,956 Non-controlling shareholders of the Company Hangzhou Jingyuan Investment Management Co., Ltd 59,613,818 59,613,818 Non-controlling shareholders of the Company $ 88,664,650 $ 88,664,650 As of and for the year ended December 31, 2017: Lender name Principal As of December 31, 2017 Shareholders and related parties China Great Wall Assets Management Co. Ltd. $ 15,336,412 $ 15,336,412 Non-controlling shareholders of the Company Xinjiang Microcredit Refinancing Co., Ltd. 15,367,146 15,367,146 Non-controlling shareholders of the Company $ 30,703,558 $ 30,703,558

Concentration of Credit Risks

Concentration of Credit Risks	12 Months Ended
	Dec. 31, 2018
Risks/Concentration of Credit Risks [Abstract]
CONCENTRATION OF CREDIT RISKS	26. CONCENTRATION OF CREDIT RISKS As of December 31, 2018 and 2017, the Company held cash of US$1,311,749 and US$1,220,380, respectively, that was uninsured by the government authority. To limit exposure to credit risk relating to deposits, the Company primarily places cash deposits only with large financial institutions in the PRC with acceptable credit ratings. The Company’s operations are carried out in the PRC. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environments in the PRC as well as by the general state of the PRC’s economy. The business may be influenced by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion and remittance abroad, and rates and methods of taxation, among other things. As of December 31, 2018, the loan receivable due from one customer accounted for 23% of total loan receivable. As of December 31, 2017, no customer accounted for more than 10% of total loan balance.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	27. COMMITMENTS AND CONTINGENCIES Legal proceedings For the year ended December 31, 2018, the Company was involved in five lawsuits with its loan customers for the aggregated claim of delinquent balances of US$2.95 million, and in which the Company is a defendant. The amount which the Company is being sued for delinquent balances owned to two third parties is approximately US$4.64 million (RMB 30.7 million). In addition, during the year ended December 31, 2018, Xinjiang Superior People’s Court adjudicated that the Company shall repay the principal, interest and penalties owed to China Great Wall Assets Management Co, Ltd, aggregating US$16.4 million (RMB 112.6 million). The Company is now in the process of appeal. The company is actively negotiating with China Great Wall Assets Management Co, Ltd about the debt restructuring, but there is no agreement achieved.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	28. SUBSEQUENT EVENTS 1) Letter of intention with Zhejiang Lixin Enterprise Management Holding Co., Ltd. (“Lixin”) In January 2019, the Company signed a framework agreement (the “Agreement”) to acquire up to 80.4592% of equity interest in Zhejiang Lixin Enterprise Management Holding Co., Ltd. (“Lixin”), a diversified financial services company which the Company currently holds a 1% equity interest following a transaction completed in the same month Pursuant to such framework agreement, the Company will acquire up to 80.4592% of equity interest in Lixin from six selling shareholders of Lixin by issuing new shares and/or using cash on hand. The proposed transaction is expected to be consummated through multiple closings with the first closing by June 30, 2019, subject to further review and approval of the Company’s Board of Directors and/or shareholders, if needed, as well as other customary closing conditions. There is no guarantee that the transaction contemplated under the framework agreement will be consummated as planned or at all. The Company expects that the acquisition of equity interests in Lixin, if consummated, has the potential of transforming the Company into a profitable and well diversified financial services company with geographical outreach well beyond the Xinjiang Uyghur Autonomous Region. 2) Approval for disposition of Xin Quan In April 2019, the Board of Directors unanimously approved the disposition of Xin Quan. As of the date of disposition, Xin Quan was not engaged in any operations, nor it had any net assets.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Basis of presentation	(a) Basis of presentation The consolidated financial statements of the Company and its subsidiaries and VIE are prepared and presented in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”).
Basis of consolidation	(b) Basis of consolidation The consolidated financial statements include the accounts of the Company and include the assets, liabilities, revenues and expenses of all wholly owned subsidiary’s VIEs over which the Company exercises control and, when applicable, entities for which the Company has a controlling financial interest or is the primary beneficiary. All inter-company accounts and transactions have been eliminated in consolidation.
Cash and cash equivalents	(c) Cash and cash equivalents Cash and cash equivalents consist of bank deposits with original maturities of three months or less, all of which are unrestricted as to withdrawal and uninsured. Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash accounts in a financial institution, which at times, may exceed the U.S. Federal depository insurance coverage of $250,000, or other limits of protection if held in financial institutions outside of the U.S., such as Government securities coverage of HK$500,000. The Company has not experienced losses on these accounts and management believes the Company is not exposed to significant risks on such accounts.
Loan receivable, net	(d) Loan receivable, net Loans receivable primarily represent loan amounts due from customers. Loans receivable are recorded at unpaid principal balances net of provision that reflects the Company’s best estimate of the amounts that will not be collected. The loans receivable portfolio consists of business and personal loans (See Note 9).
Provision for loan losses	(e) Provision for loan losses The provision for loan losses is increased by charges to income and decreased by charge offs (net of recoveries). Recoveries represent subsequent collection of amounts previously charged-off. The increase in provision for loan losses is the netting effect of “reversal” and “provision” for both business and personal loans. If the ending balance of the provision for loan losses after any charge offs (net of recoveries) is less than the beginning balance, it will be recorded as a “reversal”; if it is larger, it will be recorded as a “provision” in the provision for loan loss. The netting amount of the “reversal” and the “provision” is presented in the statements of operations and comprehensive income. The provision consists of specific and general components. The specific component consists of the amount of impairment related to loans that have been evaluated on an individual basis, and the general component consists of the amount of impairment related to loans that have been evaluated on a collective basis. Loans are considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts when due according to the contractual terms of the loan agreement. Loans for which the terms have been modified resulting in a concession, and for which the borrower is experiencing financial difficulties, are considered troubled debt restructurings (“TDRs”). The Company recognizes a charge-off when management determines that full repayment of a loan is not probable. The primary factor in making that determination is the potential outcome of a lawsuit against the delinquent debtor. The Company will recognize a charge-off when the Company loses contact with the delinquent borrower for more than nine months or when the court rules against the Company to seize the collateral asset of the delinquent debt from either the guarantor or borrower. In addition, when the recoverability of the delinquent debt is highly unlikely, the senior management team will go through a stringent procedure to approve a charge-off. Management estimates the provision balance required using past loan loss experience, the nature and volume of the portfolio, information about specific borrower situations and estimated collateral values, economic conditions, and other factors. Allocations of the provision may be made for specific loans, but the entire provision is available for any loan that, in management’s judgment, should be charged-off. The provision for loan losses is maintained at a level believed to be reasonable by management to absorb probable losses inherent in the portfolio as of each balance sheet date. The provision is based on factors such as the size and current risk characteristics of the portfolio, an assessment of individual loans and actual loss, delinquency, and/or risk rating record within the portfolio (Note 10). The Company evaluates its provision for loan losses on a quarterly basis or more often as necessary.
Interest and fee receivables	(f) Interest and fee receivables Interest and fee receivables are accrued and credited to income as earned but not received. The Company determines a loan past due status by the number of days that have elapsed since a borrower has failed to make a contractual interest or principal payment. Accrual of interest is generally discontinued when either (i) reasonable doubt exists as to the full, timely collection of interest or principal or (ii) when a loan interest or principal becomes past due by more than 90 days. Additionally, any previously accrued but uncollected interest is reversed. Subsequent recognition of income occurs only to the extent payment is received, subject to management’s assessment of the collectability of the remaining interest and principal. Loans are generally restored to an accrual status when it is no longer delinquent and collectability of interest and principal is no longer in doubt and past due interest is recognized at that time.
Cost method investment	(g) Cost method investment The Company carries its cost method investments at cost, recognized income as any dividend declared from distributions of the investee’s earnings if any and only adjusts for other-than-temporary impairment and distributions of earnings as the Company’s equity interest in the investee is less than 20%. Management regularly evaluates the investment for impairment based on performance and financial position of the investee as well as other evidence of market value. Such evaluation includes, but is not limited to, reviewing the investee’s cash position, recent financing, projected and historical financial performance, cash flow forecasts and financing needs. For the years ended December 31, 2018, 2017 and 2016, the Company provided impairment losses of US$nil, US$3,698,868 and US$nil on cost method investments.
Property and equipment	(h) Property and equipment The property and equipment are stated at cost less accumulated depreciation. The depreciation is computed on the straight-line method over the estimated useful lives of the assets. Estimated useful lives of property and equipment are stated in Note 12. The Company eliminates the cost and related accumulated depreciation of assets sold or otherwise retired from the accounts and includes any gain or loss in the statement of income. The Company charges maintenance, repairs and minor renewals directly to expenses as incurred, major additions and betterment to equipment are capitalized.
Impairment of long-lived assets	(i) Impairment of long-lived assets The Company’s definite long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable through the estimated undiscounted cash flows expected to result from the use and eventual disposition of the assets. Whenever any such impairment exists, an impairment loss will be recognized for the amount by which the carrying value exceeds the fair value. The Company tests long-lived assets, including property and equipment and finite lived intangible assets, for impairment test when there is triggering event. Only indefinite lived assets have to be tested annually or more frequently upon the occurrence of an event or when circumstances indicate that the net carrying amount is greater than its fair value. Assets are grouped and evaluated at the lowest level for their identifiable cash flows that are largely independent of the cash flows of other groups of assets. The Company considers historical performance and future estimated results in its evaluation of potential impairment and then compares the carrying amount of the asset to the future estimated cash flows expected to result from the use of the asset. If the carrying amount of the asset exceeds estimated expected undiscounted future cash flows, the Company measures the amount of impairment by comparing the carrying amount of the asset to its fair value. The estimation of fair value is generally measured by discounting expected future cash flows as the rate the Company utilizes to evaluate potential investments. The Company estimates fair value based on the information available in making whatever estimates, judgments and projections are considered necessary. There were no impairment losses for the years ended December 31, 2018, 2017 and 2016.
Intangible assets	(j) Intangible assets Intangible assets are amortized over their useful lives in a manner that best reflects their economic benefit, which may include straight line or accelerated methods of amortization. Intangible assets are reviewed for impairment annually and whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company does not have indefinite-lived intangible assets.
Warrant liabilities	(k) Warrant liabilities In connection with the issuances of common stocks, the Company may issue options or warrants to purchase common stock. In certain circumstances, these options or warrants may be classified as liabilities, rather than as equity. Warrants classified as equity are initially recorded at fair value and subsequent changes in fair value are not recognized as long as the warrants continue to be classified as equity. Warrants classified as liabilities are initially recorded at fair value with gains and losses arising from changes in fair value recognized in the consolidated statements of operations during the period in which such instruments are outstanding.
Fair values of financial instruments	(l) Fair values of financial instruments Disclosure is required for fair value information of financial instruments, whether or not recognized in the balance sheets, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instruments. Certain financial instruments and all nonfinancial assets and liabilities are excluded from disclosure requirements. Accordingly, the aggregate fair value amounts do not represent the underlying value of the Company. Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments. Level 3 inputs to the valuation methodology are unobservable and significant to the fair value. The fair value guidance describes three main approaches to measure the fair value of assets and liabilities: (1) market approach, (2) income approach and (3) cost approach. The market approach uses prices and other relevant information generated from market transactions involving identical or comparable assets or liabilities. The income approach uses valuation techniques to convert future amounts to a single present value amount. The measurement is based on the value indicated by current market expectations about those future amounts. The cost approach is based on the amount that would currently be required to replace an asset. When available, the Company uses quoted market prices to determine the fair value of an asset or liability. If quoted market prices are not available, the Group will measure fair value using valuation techniques that use, when possible, current market-based or independently sourced market parameters, such as interest rates and currency rates. As of December 31, 2018 and 2017, financial instruments of the Company were primarily comprised of cash, loans receivable, interest and fees receivable, other receivables, short-term bank loans, loans from a cost investment investee, loan from a third party and secured loans, taxes payable, convertible redeemable preferred shares, dividends payable, other payable and accrued expenses, which were carried at cost on the balance sheets, which approximated their fair values because of their generally short maturities. Warrant liabilities The inputs used to measure the estimated fair value of warrant liabilities are classified as Level 3 fair value measurement due to the significance of unobservable inputs using company-specific information. The valuation methodology used to estimate the fair value of warrant liabilities is discussed in Note 8. As of December 31, 2018, the Company’s warrant liabilities was comprised of Series A Warrants relating to a private placement closed in July 2018, and the warrants issued to the agent for the private placement (Note 8), at the fair value of $510,000 and US$40,800, respectively.
Foreign currency translation and transactions	(m) Foreign currency translation and transactions The reporting currency of China Lending is United States Dollars (“$”), which is also the functional currency. The Feng Hui Holding and PRC subsidiaries and VIE maintain their books and records in its local currency, the Hong Kong Dollars (“HKD”) and Renminbi Yuan (“RMB”) respectively, which are their functional currencies as being the primary currency of the economic environment in which these entities operate. Transactions in foreign currencies other than functional currencies are initially recorded at the functional currency rate ruling at the date of transaction. Any differences between the initially recorded amount and the settlement amount are recorded as a gain or loss on foreign currency transaction in the statements of income. Monetary assets and liabilities denominated in foreign currency are translated at the functional currency rate of exchange ruling at the balance sheet date. Any differences are taken to profit or loss as a gain or loss on foreign currency translation in the statements of income. The Company translated the assets and liabilities into US dollars using the rate of exchange prevailing at the applicable balance sheet date and the statements of income and cash flows at an average rate during the reporting period, as set forth in the following tables. Adjustments resulting from the translation are recorded in shareholders’ equity as part of accumulated other comprehensive loss. December 31, 2018 December 31, 2017 Balance sheet items, except for equity accounts 6.8776 6.5074 For the Years Ended 2018 2017 2016 Items in the statements of operations and comprehensive (loss) income, and statements of cash flows 6.6163 6.7588 6.6441 The PRC government imposes significant exchange restrictions on fund transfers out of the PRC that are not related to business operations. These restrictions have not had a material impact on the Company because it has not engaged in any significant transactions that are subject to the restrictions.
Use of estimates and assumptions	(n) Use of estimates and assumptions The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. On an ongoing basis, management reviews these estimates using the currently available information. Changes in facts and circumstances may cause the Company to revise its estimates. Significant accounting estimates reflected in the financial statements include: (i) the provision for loan losses; (ii) accrual of estimated liabilities; (iii) contingencies and litigation; (iv) assumptions impacting the valuation of ordinary shares, share option, restricted shares and warrant liabilities, and (v) deferred tax assets and liabilities.
Revenue recognition	(o) Revenue recognition The Company adopted ASC 606, Revenue from Contracts with Customers (“ASC 606”) on January 1, 2018, using the modified retrospective approach. ASC 606 establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. The Company has assessed the impact of the guidance by reviewing its existing customer contracts and current accounting policies and practices to identify differences that will result from applying the new requirements, including the evaluation of its performance obligations, transaction price, customer payments, transfer of control and principal versus agent considerations. Based on the assessment, the Company concluded that there was no change to the timing and pattern of revenue recognition for its current revenue streams in scope of ASC 606 and therefore there was no material changes to the Company’s consolidated financial statements upon adoption of ASC 606. Pursuant to ASC606-10-15-2, the interest income generated by the Company are scoped out of ASC606. As of December 31, 2018, the Company had outstanding interest and commission related contract amount US$988,981, which were expected to be completed within 12 months after December 31, 2018. Interest income on loans – Interest on loan receivables is accrued monthly in accordance with their contractual terms and recorded in accrued interest receivable. The Company does not charge prepayment penalties. Additionally, any previously accrued but uncollected interest is reversed and accrual is discontinued, when either (i) reasonable doubt exists as to the full, timely collection of interest or principal or (ii) when a loan becomes past due by more than 90 days. Management and assessment services on loans – Service fees for management and assessment services are paid by customers for the management and assessment services provided during the loan period. The Company recognizes the revenue over the loan period using a time-based measure of progress.
Non-interest expenses	(p) Non-interest expenses Non-interest expenses primarily consist of salary and benefits for employees, traveling cost, entertainment expenses, depreciation of equipment, office rental expenses, professional service fee, office supply, etc., and are expensed as incurred.
Employee benefits	(q) Employee benefits The full-time employees of the Company are entitled to staff welfare benefits including medical care, housing fund, pension benefits, unemployment insurance and other welfare, which are government mandated defined contribution plans. The Company is required to accrue for these benefits based on certain percentages of the employees’ respective salaries, subject to certain ceilings, in accordance with the relevant PRC regulations, and make cash contributions to the state-sponsored plans out of the amounts accrued. Total expenses for the plans were US$82,186, US$145,554, and $ 178,547 for the years ended December 31, 2018, 2017 and 2016, respectively.
Loss per share	(r) Loss per share Basic loss per share is computed by dividing loss available to stockholders by the weighted average shares of common stock outstanding during the period. Diluted loss per share takes into account the potential dilution that could occur if securities or other contracts to issue common stock were exercised and converted into common stock. As of December 31, 2018 and 2017, The number of Class A convertible redeemable preferred shares, unit purchase option, convertible promissory note, non-vested restricted shares and warrants are omitted excluded from the computation as the anti-dilutive effect.
Income taxes	(s) Income taxes The Company accounts for income taxes in accordance with the U.S. GAAP for income taxes. Under the asset and liability method as required by this accounting standard, the recognition of deferred income tax liabilities and assets for the expected future tax consequences of temporary differences between the income tax basis and financial reporting basis of assets and liabilities. Provision for income taxes consists of taxes currently due plus deferred taxes. The charge for taxation is based on the results for the year as adjusted for items which are non-assessable or disallowed. It is calculated using tax rates that have been enacted or substantively enacted by the balance sheet date. Deferred tax is accounted for using the balance sheet liability method in respect of temporary differences arising from differences between the carrying amount of assets and liabilities in the financial statements and the corresponding tax basis. Deferred tax assets are recognized to the extent that it is probable that taxable income to be utilized with prior net operating loss carried forward. Deferred tax is calculated using tax rates that are expected to apply to the period when the asset is realized or the liability is settled. Deferred tax is charged or credited in the income statement, except when it is related to items credited or charged directly to equity. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Current income taxes are provided for in accordance with the laws of the relevant taxing authorities. An uncertain tax position is recognized as a benefit only if it is “more likely than not” that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. The Company did not have unrecognized uncertain tax positions or any unrecognized liabilities, interest or penalties associated with unrecognized tax benefit as of December 31, 2018 and 2017. As of December 31, 2018, income tax returns for the tax years ended December 31, 2012 through December 31, 2017 remain open for statutory examination by PRC tax authorities.
Comprehensive loss	(t) Comprehensive loss Comprehensive loss includes net loss and foreign currency adjustments. Comprehensive loss is reported in the statements of operations and comprehensive loss. Accumulated other comprehensive loss, as presented on the consolidated balance sheets are the cumulative foreign currency translation adjustments.
Commitment and contingencies	(u) Commitment and contingencies In the normal course of business, the Company is subject to loss contingencies, such as legal proceedings and claims arising out of its business, that cover a wide range of matters, including, among others, government investigations and tax matters. The Company records accruals for such loss contingencies when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated.
Noncontrolling interests	(v) Noncontrolling interests For the Company’s non-wholly owned subsidiaries, a noncontrolling interest is recognized to reflect portion of equity that is not attributable, directly or indirectly, to the Company. The cumulative results of operations attributable to noncontrolling interests are also recorded as noncontrolling interests in the Company’s consolidated balance sheets and consolidated statements of operations and comprehensive loss. Cash flows related to transactions with noncontrolling interests are presented under financing activities in the consolidated statements of cash flows.
Share-based compensation	(w) Share-based compensation Share-based awards granted to the Company’s employees are measured at fair value on grant date and share-based compensation expense is recognized (i) immediately at the grant date if no vesting conditions are required, or (ii) using the accelerated attribution method, net of estimated forfeitures, over the requisite service period. The fair value of share options is determined using the Black-Scholes valuation model and the fair value of restricted shares and restricted share units (“RSUs”) is determined with reference to the fair value of the underlying shares. Share-based awards granted to non-employees are initially measured at fair value on the grant date and remeasured at each reporting date through the vesting date. Such value is recognized as expense over the respective service period, net of estimated forfeitures. Share-based compensation expense, when recognized, is charged for the consolidated income statements with the corresponding entry to additional paid-in capital. At each date of measurement, the Company reviews internal and external sources of information to assist in the estimation of various attributes to determine the fair value of the share-based awards granted by the Company, including but not limited to the fair value of the underlying shares, expected life, expected volatility and expected forfeiture rates. The Company is required to consider many factors and make certain assumptions during this assessment. If any of the assumptions used to determine the fair value of the share-based awards changes significantly, share-based compensation expense may differ materially in the future from that recorded in the current reporting period. The Company recognizes the impact of any revisions to the original forfeiture rate assumptions in the consolidated income statements, with a corresponding adjustment to equity.
Recently issued accounting standards	(x) Recently issued accounting standards In December 2018, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2018-20, Leases (Topic 842): Narrow-Scope Improvements for Lessors. The amendments clarify or simplify certain narrow aspects of ASC 842 for lessors. Specifically: 1) The amendments provide an accounting policy election whereby lessors may choose not to evaluate whether certain sales taxes and other similar taxes are lessor costs or lessee costs. Instead, lessors making the election will account for those costs as if they are lessee costs, i.e., through the balance sheet instead of the income statement. 2) Lessors will exclude from variable payments, and therefore revenue, lessor costs paid by lessees directly to third parties. Conversely, lessors will include in variable payments, and therefore revenue, such costs that are paid by the lessor and reimbursed by the lessee, and 3) Regarding contracts with lease and nonlease components, lessors will allocate certain variable payments to the lease and nonlease components when the changes in facts and circumstances on which the variable payment is based occur. The amount of variable payments allocated to the lease components will be recognized in profit or loss, while the amount of variable payments allocated to nonlease components will be recognized in accordance with other GAAP. If an entity has not yet adopted the new leases standard, it must adopt ASU 2018-20 concurrently with the leases standard. If an entity has previously adopted the new leases standard, specific transition requirements apply. T In October 2018, the FASB issued ASU2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities. ASU 2018-17 expands the accounting alternative that allows private companies the election not to apply the variable interest entity guidance to qualifying common control leasing arrangements. ASU 2018-17 broadens the scope of the private company alternative to include all common control arrangements that meet specific criteria (not just leasing arrangements). ASU 2018-17 also eliminates the requirement that entities consider indirect interests held through related parties under common control in their entirety when assessing whether a decision-making fee is a variable interest. Instead, the reporting entity will consider such indirect interests on a proportionate basis. The amendments are effective for public business entities for fiscal years ending after December 15, 2019. Early adoption is permitted. The Company is currently assessing the timing and impact of adopting the updated provisions to its consolidated financial statements. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement - Disclosure Framework (Topic 820). The updated guidance improves the disclosure requirements on fair value measurements. The updated guidance if effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for any removed or modified disclosures. The Company is currently assessing the timing and impact of adopting the updated provisions to its consolidated financial statements. In June 2018, the FASB issued ASU 2018-07, which simplifies several aspects of the accounting for nonemployee share-based payment transactions resulting from expanding the scope of Topic 718, Compensation-Stock Compensation, to include share-based payment transactions for acquiring goods and services from non-employees. Some of the areas for simplification apply only to nonpublic entities. The amendments specify that Topic 718 applies to all share-based payment transactions in which a grantor acquires goods or services to be used or consumed in a grantor’s own operations by issuing share-based payment awards. The amendments also clarify that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers. The amendments in this Update are effective for public business entities for fiscal years beginning after December 15, 2018, including interim periods within that fiscal year. Early adoption is permitted. We do not plan to early adopt this ASU. The Company is currently evaluating the potential impacts of this updated guidance, and do not expect the adoption of this guidance to have a material impact on its consolidated financial statements and related disclosures. In March 2018, the Financial Accounting Standards Board issued Accounting Standards Update No. 2018-05: “Income Taxes (Topic 805)” In February 2018, the FASB issued ASU No. 2018-02, “Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income” (“ASU 2018-02”), which provides financial statement preparers with an option to reclassify stranded tax effects within accumulated other comprehensive income to retained earnings in each period in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act (or portion thereof) is recorded. The amendments in this ASU are effective for all entities for fiscal years beginning after December 15, 2018, and interim periods within those fiscal years. Early adoption of ASU 2018-02 is permitted, including adoption in any interim period for the public business entities for reporting periods for which financial statements have not yet been issued. The amendments in this ASU should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Cuts and Jobs Act is recognized. The Company does not expect that the adoption of this guidance will have a material impact on its consolidated financial statements. In July 2017, the FASB issued ASU No. 2017-11, “Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Non-controlling Interests with a Scope Exception” (“ASU 2017-11”), which addresses the complexity of accounting for certain financial instruments with down round features. Down round features are features of certain equity-linked instruments (or embedded features) that result in the strike price being reduced on the basis of the pricing of future equity offerings. Current accounting guidance creates cost and complexity for entities that issue financial instruments (such as warrants and convertible instruments) with down round features that require fair value measurement of the entire instrument or conversion option. The amendments in Part I of this ASU are effective for public business entities for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2018. The Company is currently evaluating the impact of the adoption of ASU 2017-11 on its consolidated financial statements. In June 2016, the FASB issued new accounting guidance ASU 2016-13 for recognition of credit losses on financial instruments, which is effective January 1, 2020, with early adoption permitted on January 1, 2019. The guidance introduces a new credit reserving model known as the Current Expected Credit Loss (CECL) model, which is based on expected losses, and differs significantly from the incurred loss approach used today. The CECL model requires measurement of expected credit losses not only based on historical experience and current conditions, but also by including reasonable and supportable forecasts incorporating forward-looking information and will likely result in earlier recognition of credit reserves. The Company does not intend to adopt the new standard early and is currently evaluating the impact the new guidance will have on its financial position, results of operations and cash flows; however, it is expected that the new CECL model will alter the assumptions used in calculating credit losses on loans, among other financial instruments, and may result in material changes to the Company’s credit reserves. In February 2016, the FASB issued ASU 2016-02, Amendments to the ASC 842 Leases. This update requires the lessee to recognize the assets and liability (the lease liability) arising from operating leases on the balance sheet for the lease term. When measuring assets and liabilities arising from a lease, a lessee (and a lessor) should include payments to be made in optional periods only if the lessee is reasonably certain to exercise an option to extend the lease or not to exercise an option to terminate the lease. Within twelve months or less lease term, a lessee is permitted to make an accounting policy election not to recognize lease assets and liabilities. If a lessee makes this election, it should recognize lease expense on a straight-line basis over the lease term. In transition, this update will be effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company does not expect that the adoption of this guidance will have a material impact on its consolidated financial statements. The Company does not believe other recently issued but not yet effective accounting standards, if currently adopted, would have a material effect would have a material effect on the consolidated financial position, statements of operations and cash flows.
Recently adopted accounting standards	(y) Recently adopted accounting standards In January 2016, the FASB issued ASU 2016-01, Financial Instruments — Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities, to enhance the reporting model for financial instruments to provide users of financial statements with more decision-useful information. The update requires equity investments (except those accounted for under the equity method or those that result in consolidation of the investee) to be measured at fair value with changes in fair value recognized in net income. It eliminated the requirement for public entities to disclose the method(s) and significant assumptions used to estimate the fair value that is required to be disclosed for financial instruments measured at amortized cost on the balance sheet. For public entities, the ASU is effective for the fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The adoption of this guidance did not have a material impact on its consolidated financial statements. On November 22, 2017, the FASB ASU No. 2017-14, “Income Statement—Reporting Comprehensive Income (Topic 220), Revenue Recognition Topic 605), and Revenue from Contracts with Customers (Topic 606): Amendments to SEC Paragraphs Pursuant to Staff Accounting Bulletin No. 116 and SEC Release 33-10403.” The ASU amends various paragraphs in ASC 220, Income Statement — Reporting Comprehensive Income; ASC 605, Revenue Recognition; and ASC 606, Revenue From Contracts With Customers, that contain SEC guidance. The amendments include superseding ASC 605-10-S25-1 (SAB Topic 13) as a result of SEC Staff Accounting Bulletin No. 116 and adding ASC 606-10-S25-1 as a result of SEC Release No. 33-10403. The adoption of this guidance did not have a material impact on the Company’s consolidated financial statements. The Company has considered all new accounting pronouncements and has concluded that there are no new pronouncements that may have a material impact on results of operations, financial condition, or cash flows, based on current information.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2018
Summary of Significant Accounting Policies [Abstract]
Schedule of foreign currency translation and transactions	December 31, 2018 December 31, 2017 Balance sheet items, except for equity accounts 6.8776 6.5074 For the Years Ended 2018 2017 2016 Items in the statements of operations and comprehensive (loss) income, and statements of cash flows 6.6163 6.7588 6.6441

Risks (Tables)

Risks (Tables)	12 Months Ended
	Dec. 31, 2018
Risks/Concentration of Credit Risks [Abstract]
Schedule of industry concentration risk	Loan receivable as of December 31, 2018 Interest income for the year ended December 31, 2018 Tire supply chain financing $ 79,604,804 $ - Trade and service $ 55,090,515 $ 156,126 Construction and decoration $ 50,889,845 $ 7,455 Percentage Percentage Tire supply chain financing 35.9 % 0 % Trade and service 24.9 % 59.2 % Construction and decoration 23.0 % 2.8 % Loan receivable as of December 31, 2017 Interest income for the year ended December 31, 2017 Tire supply chain financing $ 84,133,590 $ 7,767,344 Trade and service $ 57,927,749 $ 6,231,634 Construction and decoration $ - $ - Percentage Percentage Tire supply chain financing 46.3 % 47.0 % Trade and service 31.9 % 37.7 % Construction and decoration - -

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2018
Schedule of restricted shares	Number of restricted shares Weighted average grant date fair value Granted and unvested as of December 31, 2016 2,700 $ 7.90 Granted 116 7.90 Vested (1,308 ) 7.90 Forfeited (200 ) 7.90 Granted and unvested as of December 31, 2017 1,308 $ 7.90 Granted 370,525 0.85 Vested (370,683 ) 0.85 Forfeited (1,150 ) 7.90 Granted and unvested as of December 31, 2018 - $ -
Summary of warrants activity	Number of shares Weighted average life Expiration dates Balance of warrants outstanding as of December 31, 2016 9,280,323 4.52 years July 6, 2021 Balance of warrants outstanding as of December 31, 2017 9,280,323 3.52 years July 6, 2021 Grants of Series A Warrants 576,924 4 years July 9, 2022 Grants of Placement Agent Warrant 46,154 4 years July 9, 2022 Grants of Series B Warrants 390,579 0.08 years August 9, 2018 Exercise of Series B Warrants (390,579 ) Balance of warrants outstanding as of December 31, 2018 9,903,401 2.58 years
Series A Warrants [Member]
Schedule of assumptions used to value stock options granted using a Black-Scholes model	On July 10, On December 31, Terms of warrants 48 months 42 months Exercise price 2.60 2.60 Risk free rate of interest 2.77 % 2.77 % Dividend yield 0.00 % 0.00 % Annualized volatility of underlying stock 2.03 2.29
Series B Warrants [Member]
Schedule of assumptions used to value stock options granted using a Black-Scholes model	On July 10, 2018 Terms of warrants 1 months Exercise price 0.001 Risk free rate of interest 1.88 % Dividend yield 0.00 % Annualized volatility of underlying stock 0.87

Loan Receivable, Net (Tables)

Loan Receivable, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Loan Receivable, Net [Abstract]
Schedule of loans receivable	December 31, 2018 December 31, 2017 Loan receivable, gross Business loans $ 108,913,922 $ 56,215,822 Personal loans 112,594,344 125,340,963 221,508,266 181,556,785 Provision for loan losses Collectively assessed (23,264 ) (99,563 ) Individually assessed (128,904,336 ) (64,195,127 ) (128,927,600 ) (64,294,690 ) Loan receivable, net $ 92,580,666 $ 117,262,095 Loan receivable – related parties, net $ 490,724 $ 1,244,739 Loan receivable – third parties, net $ 92,089,942 $ 116,017,356
Schedule of aging of loans	The following table represents the aging of loans as of December 31, 2018 by type of loan: 1-89 Days 90-179 Days Past Due 180-365 Days Past Due Over 1 year Past Due Total Current Total Business loans $ 1,856,751 $ 1,129,755 $ 27,739,900 $ 12,248,816 $ 42,975,222 $ 65,938,700 $ 108,913,922 Personal loans 174,480 14,292,196 40,137,089 56,827,383 111,431,148 1,163,196 112,594,344 $ 2,031,231 $ 15,421,951 $ 67,876,989 $ 69,076,199 $ 154,406,370 $ 67,101,896 $ 221,508,266 The following table represents the aging of loans as of December 31, 2017 by type of loan: 1-89 Days 90-179 Days Past Due 180-365 Days Past Due Over 1 year Past Due Total Current Total Business loans $ 9,976,350 $ 4,368,880 $ 507,116 $ 6,925,968 $ 21,778,314 $ 34,437,508 $ 56,215,822 Personal loans 28,303,969 30,824,416 3,777,245 940,469 63,846,099 61,494,864 125,340,963 $ 38,280,319 $ 35,193,296 $ 4,284,361 $ 7,866,437 $ 85,624,413 $ 95,932,372 $ 181,556,785
Summary of the company's loan portfolio by collateral	The following table summarizes the Company’s loan portfolio by collateral as of December 31, 2018: Business Personal Total Guarantee backed loans $ 29,176,804 $ 36,135,657 $ 65,312,461 Pledged assets backed loans 75,665,930 74,774,960 150,440,890 Collateral backed loans 4,071,188 1,683,727 5,754,915 $ 108,913,922 $ 112,594,344 $ 221,508,266 The following table summarizes the Company’s loan portfolio by collateral as of December 31, 2017: Business Personal Total Guarantee backed loans $ 36,515,140 $ 43,953,134 $ 80,468,274 Pledged assets backed loans 13,861,166 79,028,972 92,890,138 Collateral backed loans 5,839,516 2,358,857 8,198,373 $ 56,215,822 $ 125,340,963 $ 181,556,785
Schedule of gross loans receivable for loans	December 31, December 31, 2018 2017 Business loans $ - $ - Personal loans 4,966,849 5,310,886 Total pledged loans receivable $ 4,966,849 $ 5,310,886

Provision for Loan Losses (Tabl

Provision for Loan Losses (Tables)	12 Months Ended
	Dec. 31, 2018
Provision for Loan Losses [Abstract]
Schedule of provision for loan losses	Business Personal Total Provision for loan losses beginning balance $ 22,365,076 $ 41,929,614 $ 64,294,690 Charge-offs (9,053,190 ) (5,312,279 ) (14,365,469 ) Provisions 25,739,061 62,117,991 87,857,052 Reversals (1,571,499 ) (569,805 ) (2,141,304 ) Foreign currency translation adjustment (2,123,526 ) (4,593,843 ) (6,717,369 ) Provision for loan losses ending balance $ 35,355,922 $ 93,571,678 $ 128,927,600 Ending balance: individually evaluated for impairment $ 35,343,563 $ 93,560,773 $ 128,904,336 Ending balance: collectively evaluated for impairment $ 12,359 $ 10,905 $ 23,264 Business Personal Total Provision for loan losses beginning balance $ 4,238,133 $ 2,188,174 $ 6,426,307 Charge-offs - - - Provisions 17,178,340 38,121,409 55,299,749 Foreign currency translation adjustment 948,603 1,620,031 2,568,634 Provision for loan losses ending balance $ 22,365,076 $ 41,929,614 $ 64,294,690 Ending balance: individually evaluated for impairment $ 22,308,497 $ 41,886,630 $ 64,195,127 Ending balance: collectively evaluated for impairment $ 56,579 $ 42,984 $ 99,563 Business Personal Total Provision for loan losses beginning balance $1,053,579 $1,155,129 $2,208,708 Charge-offs (91,812 ) - (91,812 ) Provisions 3,492,322 1,158,565 4,650,887 Foreign currency translation adjustment (215,956 ) (125,520 ) (341,476 ) Provision for loan losses ending balance $ 4,238,133 $ 2,188,174 $ 6,426,307 Ending balance: individually evaluated for impairment $ 3,728,072 $ 1,292,699 $ 5,020,771 Ending balance: collectively evaluated for impairment $ 510,061 $ 895,475 $ 1,405,536

Property and Equipement, Net (T

Property and Equipement, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Property and Equipement, Net [Abstract]
Schedule of property and equipment	Useful Life Years December 31, 2018 December 31, 2017 Furniture and fixtures 5 $ 14,908 $ 15,755 Vehicles 3 29,080 30,734 Electronic equipment 3 22,304 23,573 Less: accumulated depreciation (37,746 ) (23,728 ) Property and equipment, net $ 28,546 $ 46,334

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Intangible Assets, Net [Abstract]
Summary of intangible assets net	Useful Life Years December 31, 2018 December 31, 2017 Credit rating system 10 $ 54,868 $ 57,988 Software license 10 5,021 5,306 Loan platform 10 28,233 29,839 Less: Accumulated amortization (20,551 ) (12,406 ) Intangible assets, net $ 67,571 $ 80,729
Schedule of amortization expenses	Amortization expenses Twelve months ending December 31, 2019 $ 8,812 Twelve months ending December 31, 2020 8,812 Twelve months ending December 31, 2021 8,812 Twelve months ending December 31, 2022 8,812 Twelve months ending December 31, 2023 and thereafter 32,323 $ 67,571

Cost Method Investment (Tables)

Cost Method Investment (Tables)	12 Months Ended
	Dec. 31, 2018
Cost Method Investment/ Loans from a Related Party, a Cost Method Investee [Abstract]
Schedule of cost method investment	December 31, December 31, 2018 2017 Cost method investment - -

Short-Term Bank Loans, Net (Tab

Short-Term Bank Loans, Net (Tables)	12 Months Ended
	Dec. 31, 2018
Convertible Promissory Note/Short-Term Bank Loans, Net/Secured Loan Payable [Abstract]
Schedule of short-term bank loans	Entrust Bank December 31, December 31, Lender Name name Interest rate Term 2018 2017 Urumqi Changhe Financing Guarantee Co., Ltd. (“Changhe”) Tianshan Rural Commercial Bank Fixed annual rate of 10.0% From August 9, 2016 to August 8, 2017 1,447,930 1,534,914 Urumqi Changhe Financing Guarantee Co., Ltd. Bank of Urumqi Co., Ltd Fixed annual rate of 10.0% From July 13, 2016 to July 13, 2017 1,453,996 1,536,715 Shanghai Pudong Development Bank Shanghai Pudong Development Bank Fixed annual rate of 7.0% From December 22, 2016 to December 21, 2017 - 3,534,444 Urumqi Economic Development Zone Zhengxin Financing Guarantee Co., Ltd (“Zhengxin”) Tianshan Rural Commercial Bank Fixed annual rate of 10% From January 4, 2017 to September 3, 2017 1,452,542 1,535,178 Urumqi Economic Development Zone Zhengxin Financing Guarantee Co., Ltd Tianshan Rural Commercial Bank Fixed annual rate of 10% From January 5, 2017 to September 4, 2017 725,544 766,821 Urumqi Changhe Financing Guarantee Co., Ltd. Tianshan Rural Commercial Bank Fixed annual rate of 10% From January 11, 2017 to January 10, 2018 1,453,996 1,536,715 Urumqi Economic Development Zone Zhengxin Financing Guarantee Co., Ltd Tianshan Rural Commercial Bank Fixed annual rate of 10% From April 11, 2017 to December 10, 2017 581,598 614,686 Urumqi Economic Development Zone Zhengxin Financing Guarantee Co., Ltd Tianshan Rural Commercial Bank Fixed annual rate of 10% From April 11, 2017 to April 10, 2018 868,034 922,029 7,983,640 11,981,502 Less unamortized financing cost - (11,526 ) Short-term bank loans less unamortized financing cost $ 7,983,640 $ 11,969,976

Loans from a Related Party, a_2

Loans from a Related Party, a Cost Method Investee (Tables)	12 Months Ended
	Dec. 31, 2018
Cost Method Investment/ Loans from a Related Party, a Cost Method Investee [Abstract]
Schedule of loans from a cost method investee	Lender name Interest rate Term December 31, 2018 December 31, 2017 Xinjiang Microcredit Refinancing Co. Ltd. Fixed annual rate of 12.0% From August 23, 2016 to August 22, 2017 $ 3,634,989 $ 3,841,787 Xinjiang Microcredit Refinancing Co. Ltd. Fixed annual rate of 12.0% From August 30, 2016 to November 29, 2017 2,180,993 2,305,072 Xinjiang Microcredit Refinancing Co. Ltd. Fixed annual rate of 12.0% From September 1, 2016 to November 30, 2017 1,453,996 1,536,715 Xinjiang Microcredit Refinancing Co. Ltd. Fixed annual rate of 12.0% From September 19, 2016 to March 18, 2018 7,269,978 7,683,572 Total loans from a cost method investee $ 14,539,956 $ 15,367,146

Loans from Third Parties (Table

Loans from Third Parties (Tables)	12 Months Ended
	Dec. 31, 2018
Loans from Third Parties \ Related Party Transactions and Balances [Abstract]
Schedule of loans from third parties	Lender name Interest rate Term December 31, 2018 December 31, 2017 Urumqi Changhe Financing Guarantee Co., Ltd. Fixed annual rate of 7.0% Repayment on demand $ 2,179,539 $ - Urumuqi National Economic Financing and Guarantee Co., Ltd. Fixed annual rate of 7.0% Repayment on demand 1,132,663 - $ 3,312,202 -

Secured Loan Payable (Tables)

Secured Loan Payable (Tables)	12 Months Ended
	Dec. 31, 2018
Convertible Promissory Note/Short-Term Bank Loans, Net/Secured Loan Payable [Abstract]
Schedule of secured loans	December 31, December 31, Lender name Interest rate Term 2018 2017 China Great Wall Assets Management Co. Ltd. (“China Great Wall”) Fixed annual rate of 11.0% From October 29, 2016 to October 28, 2017 $ 14,510,876 $ 15,336,412 Hangzhou Jingyuan Investment Management Co., Ltd (“Hangzhou Jingyuan) Fixed annual rate of 1.29% From December 28, 2018 to February 27, 2019* 50,889,845 - Hangzhou Jingyuan Investment Management Co., Ltd Fixed annual rate of 6.0% From December 29, 2018 to June 28, 2019 8,723,973 - Hangzhou Jingyuan Investment Management Co., Ltd Fixed annual rate of 6.0% From December 12, 2018 to December 12, 2019 5,088,985 - $ 79,213,679 $ 15,336,412 *The loan was repaid in the month of January 2019.

Other Liabilities (Tables)

Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2018
Other Liabilities [Abstract]
Schedule of other liabilities	December 31, 2018 December 31, 2017 Interest payable $ 10,617,533 $ 4,220,626 Accruals 142,753 97,591 Other payables 415,224 297,802 Long-term debt 4,071,188 4,337,633 $ 15,246,698 $ 8,953,652

Other Operating Expenses (Table

Other Operating Expenses (Tables)	12 Months Ended
	Dec. 31, 2018
Other Operating Expenses [Abstract]
Schedule of other operating expense	For The Years Ended 2018 2017 2016 Depreciation and amortization $ 25,057 $ 45,093 $ 40,004 Legal and professional expenses 1,069,445 759,563 1,276,271 Office related expenses 489,078 949,807 1,131,255 Travel and entertainment 95,977 298,938 218,618 Total $ 1,679,557 $ 2,053,401 $ 2,666,148

Taxation (Tables)

Taxation (Tables)	12 Months Ended
	Dec. 31, 2018
Taxation [Abstract]
Schedule of income tax expense	For the years ended 2018 2017 2016 Income tax expense is comprised of: Current income tax $ 17,635 $ 1,869,437 $ 4,789,085 Deferred income tax expense (benefit) - 885,312 (667,747 ) Total $ 17,635 $ 2,754,749 $ 4,121,338
Schedule of deferred tax assets and liabilities	December 31, December 31, 2018 2017 Accrued interest receivable 52,930 267,208 Accrued interest payable 1,058,637 442,258 Provision for loan losses 21,300,459 9,609,133 Accruals 22,093 20,250 Investment impairment 545,248 - Net operating losses carryforwards 787,092 - Deferred tax assets $ 23,766,459 $ 10,338,849 Valuation allowance (23,766,459 ) (10,338,849 ) Deferred tax assets, net $ - $ -
Schedule of effective income tax rate and PRC statutory income tax	For the years ended 2018 2017 2016 PRC statutory tax rate 25.0 % 25.0 % 25.0 % Effect of preferential income tax rate (9.6 ) (9.8 ) (8.3 ) Effect of different income tax rate in other jurisdictions (0.3 ) - - Effect of non-deductible expenses (0.0 ) 0.0 0.1 Provision for DTA allowance (15.1 ) (19.1 ) 0.0 Others (0.0 ) (1.4 ) 2.5 Effective tax rate (0.0 )% (5.3 )% 19.3 %
Schedule of income tax payable	December 31, December 31, 2018 2017 Income Tax Payable $ 803,650 $ 847,528

(Loss) Earnings Per Share (Tabl

(Loss) Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2018
(Loss) Earnings Per Share [Abstract]
Schedule of computation of basic and diluted (loss) earnings per common share	For The Years Ended 2018 2017 2016 Net (Loss) Income $ (94,126,307 ) $ (54,783,273 ) $ 17,278,404 Dividend – Convertible Redeemable Class A preferred stock (686,400 ) (686,400 ) (333,327 ) Net loss attributable to noncontrolling interests (76 ) - - Net (loss) income allocated to ordinary shareholders (94,812,783 ) (55,469,673 ) 16,945,077 Weighted-average common shares outstanding – basic 24,380,051 17,343,763 18,353,249 Weighted-average common shares outstanding – diluted 24,380,051 17,343,763 21,871,632 (Loss) Earnings per share to ordinary shareholders – Basic $ (3.89 ) $ (3.20 ) $ 0.92 (Loss) Earnings per share to ordinary shareholders – Diluted $ (3.89 ) $ (3.20 ) $ 0.77

Related Party Transactions an_2

Related Party Transactions and Balances (Tables)	12 Months Ended
	Dec. 31, 2018
Loans from Third Parties \ Related Party Transactions and Balances [Abstract]
Schedule of loans to related parties	Loans paid to Balance of Loans Receivable from Related Parties During the years ended As of As of December 31, 2018 2017 2018 2017 Related companies of non-controlling investors of Feng Hui $ - $ 8,083,119 $ 490,724 $ 1,244,739
Schedule of loans received from a cost investment investee	Lender name Interest rate Term December 31, 2018 December 31, 2017 Xinjiang Microcredit Refinancing Co. Ltd. Fixed annual rate of 12.0% From August 23, 2016 to August 22, 2017 $ 3,634,989 $ 3,841,787 Xinjiang Microcredit Refinancing Co. Ltd. Fixed annual rate of 12.0% From August 30, 2016 to November 29, 2017 2,180,993 2,305,072 Xinjiang Microcredit Refinancing Co. Ltd. Fixed annual rate of 12.0% From September 1, 2016 to November 30, 2017 1,453,996 1,536,715 Xinjiang Microcredit Refinancing Co. Ltd. Fixed annual rate of 12.0% From September 19, 2016 to March 18, 2018 7,269,978 7,683,572 Total loans from a cost method investee $ 14,539,956 $ 15,367,146
Schedule of guarantees loan	For the years ended As of December 31, As of December 31, Shareholders and related parties 2018 2017 2018 2017 Non-controlling shareholders of the Company $ - $ 109,441,744 $ - $ 18,967,669 Related companies of a non-controlling shareholder of the Company 1,964,844 109,414,083 45,395,196 51,510,675 $ 1,964,844 $ 218,855,827 $ 45,395,196 $ 70,478,344
Schedule of amount due from a related party	Bank name Aggregated Principal As of December 31, 2018 Shareholders and related parties Tianshan Rural Commercial Bank $ 7,996,976 $ 6,529,644 General manager of the Company and a non-controlling shareholder of the Company Bank of Urumqi Co., Ltd 1,453,996 1,453,996 General manager of the Company and a non-controlling shareholder of the Company $ 9,450,972 $ 7,983,640 Bank name Aggregated Principal As of December 31, 2017 Shareholders and related parties Tianshan Rural Commercial Bank $ 8,451,931 $ 6,910,343 General manager of the Company and a non-controlling shareholder of the Company Bank of Urumqi Co., Ltd 1,536,715 1,536,715 General manager of the Company and a non-controlling shareholder of the Company Shanghai Pudong Development Bank 3,534,444 3,534,444 General manager of the Company and non-controlling shareholders of the Company $ 13,523,090 $ 11,981,502
Schedule of guarantees of the secured loans	Lender name Principal As of December 31, 2018 Shareholders and related parties China Great Wall Assets Management Co. Ltd. $ 14,510,876 $ 14,510,876 Non-controlling shareholders of the Company Xinjiang Microcredit Refinancing Co., Ltd. 14,539,956 14,539,956 Non-controlling shareholders of the Company Hangzhou Jingyuan Investment Management Co., Ltd 59,613,818 59,613,818 Non-controlling shareholders of the Company $ 88,664,650 $ 88,664,650 Lender name Principal As of December 31, 2017 Shareholders and related parties China Great Wall Assets Management Co. Ltd. $ 15,336,412 $ 15,336,412 Non-controlling shareholders of the Company Xinjiang Microcredit Refinancing Co., Ltd. 15,367,146 15,367,146 Non-controlling shareholders of the Company $ 30,703,558 $ 30,703,558

Reclassification (Details)

Reclassification (Details) - Loan Receivable From Third Parties [Member]	12 Months Ended
	Dec. 31, 2016USD ($)
Reclassification (Textual)
Loan Receivable From Related Parties	$ 2,109,780
Interest And Fee On Loans From Third Parties	$ 491,080

Organization and Nature of Op_2

Organization and Nature of Operation (Details)	Dec. 19, 2016USD ($)	Jul. 06, 2016USD ($)shares	May 14, 2015USD ($)	Nov. 19, 2018CNY (¥)	Jan. 24, 2017USD ($)	May 20, 2015USD ($)	Dec. 31, 2018USD ($)Customersshares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)shares
Organization and Principal Activities (Textual)
Ordinary shares, issued | shares							25,288,003	23,758,817
Escrow shares | shares									2,666,667
Disbursed loan amount									$ 15,050,946
Number of customers | Customers							1
Jing Kai [Member]
Organization and Principal Activities (Textual)
Registered capital			$ 80,000,000
Ding Xin [Member]
Organization and Principal Activities (Textual)
Registered capital						$ 1,000,000
Ding Tai [Member]
Organization and Principal Activities (Textual)
Registered capital	$ 30,000,000
Xin Quan [Member]
Organization and Principal Activities (Textual)
Registered capital					$ 30,000,000
Xin Quan [Member] | Maximum [Member]
Organization and Principal Activities (Textual)
Registered capital							$ 50,000,000
Adrie Global Holdings Limited [Member]
Organization and Principal Activities (Textual)
All outstanding interests of Adrie for a purchase price		$ 200,000,000
Ordinary shares, issued | shares		20,000,000
Escrow shares | shares		8,000,000
Zhiyuan [Member]
Organization and Principal Activities (Textual)
Registered capital | ¥				¥ 30,000,000
Disbursed loan amount							$ 64,700,000
Number of customers | Customers							4
Zhiyuan [Member] | Ding Xin [Member]
Organization and Principal Activities (Textual)
Percentage of owned interest				99.00%
Zhiyuan [Member] | Third Party [Member]
Organization and Principal Activities (Textual)
Percentage of owned interest				1.00%
Zeshi [Member]
Organization and Principal Activities (Textual)
Registered capital | ¥				¥ 51,000,000
Zeshi [Member] | Ding Xin [Member]
Organization and Principal Activities (Textual)
Percentage of owned interest				1.96%
Zeshi [Member] | Ding Tai [Member]
Organization and Principal Activities (Textual)
Percentage of owned interest				98.04%

Going Concern (Details)

Going Concern (Details)	Jul. 10, 2018USD ($)$ / shares	Dec. 31, 2018USD ($)Customers	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Going Concern (Textual)
Retained earnings (deficit)		$ (136,620,068)	$ (41,807,285)
Negative net asset		(36,000,181)	57,783,220	$ 104,255,820	$ 103,369,854
Cash		1,311,749	1,220,380	4,496,588	$ 6,732,601
Total liabilities		122,016,184	52,870,922
Disbursed loan amount				15,050,946
Number of customers | Customers		1
Incurred operating loss		$ (94,126,307)	(54,783,273)	17,278,404
Negative operating cash flow		(2,199,042)	$ 9,897,820	$ 23,428,675
Net of issuance costs	$ 1,690,000
Share price | $ / shares	$ 2.60
Zhiyuan [Member]
Going Concern (Textual)
Disbursed loan amount		$ 64,700,000
Number of customers | Customers		4

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Summary of Significant Accounting Policies [Abstract]
Balance sheet items, except for equity accounts	6.8776	6.5074
Items in the statements of operations and comprehensive (loss) income, and statements of cash flows	6.6163	6.7588	6.6441

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details Textual)	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2018HKD ($)
Summary of Significant Accounting Policies (Textual)
Property and equipment, description	The property and equipment are stated at cost less accumulated depreciation. The depreciation is computed on the straight-line method over the estimated useful lives of the assets.
U.S. Federal depository insurance coverage	$ 250,000
Government securities coverage				$ 500,000
Cost method investment, description	The Company carries its cost method investments at cost, recognized income as any dividend declared from distributions of the investee's earnings if any and only adjusts for other-than-temporary impairment and distributions of earnings as the Company's equity interest in the investee is less than 20%.
Revenue recognition arrangements	The Company does not charge prepayment penalties. Additionally, any previously accrued but uncollected interest is reversed and accrual is discontinued, when either (i) reasonable doubt exists as to the full, timely collection of interest or principal or (ii) when a loan becomes past due by more than 90 days.
Investment impairment		$ 3,698,868
Total expenses	82,186	$ 145,554	$ 178,547
Fair value of series A warrants issued	510,000
Fair value of placement agent warrants	40,800
Contract amount	$ 988,981

Risks (Details)

Risks (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Concentration Risk [Line Items]
Interest income percentage	23.00%	10.00%
Tire Supply chain financing [Member]
Concentration Risk [Line Items]
Loan receivable	$ 79,604,804	$ 84,133,590
Loan receivable percentage	35.90%	46.30%
Interest income		$ 7,767,344
Interest income percentage	0.00%	47.00%
Trade and service [Member]
Concentration Risk [Line Items]
Loan receivable	$ 55,090,515	$ 57,927,749
Loan receivable percentage	24.90%	31.90%
Interest income	$ 156,126	$ 6,231,634
Interest income percentage	59.20%	37.70%
Construction and decoration [Member]
Concentration Risk [Line Items]
Loan receivable	$ 50,889,845
Loan receivable percentage	23.00%
Interest income	$ 7,455
Interest income percentage	2.80%

Risks (Details Textual)

Risks (Details Textual)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Risks (Textual)
Percentage of risks	Analysis for industry concentration over 10%.	Analysis for industry concentration over 10%.

Redeemable Convertible Prefer_2

Redeemable Convertible Preferred Shares (Details) - USD ($)	Jul. 06, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Redeemable Convertible Preferred Shares (Textual)
Gross proceeds private placement		$ 1,190,000
Dividend - convertible redeemable preferred stock		686,400	686,400	$ 333,327
Outstanding balance Class A Preferred value		$ 9,652,527	$ 8,966,127
Convertible Redeemable Class A Preferred Shares [Member]
Redeemable Convertible Preferred Shares (Textual)
Preferred shares issued	715,000	715,000	715,000
Preferred shares, par value
Annual dividend percentage	8.00%
Gross proceeds private placement	$ 8,580,000
Mandatorily redeemable price	$ 12
Exceeds after closing of business combination	The Class A preferred shares are automatically convertible on the date on which the average closing price of the Company's ordinary shares for three consecutive trading days, that is equal to or exceeds US$16.00, provided that such date is after the closing of the Business Combination.
Dividend - convertible redeemable preferred stock		$ 686,400	$ 686,400
Outstanding balance Class A Preferred value		$ 9,652,527	$ 8,966,127
Shares issued for conversion, percentage		80.00%

Public Offering (Details)

Public Offering (Details) - USD ($)	Jul. 06, 2016	Jul. 05, 2016	May 30, 2016	Oct. 14, 2014	Oct. 06, 2014	Dec. 31, 2018	Dec. 31, 2017	Jul. 10, 2018
Public Offering (Textual)
Sale of stock, price per share								$ 2.60
Ordinary shares issued, shares						25,288,003	23,758,817
Warrant price, per share						$ 0.50
Underwriting Agreement [Member]
Public Offering (Textual)
Percentage of underwriting discount						3.25%
Underwriter fees						$ 2,229,520
Aggregate value of unit purchase option						$ 100
Unit purchase option						600,000
Share price per share						$ 11.75
Number of shares in business combination						660,000
Number of shares issued for the rights to business combination						60,000
Cash		$ 1,500,000
Convertible promissory note		$ 250,000
Ordinary shares issued, shares		34,300
Ordinary shares issued		$ 343,000
Shares issued, price per share		$ 10
Initial Business Combination [Member]
Public Offering (Textual)
Public offering unit, description				Each Right entitles the holder to receive one-tenth (1/10) of a Share upon consummation of an Initial Business Combination. Each Warrant entitles the holder to purchase one-half of one ordinary share at a price of $12.00 per full share commencing on the later of the Company's completion of its Initial Business Combination or 12 months from December 31, 2014, the effective date of the registration statement relating to the Public Offering (the "Effective Date"), and expiring five years from the completion of the Company's Initial Business Combination.
Warrant [Member]
Public Offering (Textual)
Trading period, description				Shareholders must exercise Warrants in multiples of two Warrants, at a price of $12.00 per full share, subject to adjustment, to validly exercise the Warrants. The Company may redeem the Warrants at a price of $0.01 per Warrant upon 30 days' notice, only in the event that the last sale price of the ordinary shares is at least $18.00 per share for any 20 trading days within a 30-trading day period ("30-Day Trading Period") ending on the third day prior to the date on which notice of redemption is given, provided there is a current registration statement in effect with respect to the ordinary shares underlying such Warrants commencing five business days prior to the 30-Day Trading Period and continuing each day thereafter until the date of redemption.
Warrant issuable to purchase of ordinary shares						600,000
Shares purchased through warrants						300,000
Warrant [Member] | DeTiger [Member]
Public Offering (Textual)
Agrees to transfer warrants						1,000,000
Warrant price, per share						$ 0.50
Warrants issued and outstanding						9,280,323	9,280,323
UPO [Member]
Public Offering (Textual)
Fair value of unit purchase option						$ 100
Fair value of unit purchase option approximately						1,669,000
Fair value of unit purchase price option, Per unit						$ 2.782
Expected volatility						35.00%
Risk-free interest rate						1.73%
Expected life						5 years
Public Offering [Member]
Public Offering (Textual)
Sale of units during the period					6,000,000
Sale of stock, price per share					$ 10
Redeemed public shareholders	1,544,138		5,255,657
Over-Allotment option [Member]
Public Offering (Textual)
Sale of units during the period				860,063
Sale of stock, price per share				$ 10

Shareholders' Equity (Details)

Shareholders' Equity (Details) - Restricted Stock [Member] - $ / shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance of warrants outstanding /Number of Granted and unvested restricted shares, Beginning Balance	1,250	2,700
Number of restricted shares, Granted	370,525	116
Number of restricted shares, Vested	(370,683)	(1,308)
Number of restricted shares, Forfeited	(1,150)	(200)
Balance of warrants outstanding /Number of restricted shares Granted and unvested, Ending Balance		1,250
Weighted average grant date fair value Granted and unvested, Beginning Balance	$ 7.90	$ 7.90
Weighted average grant date fair value, Granted	0.85	7.90
Weighted average grant date fair value, Vested	0.85	7.90
Weighted average grant date fair value, Forfeited	7.90	7.90
Weighted average grant date fair value Granted and unvested, Ending Balance		$ 7.90

Shareholders' Equity (Details 1

Shareholders' Equity (Details 1) - shares	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Warrant [Member]
Balance of warrants outstanding /Number of Granted and unvested restricted shares, Beginning Balance	9,280,323
Number of shares, Exercise	(390,579)
Balance of warrants outstanding /Number of restricted shares Granted and unvested, Ending Balance	9,903,401	9,280,323
Weighted average life, Balance of warrants outstanding	3 years 6 months 7 days
Weighted average life, Ending balance of warrants outstanding	2 years 6 months 29 days	4 years 6 months 7 days
Balance of warrants outstanding, Expiration dates	July 6, 2021	July 6, 2021
Series A Warrant [Member]
Number of shares, Grants	576,924
Grants, Weighted average life	4 years
Grants, Expiration dates	July 9, 2022
Series B Warrant [Member]
Number of shares, Grants	390,579
Grants, Weighted average life	29 days
Grants, Expiration dates	August 9, 2018
Placement Agent Warrant [Member]
Number of shares, Grants	46,154
Grants, Weighted average life	4 years
Grants, Expiration dates	July 9, 2022

Shareholders' Equity (Details 2

Shareholders' Equity (Details 2) - $ / shares	Jul. 10, 2018	Dec. 31, 2018
Series A Warrants [Member]
Terms of warrants	48 months	42 months
Exercise price	$ 2.60	$ 2.60
Risk free rate of interest	2.77%	2.77%
Dividend yield	0.00%	0.00%
Annualized volatility of underlying stock	2.03%	2.29%
Series B Warrants [Member]
Terms of warrants	1 month
Exercise price	$ 0.001
Risk free rate of interest	1.88%
Dividend yield	0.00%
Annualized volatility of underlying stock	0.87%

Shareholders' Equity (Details T

Shareholders' Equity (Details Textual)	Aug. 09, 2018	Jul. 10, 2018USD ($)$ / sharesshares	Jul. 06, 2018	Apr. 04, 2018shares	Jan. 20, 2017shares	Sep. 23, 2016Employeesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)shares	Sep. 18, 2018shares
Shareholders' Equity (Textual)
Ordinary shares issued							25,288,003	23,758,817
Ordinary shares held in escrow									8,000,000
Ordinary shares outstanding							25,288,003	23,758,817
Ordinary shares, authorized description							Unlimited shares authorized	Unlimited shares authorized
Redeemed share							715,000	715,000
Ordinary shares, par value | $ / shares
Common share dividends issued					519,156		116
Warrant exercise price | $ / shares							$ 0.50
Fair value changes in warrant liabilities | $							$ (748,346)
Percentage of ordinary shares							6.00%
Issuance costs | $		$ 310,000
Series A Warrants [Member]
Shareholders' Equity (Textual)
Estimated fair value assumptions		1,202,310					510,000
Sale of stock, Description		The Company issued Series A warrants to investors to purchase a total of 576,924 ordinary shares with a warrant term of four (4) years. The Series A Warrants have an exercise price of US$2.60.
Convertible common stock price per share | $ / shares		$ 2.60
Series B Warrants [Member]
Shareholders' Equity (Textual)
Estimated fair value assumptions		504,499					390,579
Sale of stock, Description		The investors also received Series B warrants with an initial face amount of 200,000 ordinary shares, which are subject to adjustment not in excess of an aggregate of 462,843 ordinary shares (the "Series B Warrants") for nominal consideration. If on the 30th day after the closing date of the transaction (the "Adjustment Date"), the closing bid price of the Company's ordinary shares is less than US$2.60, the investors shall have the right to exercise the Series B Warrants.
Warrant, Description	The closing bid price of the Company's ordinary shares was US$1.29, and thus the investors exercised the Series B Warrant for 390,579 ordinary shares at US$391. The carrying fair value of the warrant liabilities on the exercise day was US$503,847, and the fair value change in warrant liabilities for the years ended December 31, 2018 was US$652. The Company incurred a gain of US$652 upon exercise of the warrants.
Placement Agent Warrants [Member]
Shareholders' Equity (Textual)
Estimated fair value assumptions		96,185					40,800
One independent Director [Member]
Shareholders' Equity (Textual)
Granted unvested restricted shares										370,525
Four Employees [Member]
Shareholders' Equity (Textual)
Granted unvested restricted shares										370,525
Restricted Stock [Member]
Shareholders' Equity (Textual)
Estimated fair value assumptions							370,525	116
Number of restricted shares, Forfeited							(1,150)	(200)
Granted unvested restricted shares								1,250	2,700
Forfeiture of restricted shares, shares					200
Restricted shares issued						2,700
Number of employees | Employees						19
Common share dividends issued								116
Private Placement [Member]
Shareholders' Equity (Textual)
Sale of stock, Description			The Company and certain institutional investors entered into a securities purchase agreement ("Private Placement"), pursuant to which the Company agreed to sell to such investors an aggregate of 769,232 ordinary shares together with Series A warrants to purchase a total of 576,924 ordinary shares (the "Series A Warrants"), for gross proceeds of approximately US$2.0 million. Each investor will receive a Series A Warrant to purchase a number of shares equal to 75% of the number of ordinary shares the investor purchases in the offering with a warrant term of four (4) years. The purchase price for each ordinary share and the related Series A Warrants is US$2.60. The Series A Warrants have an exercise price of US$2.60. In connection with the offering, the investors also received Series B warrants with an initial face amount of 200,000 ordinary shares, which are subject to adjustment not in excess of an aggregate of 462,843 ordinary shares (the "Series B Warrants") for nominal consideration. If on the 30th day after the closing date of the transaction (the "Adjustment Date"), the closing bid price of the Company's ordinary shares is less than US$2.60, the investors shall have the right to exercise the Series B Warrants and the number of ordinary shares to be issued to the investors upon exercise of the Series B Warrants shall be adjusted (upward or downward, as necessary) based on the closing bid price of the Company's ordinary shares on such date. The closing of the offering took place on July 10, 2018. On August 9, 2018, the closing bid price of the Company's ordinary shares was US$1.29, and thus the Series B Warrant was exercised for 390,579 ordinary shares.
Convertible Redeemable Class A Preferred Shares [Member]
Shareholders' Equity (Textual)
Preferred shares issued							715,000	715,000
Preferred shares, outstanding							715,000	715,000
Forecast [Member]
Shareholders' Equity (Textual)
Forfeiture of restricted shares, shares				1,150
Minimum [Member]
Shareholders' Equity (Textual)
Target adjust net income | $							$ 23,300,000
Maximum [Member]
Shareholders' Equity (Textual)
Target adjust net income | $							40,000,000
2016 | Minimum [Member]
Shareholders' Equity (Textual)
Target adjust net income | $							20,200,000
2016 | Maximum [Member]
Shareholders' Equity (Textual)
Target adjust net income | $							32,000,000
2017 | Minimum [Member]
Shareholders' Equity (Textual)
Target adjust net income | $							22,600,000
2017 | Maximum [Member]
Shareholders' Equity (Textual)
Target adjust net income | $							38,000,000
2018 | Minimum [Member]
Shareholders' Equity (Textual)
Target adjust net income | $							25,600,000
2018 | Maximum [Member]
Shareholders' Equity (Textual)
Target adjust net income | $							$ 44,000,000
Escrow [Member]
Shareholders' Equity (Textual)
Ordinary shares, authorized description							Upon consummation of the business combination between the Company and Adrie, an aggregate of 20 million ordinary shares were issued and 8 million of the issued ordinary shares were deposited in escrow (the "Escrow Shares").
Restricted shares issued							8,000,000	8,000,000

Loan Receivable, Net (Details)

Loan Receivable, Net (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivable	$ 221,508,266	$ 181,556,785
Provision for loan losses
Collectively assessed	(23,264)	(99,563)	$ (1,405,536)
Individually assessed	(128,904,336)	(64,195,127)	$ (5,020,771)
Provision for loan losses	(128,927,600)	(64,294,690)
Loan receivable, net	92,580,666	117,262,095
Loan receivable - related parties, net	490,724	1,244,739
Loan receivable - third parties, net	92,089,942	116,017,356
Business loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivable	108,913,922	112,594,344
Personal loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivable	$ 56,215,822	$ 125,340,963

Loan Receivable, Net (Details 1

Loan Receivable, Net (Details 1) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
1-89 Days Past Due	$ 2,031,231	$ 38,280,319
90-179 Days Past Due	15,421,951	35,193,296
180-365 Days Past Due	67,876,989	4,284,361
Over 1 year Past Due	69,076,199	7,866,437
Total Past Due	154,406,370	85,624,413
Current	67,101,896	95,932,372
Total Loans	221,508,266	181,556,785
Business loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
1-89 Days Past Due	1,856,751	9,976,350
90-179 Days Past Due	1,129,755	4,368,880
180-365 Days Past Due	27,739,900	507,116
Over 1 year Past Due	12,248,816	6,925,968
Total Past Due	42,975,222	21,778,314
Current	65,938,700	34,437,508
Total Loans	108,913,922	56,215,822
Personal loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
1-89 Days Past Due	174,480	28,303,969
90-179 Days Past Due	14,292,196	30,824,416
180-365 Days Past Due	40,137,089	3,777,245
Over 1 year Past Due	56,827,383	940,469
Total Past Due	111,431,148	63,846,099
Current	1,163,196	61,494,864
Total Loans	$ 112,594,344	$ 125,340,963

Loan Receivable, Net (Details 2

Loan Receivable, Net (Details 2) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total analysis of loans by collateral	$ 221,508,266	$ 181,556,785
Guarantee backed loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total analysis of loans by collateral	65,312,461	80,468,274
Pledged assets backed loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total analysis of loans by collateral	150,440,890	92,890,138
Collateral backed loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total analysis of loans by collateral	5,754,915	8,198,373
Business loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total analysis of loans by collateral	108,913,922	56,215,822
Business loans [Member] | Guarantee backed loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total analysis of loans by collateral	29,176,804	36,515,140
Business loans [Member] | Pledged assets backed loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total analysis of loans by collateral	75,665,930	13,861,166
Business loans [Member] | Collateral backed loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total analysis of loans by collateral	4,071,188	5,839,516
Personal loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total analysis of loans by collateral	112,594,344	125,340,963
Personal loans [Member] | Guarantee backed loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total analysis of loans by collateral	36,135,657	43,953,134
Personal loans [Member] | Pledged assets backed loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total analysis of loans by collateral	74,774,960	79,028,972
Personal loans [Member] | Collateral backed loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total analysis of loans by collateral	$ 1,683,727	$ 2,358,857

Loan Receivable, Net (Details 3

Loan Receivable, Net (Details 3) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total pledged loans receivable	$ 4,966,849	$ 5,310,886
Business loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total pledged loans receivable
Personal loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total pledged loans receivable	$ 4,966,849	$ 5,310,886

Loan Receivable, Net (Details T

Loan Receivable, Net (Details Textual)	12 Months Ended
	Dec. 31, 2018USD ($)Employees	Dec. 31, 2017USD ($)Employees	Dec. 31, 2016USD ($)
Loans Receivable, Net (Textual)
Financing receivable recorded investment past due, description	Accrual of interest is generally discontinued when either (i) reasonable doubt exists as to the full, timely collection of interest or principal or (ii) when a loan becomes past due by more than 90 days.
Percentage of guaranteed loans	29.50%	44.30%
Loan interest rate	4.00%	24.00%
Gross loans receivable	$ 221,508,266	$ 181,556,785
Provision charges	85,715,748	55,299,749	$ 4,650,887
Provision for loan and lease losses write offs	$ 14,365,469		$ 91,812
China Great Wall Assets Management Co. Ltd. [Member]
Loans Receivable, Net (Textual)
Loan interest rate	292.00%	289.00%
Gross loans receivable	$ 4,966,849	$ 5,310,886
Minimum [Member]
Loans Receivable, Net (Textual)
Loan interest rate			17.28%
Maximum [Member]
Loans Receivable, Net (Textual)
Loan interest rate			24.00%
Business Loan [Member]
Loans Receivable, Net (Textual)
Number of customers | Employees	75	59
Gross loans receivable	$ 108,913,922	$ 56,215,822
Personal Loans [Member]
Loans Receivable, Net (Textual)
Number of customers | Employees	159	174
Gross loans receivable	$ 112,594,344	$ 125,340,963

Provision for Loan Losses (Deta

Provision for Loan Losses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for loan losses beginning balance	$ 64,294,690	$ 6,426,307	$ 2,208,708
Charge-offs	(14,365,469)		(91,812)
Provisions	85,715,748	55,299,749	4,650,887
Reversals	(2,141,304)
Foreign currency translation adjustment	(6,717,369)	2,568,634	(341,476)
Provision for loan losses ending balance	128,927,600	64,294,690	6,426,307
Ending balance: individually evaluated for impairment	128,904,336	64,195,127	5,020,771
Ending balance: collectively evaluated for impairment	23,264	99,563	1,405,536
Business loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for loan losses beginning balance	22,365,076	4,238,133	1,053,579
Charge-offs	(9,053,190)		(91,812)
Provisions	25,739,061	17,178,340	3,492,322
Reversals	(1,571,499)
Foreign currency translation adjustment	(2,123,526)	948,603	(215,956)
Provision for loan losses ending balance	35,355,922	22,365,076	4,238,133
Ending balance: individually evaluated for impairment	35,343,563	22,308,497	3,728,072
Ending balance: collectively evaluated for impairment	12,359	56,579	510,061
Personal loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Provision for loan losses beginning balance	41,929,614	2,188,174	1,155,129
Charge-offs	(5,312,279)
Provisions	62,117,991	38,121,409	1,158,565
Reversals	(569,805)
Foreign currency translation adjustment	(4,593,843)	1,620,031	(125,520)
Provision for loan losses ending balance	93,571,678	41,929,614	2,188,174
Ending balance: individually evaluated for impairment	93,560,773	41,886,630	1,292,699
Ending balance: collectively evaluated for impairment	$ 10,905	$ 42,984	$ 895,475

Provision for Loan Losses (De_2

Provision for Loan Losses (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Provision for loan losses (Textual)
Specific reserve	$ 128,904,336	$ 64,195,127
Specific reserves rate, description	Charged of specific reserve with specific provision rates ranging between 50%-100% and 10%-100%, respectively.
Guarantee back loans [Member]
Provision for loan losses (Textual)
Percentage of loans	29.50%	44.30%
pledged asset backed loans [Member]
Provision for loan losses (Textual)
Percentage of loans	67.90%	51.20%
Collateral backed loans [Member]
Provision for loan losses (Textual)
Percentage of loans	2.60%	4.50%

Loan Impairment (Details)

Loan Impairment (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trouble debt restructuring amounts	$ 14,365,469
Allowance for loan loss	1,424,916
Loans impaired, description		37 loans aggregating US$32.4 million were granted one-time extension, which accounted for 16.8% of total loans originated during the year ended December 31, 2017.
Business Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trouble debt restructuring amounts
Allowance for loan loss		15,397,550
Impaired amounts of business loans		11,336,725
Impaired amounts of personal loans		45,252,182
Personal Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trouble debt restructuring amounts	45,252,182	$ 11,336,725
Allowance for loan loss	$ 6,768,841

Property and Equipement, Net (D

Property and Equipement, Net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation	$ (37,746)	$ (23,728)
Property and equipment, net	28,546	46,334
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 14,908	$ 15,755
Property and equipment, useful life years	5 years	5 years
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 29,080	$ 30,734
Property and equipment, useful life years	3 years	3 years
Electronic equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 22,304	$ 23,573
Property and equipment, useful life years	3 years	3 years

Property and Equipement, Net _2

Property and Equipement, Net (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Property and Equipment, Net (Textual)
Depreciation expense	$ 15,897	$ 37,084	$ 37,448

Intangible Assets, Net (Details

Intangible Assets, Net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets [Line Items]
Less: accumulated amortization	$ (20,551)	$ (12,406)
Intangible assets, net	$ 67,571	$ 80,729
Credit rating system[Member]
Finite-Lived Intangible Assets [Line Items]
Useful life years	10 years	10 years
Intangible assets, gross	$ 54,868	$ 57,988
Software license [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life years	10 years	10 years
Intangible assets, gross	$ 5,021	$ 5,306
Loan platform [Member]
Finite-Lived Intangible Assets [Line Items]
Useful life years	10 years	10 years
Intangible assets, gross	$ 28,233	$ 29,839

Intangible Assets, Net (Detai_2

Intangible Assets, Net (Details 1) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Intangible Assets, Net [Abstract]
Twelve months ending December 31, 2019	$ 8,812
Twelve months ending December 31, 2020	8,812
Twelve months ending December 31, 2021	8,812
Twelve months ending December 31, 2022	8,812
Twelve months ending December 31, 2023 and thereafter	32,323
Amortization expenses, Total	$ 67,571	$ 80,729

Intangible Assets, Net (Detai_3

Intangible Assets, Net (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Intangible Assets, Net (Textual)
Amortization expense	$ 9,160	$ 8,009	$ 4,003

Cost Method Investment (Details

Cost Method Investment (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Cost Method Investment/ Loans from a Related Party, a Cost Method Investee [Abstract]
Cost method investment

Cost Method Investment (Detai_2

Cost Method Investment (Details Textual)	12 Months Ended
	Dec. 31, 2018	Jan. 31, 2015USD ($)	Jan. 31, 2015CNY (¥)
Cost Method Investment (Textual)
Total registered capital		$ 153,671,465	¥ 1,000,000,000
Commitment to invest of paid in capital, percentage	5.00%

Short-Term Bank Loans, Net (Det

Short-Term Bank Loans, Net (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Short-term Debt [Line Items]
Short-term bank loans	$ 7,983,640	$ 11,981,502
Less unamortized financing cost		(11,526)
Short-term bank loans less unamortized financing cost	$ 7,983,640	11,969,976
Tianshan Rural Commercial Bank [Member]
Short-term Debt [Line Items]
Lender Name	Urumqi Changhe Financing Guarantee Co., Ltd. ("Changhe")
Bank name	Tianshan Rural Commercial Bank
Fixed annual interest rate	10.00%
Short term debt, Term	From August 9, 2016 to August 8, 2017
Short-term bank loans	$ 1,447,930	1,534,914
Bank of Urumqi Co., Ltd [Member]
Short-term Debt [Line Items]
Lender Name	Urumqi Changhe Financing Guarantee Co., Ltd.
Bank name	Bank of Urumqi Co., Ltd
Fixed annual interest rate	10.00%
Short term debt, Term	From July 13, 2016 to July 13, 2017
Short-term bank loans	$ 1,453,996	1,536,715
Shanghai Pudong Development Bank [Member]
Short-term Debt [Line Items]
Lender Name	Shanghai Pudong Development Bank
Bank name	Shanghai Pudong Development Bank
Fixed annual interest rate	7.00%
Short term debt, Term	From December 22, 2016 to December 21, 2017
Short-term bank loans		3,534,444
Tianshan Rural Commercial Bank One [Member]
Short-term Debt [Line Items]
Lender Name	Urumqi Economic Development Zone Zhengxin Financing Guarantee Co., Ltd ("Zhengxin")
Bank name	Tianshan Rural Commercial Bank
Fixed annual interest rate	10.00%
Short term debt, Term	From January 4, 2017 to September 3, 2017
Short-term bank loans	$ 1,452,542	1,535,178
Tianshan Rural Commercial Bank Two [Member]
Short-term Debt [Line Items]
Lender Name	Urumqi Economic Development Zone Zhengxin Financing Guarantee Co., Ltd
Bank name	Tianshan Rural Commercial Bank
Fixed annual interest rate	10.00%
Short term debt, Term	From January 5, 2017 to September 4, 2017
Short-term bank loans	$ 725,544	766,821
Tianshan Rural Commercial Bank Three [Member]
Short-term Debt [Line Items]
Lender Name	Urumqi Changhe Financing Guarantee Co., Ltd.
Bank name	Tianshan Rural Commercial Bank
Fixed annual interest rate	10.00%
Short term debt, Term	From January 11, 2017 to January 10, 2018
Short-term bank loans	$ 1,453,996	1,536,715
Tianshan Rural Commercial Bank Four [Member]
Short-term Debt [Line Items]
Lender Name	Urumqi Economic Development Zone Zhengxin Financing Guarantee Co., Ltd
Bank name	Tianshan Rural Commercial Bank
Fixed annual interest rate	10.00%
Short term debt, Term	From April 11, 2017 to December 10, 2017
Short-term bank loans	$ 581,598	614,686
Tianshan Rural Commercial Bank Five [Member]
Short-term Debt [Line Items]
Lender Name	Urumqi Economic Development Zone Zhengxin Financing Guarantee Co., Ltd
Bank name	Tianshan Rural Commercial Bank
Fixed annual interest rate	10.00%
Short term debt, Term	From April 11, 2017 to April 10, 2018
Short-term bank loans	$ 868,034	$ 922,029

Short-Term Bank Loans, Net (D_2

Short-Term Bank Loans, Net (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Short-term Debt [Line Items]
Interest expense charged for short-term bank loans	$ 1,241,463	$ 1,583,491	$ 715,535
Feng Hui and related parties [Member]
Short-term Debt [Line Items]
Interest expense charged for short-term bank loans	1,241,463	1,115,329	580,843
Amortization expenses short-term bank loan		468,162	$ 134,692
Shanghai Pudong Development Bank [Member]
Short-term Debt [Line Items]
Interest expense charged for short-term bank loans	$ 2,179,539	$ 1,132,663

Loans from a Related Party, a_3

Loans from a Related Party, a Cost Method Investee (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Schedule Of Cost Method Investments Line Item [Line Items]
Total loans from a cost investment investee	$ 14,539,956	$ 15,367,146
Xinjiang Microcredit Refinancing Co. Ltd. One [Member]
Schedule Of Cost Method Investments Line Item [Line Items]
Loans from a cost investment investee interest rate	Fixed annual rate of 12.0
Loans from a cost investment investee term	From August 23, 2016 to August 22, 2017.
Total loans from a cost investment investee	$ 3,634,989	3,841,787
Xinjiang Microcredit Refinancing Co. Ltd. Two [Member]
Schedule Of Cost Method Investments Line Item [Line Items]
Loans from a cost investment investee interest rate	Fixed annual rate of 12.0
Loans from a cost investment investee term	From August 30, 2016 to November 29, 2017.
Total loans from a cost investment investee	$ 2,180,993	2,305,072
Xinjiang Microcredit Refinancing Co. Ltd. Three [Member]
Schedule Of Cost Method Investments Line Item [Line Items]
Loans from a cost investment investee interest rate	Fixed annual rate of 12.0
Loans from a cost investment investee term	From September 1, 2016 to November 30, 2017.
Total loans from a cost investment investee	$ 1,453,996	1,536,715
Xinjiang Microcredit Refinancing Co. Ltd. Four [Member]
Schedule Of Cost Method Investments Line Item [Line Items]
Loans from a cost investment investee interest rate	Fixed annual rate of 12.0
Loans from a cost investment investee term	From September 19, 2016 to March 18, 2018.
Total loans from a cost investment investee	$ 7,269,978	$ 7,683,572

Loans from a Related Party, a_4

Loans from a Related Party, a Cost Method Investee (Details Textual)	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Nov. 17, 2017CNY (¥)	Aug. 10, 2017USD ($)	Aug. 10, 2017CNY (¥)
Loans from a Related Party, a Cost Investment Investee (Textual)
Interest expense charged for loans from cost method investee	$ 2,639,945	$ 2,530,586	$ 1,818,656
Loans receivable	92,580,666	117,262,095
Penalties for default payment	2,448,498	882,864
Xinjiang Microcredit Refinancing Co, Ltd. [Member]
Loans from a Related Party, a Cost Investment Investee (Textual)
Interest expense charged for loans from cost method investee	191,447	1,647,722	$ 1,818,656
Loans payable | ¥				¥ 25,000,000
Loans receivable					$ 3,744,196	¥ 25,000,000
Feng Hui [Member]
Loans from a Related Party, a Cost Investment Investee (Textual)
Loans receivable	$ 21,140,000	$ 22,350,000

Loans from Third Parties (Detai

Loans from Third Parties (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Loans from third parties (Textual)
Loan from third parties	$ 3,312,202
Urumqi Changhe Financing Guarantee Co., Ltd. [Member]
Loans from third parties (Textual)
Interest rate	7.00%
Term	Repayment on demand
Loan from third parties	$ 2,179,539
Urumuqi National Economic Financing and Guarantee Co., Ltd. [Member]
Loans from third parties (Textual)
Interest rate	7.00%
Term	Repayment on demand
Loan from third parties	$ 1,132,663

Loans from Third Parties (Det_2

Loans from Third Parties (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Loans from third parties (Textual)
Bank loan amount	$ 3,312,202
Urumqi Changhe Financing Guarantee Co., Ltd. [Member]
Loans from third parties (Textual)
Bank loan amount	$ 2,179,539
Related Party Transaction, Rate	7.00%
Interest expense	$ 238,040
Urumuqi National Economic Financing and Guarantee Co., Ltd. [Member]
Loans from third parties (Textual)
Bank loan amount	$ 1,132,663
Related Party Transaction, Rate	7.00%
Interest expense	$ 124,805

Secured Loan Payable (Details)

Secured Loan Payable (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Secured loans	$ 79,213,679	$ 15,336,412
From October 29, 2016 to October 28, 2017 [Member] | Fixed annual rate of 11.0% [Member] | China Great Wall Assets Management Co. Ltd. (China Great Wall) [Member]
Debt Instrument [Line Items]
Secured loans	14,510,876	15,336,412
From December 28, 2018 to February 27, 2019 [Member] | Fixed annual rate of 1.29% One [Member] | Hangzhou Jingyuan Investment Management Co., Ltd (Hangzhou Jingyuan) One [Member]
Debt Instrument [Line Items]
Secured loans	50,889,845
From December 29, 2018 to June 28, 2019 [Member] | Fixed annual rate of 6.0% Two [Member] | Hangzhou Jingyuan Investment Management Co Ltd Two [Member]
Debt Instrument [Line Items]
Secured loans	8,723,973
From December 12, 2018 to December 12, 2019 [Member] | Fixed annual rate of 6.0% Three [Member] | Hangzhou Jingyuan Investment Management Co Ltd Three [Member]
Debt Instrument [Line Items]
Secured loans	$ 5,088,985

Secured Loan Payable (Details T

Secured Loan Payable (Details Textual) ¥ in Millions	1 Months Ended		12 Months Ended
	Sep. 18, 2018USD ($)	Sep. 18, 2018CNY (¥)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Secured Loans (Textual)
Interest expense			$ 469,149	$ 472,975
Loans receivable			92,580,666	117,262,095
Penalties for default payment of principals and interests			2,157,006	1,476,588
Secured Debt			79,213,679	15,336,412
Secured loan [Member]
Secured Loans (Textual)
Interest expense				1,303,909	$ 2,442,527
Hangzhou Jingyuan [Member]
Secured Loans (Textual)
Interest expense			$ 25,118
Hangzhou Jingyuan [Member] | Maximum [Member]
Secured Loans (Textual)
Interest rate			6.00%
Hangzhou Jingyuan [Member] | Minimum [Member]
Secured Loans (Textual)
Interest rate			1.29%
China Great Wall Assets Management Co. Ltd. (China Great Wall) [Member]
Secured Loans (Textual)
Repayment of interest and penalties	$ 16,400,000	¥ 112.6
Feng Hui [Member] | Secured loan [Member]
Secured Loans (Textual)
Loans receivable			$ 4,966,849	$ 5,310,886

Other Liabilities (Details)

Other Liabilities (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Other Liabilities [Abstract]
Interest payable	$ 10,617,533	$ 4,220,626
Accruals	142,753	97,591
Other payables	415,224	297,802
Long-term debt	4,071,188	4,337,633
Other liabilities	$ 15,246,698	$ 8,953,652

Other Liabilities (Details Text

Other Liabilities (Details Textual)	Aug. 25, 2017USD ($)	Nov. 16, 2016USD ($)	Nov. 16, 2016CNY (¥)
Other Liabilities (Textual)
Feng Hui received loan	$ 1,229,372	$ 2,879,865	¥ 20,000,000
Interest rate of loan	1.00%	1.00%	1.00%
Maturity date of loan	Aug. 24, 2022	Nov. 15, 2021

Other Operating Expenses (Detai

Other Operating Expenses (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Other Operating Expenses [Abstract]
Depreciation and amortization	$ 25,057	$ 45,093	$ 40,004
Legal and professional expenses	1,069,445	759,563	1,276,271
Office related expenses	489,078	949,807	1,131,255
Travel and entertainment	95,977	298,938	218,618
Total	$ 1,679,557	$ 2,053,401	$ 2,666,148

Dividend Payable (Details)

Dividend Payable (Details) - USD ($)	Jun. 23, 2017	May 26, 2017	Apr. 24, 2017	Mar. 21, 2017	Jan. 20, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Dividend Payable (Textual)
Percentage of dividend to net income		25.00%		25.00%
Common shares dividend paid by cash						$ 480,000	$ 480,000
Common shares dividend, Shares	210,925		129,872		519,156
Dividends payable, amount per share		$ 0.047		$ 0.036
Escrow shares								2,666,667
Common shares dividend paid by shares							$ 5,332,969	$ 17,160
Description of dividends payable		The Company announced a dividend of US$0.047 per ordinary share which represents an amount equal to twenty-five percent (25%) of (i) the Company's consolidated net income for the period beginning January 1,2017 through March 31,2017, less (ii) the amount of dividends paid, payable or otherwise accrued as preferred dividends with respect to the Company's Series A preferred shares for such period.		The company announced a dividend of US$0.036 per ordinary share which represents an amount equal to twenty-five percent (25%) of (i) the Company's consolidated net income for the period beginning October 1, 2016 through December 31, 2016, less (ii) the amount of dividends paid, payable or otherwise accrued as preferred dividends with respect to the Company's Series A preferred shares for such period.
Ordinary shares, issued						25,288,003	23,758,817
Ordinary shares, outstanding						25,288,003	23,758,817

Statutory Reserve (Details)

Statutory Reserve (Details) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Statutory Reserve (Textual)
Percentage of net income transferred	10.00%
Percentage of registered capital	50.00%
Statutory reserve	$ 6,621,063	$ 6,621,063

Taxation (Details)

Taxation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income tax expense is comprised of:
Current income tax	$ 17,635	$ 1,869,437	$ 4,789,085
Deferred income tax expense (benefit)		885,311	(662,741)
Total	$ 17,635	$ 2,754,749	$ 4,121,338

Taxation (Details 1)

Taxation (Details 1) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Taxation [Abstract]
Accrued interest receivable	$ 52,930	$ 267,208
Accrued interest payable	1,058,637	442,258
Provision for loan losses	21,300,459	9,609,133
Accruals	21,300,459	20,250
Investment impairment	545,248
Net operating losses carryforwards	787,092
Deferred tax assets	23,766,459	10,338,849
Valuation allowance	(23,766,459)	(10,338,849)
Deferred tax assets, net

Taxation (Details 2)

Taxation (Details 2)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Taxation [Abstract]
PRC statutory tax rate	25.00%	25.00%	25.00%
Effect of preferential income tax rate	(9.60%)	(9.80%)	(8.30%)
Effect of different income tax rate in other jurisdictions	(0.30%)
Effect of non-deductible expenses	0.00%	0.00%	0.10%
Provision for DTA allowance	(15.10%)	(19.10%)	0.00%
Others	0.00%	(1.40%)	2.50%
Effective tax rate	0.00%	(5.30%)	19.30%

Taxation (Details 3)

Taxation (Details 3) - USD ($)	Dec. 31, 2018	Dec. 31, 2017
Taxation [Abstract]
Income Tax Payable	$ 803,650	$ 847,528

Taxation (Details Textual)

Taxation (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Taxation [Line Items]
Effective income tax rate	0.00%	(5.30%)	19.30%
Effect of preferential income tax rate	(9.60%)	(9.80%)	(8.30%)
Operating Loss Carryforwards	$ 787,092
PRC statutory tax rate	25.00%	25.00%	25.00%
Operating loss carryforwards, Description	Which will expire in 2023.
PRC [Member]
Taxation [Line Items]
PRC statutory tax rate	25.00%
Hong Kong [Member]
Taxation [Line Items]
PRC statutory tax rate	16.50%
Feng Hui Holding [Member]
Taxation [Line Items]
PRC statutory tax rate	15.00%

(Loss) Earnings Per Share (Deta

(Loss) Earnings Per Share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
(Loss) Earnings Per Share [Abstract]
Net (Loss) Income	$ (94,126,307)	$ (54,783,273)	$ 17,278,404
Dividend - Convertible Redeemable Class A preferred stock	(686,400)	(686,400)	(333,327)
Net loss attributable to noncontrolling interests	(76)
Net (loss) income allocated to ordinary shareholders	$ (94,812,783)	$ (55,469,673)	$ 16,945,077
Weighted-average common shares outstanding - basic	24,380,051	17,343,763	18,353,249
Weighted-average common shares outstanding - diluted	24,380,051	17,343,763	21,871,632
(Loss) Earnings per share to ordinary shareholders - Basic	$ (3.89)	$ (3.20)	$ 0.92
(Loss) Earnings per share to ordinary shareholders - Diluted	$ (3.89)	$ (3.20)	$ 0.77

(Loss) Earnings Per Share (De_2

(Loss) Earnings Per Share (Details Textual)	12 Months Ended
	Dec. 31, 2016shares
(Loss) Earnings Per Share (Textual)
Escrow shares	2,666,667

Related Party Transactions an_3

Related Party Transactions and Balances (Details) - Related companies of non-controlling investors of Feng Hui [Member] - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Loans paid to Related Parties		$ 8,083,119
Balance of Loans Receivable from Related Parties	$ 490,724	$ 1,244,739

Related Party Transactions an_4

Related Party Transactions and Balances (Details 1) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Total loans from a cost investment investee	$ 14,539,956	$ 15,367,146
From August 23, 2016 to August 22, 2017 [Member] | Xinjiang Microcredit Refinancing Co. Ltd. [Member]
Related Party Transaction [Line Items]
Interest rate	12.00%	12.00%
Total loans from a cost investment investee	$ 3,634,989	$ 3,841,787
From August 30, 2016 to November 29, 2017 [Member] | Xinjiang Microcredit Refinancing Co. Ltd. [Member]
Related Party Transaction [Line Items]
Interest rate	12.00%	12.00%
Total loans from a cost investment investee	$ 2,180,993	$ 2,305,072
From September 1, 2016 to November 30, 2017 [Member] | Xinjiang Microcredit Refinancing Co. Ltd. [Member]
Related Party Transaction [Line Items]
Interest rate	12.00%	12.00%
Total loans from a cost investment investee	$ 1,453,996	$ 1,536,715
From September 19, 2016 to March 18, 2018 [Member] | Xinjiang Microcredit Refinancing Co. Ltd. [Member]
Related Party Transaction [Line Items]
Interest rate	12.00%	12.00%
Total loans from a cost investment investee	$ 7,269,978	$ 7,683,572

Related Party Transactions an_5

Related Party Transactions and Balances (Details 2) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Guarantees loans receivable, shareholders and related parties	$ 1,964,844	$ 218,855,827
Guarantees loans receivable, outstanding balances	45,395,196	70,478,344
Non-controlling shareholders of the Company [Member] | Loans receivable [Member]
Related Party Transaction [Line Items]
Guarantees loans receivable, shareholders and related parties		109,441,744
Guarantees loans receivable, outstanding balances		18,967,669
Related companies of a non-controlling shareholder of the Company [Member] | Loans receivable [Member]
Related Party Transaction [Line Items]
Guarantees loans receivable, shareholders and related parties	1,964,844	109,414,083
Guarantees loans receivable, outstanding balances	$ 45,395,196	$ 51,510,675

Related Party Transactions an_6

Related Party Transactions and Balances (Details 3) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Aggregated principal amount	$ 9,450,972	$ 13,523,090
Short term bank loans, Total	7,983,640	11,981,502
Tianshan Rural Commercial Bank [Member]
Related Party Transaction [Line Items]
Aggregated principal amount	7,996,976	8,451,931
Short term bank loans, Total	$ 6,529,644	$ 6,910,343
Shareholders and related parties	General manager of the Company and a non-controlling shareholder of the Company	General manager of the Company and a non-controlling shareholder of the Company
Bank of Urumqi Co., Ltd [Member]
Related Party Transaction [Line Items]
Aggregated principal amount	$ 1,453,996	$ 1,536,715
Short term bank loans, Total	$ 1,453,996	$ 1,536,715
Shareholders and related parties	General manager of the Company and a non-controlling shareholder of the Company	General manager of the Company and a non-controlling shareholder of the Company
Shanghai Pudong Development Bank [Member]
Related Party Transaction [Line Items]
Aggregated principal amount		$ 3,534,444
Short term bank loans, Total		$ 3,534,444
Shareholders and related parties		General manager of the Company and non-controlling shareholders of the Company

Related Party Transactions an_7

Related Party Transactions and Balances (Details 4) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Schedule of Guarantees of Loans Receivable
Principal of guarantee loan	$ 88,664,650	$ 30,703,558
Loans from a cost investment investee	88,664,650	30,703,558
China Great Wall Assets Management Co. Ltd. [Member]
Schedule of Guarantees of Loans Receivable
Principal of guarantee loan	14,510,876	15,336,412
Loans from a cost investment investee	$ 14,510,876	$ 15,336,412
Shareholders and related parties	Non-controlling shareholders of the Company	Non-controlling shareholders of the Company
Xinjiang Microcredit Refinancing Co., Ltd. [Member]
Schedule of Guarantees of Loans Receivable
Principal of guarantee loan	$ 14,539,956	$ 15,367,146
Loans from a cost investment investee	$ 14,539,956	$ 15,367,146
Shareholders and related parties	Non-controlling shareholders of the Company	Non-controlling shareholders of the Company
Hangzhou Jingyuan Investment Management Co., Ltd [Member]
Schedule of Guarantees of Loans Receivable
Principal of guarantee loan	$ 59,613,818
Loans from a cost investment investee	$ 59,613,818
Shareholders and related parties	Non-controlling shareholders of the Company

Related Party Transactions an_8

Related Party Transactions and Balances (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Related Party Transactions and Balances (Textual)
Interest income loans to related parties		$ 293,395	$ 491,080
Provision for loan losses from related parties	817,872	2,412,642
Guarantees of short term bank loans	7,983,640	11,981,502
Interest expense	2,639,945	2,530,586	1,818,656
Penalties for default payment	2,448,498	882,864
Xinjiang Microcredit Refinancing Co, Ltd. [Member]
Related Party Transactions and Balances (Textual)
Interest expense	$ 191,447	$ 1,647,722	$ 1,818,656
Minimum [Member]
Related Party Transactions and Balances (Textual)
Interest rates	12.00%	12.00%	17.40%
Maximum [Member]
Related Party Transactions and Balances (Textual)
Interest rates	17.40%	17.40%	24.00%

Concentration of Credit Risks (

Concentration of Credit Risks (Details)	12 Months Ended
	Dec. 31, 2018USD ($)Customers	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Concentration of Credit Risks (Textual)
Percentage of loan receivable	23.00%	10.00%
Cash and cash equivalents | $	$ 1,311,749	$ 1,220,380	$ 4,496,588	$ 6,732,601
Number of customers | Customers	1

Commitments and Contingencies (

Commitments and Contingencies (Details) - 12 months ended Dec. 31, 2018 $ in Thousands, ¥ in Millions	USD ($)	CNY (¥)
Commitments and Contingencies (Textual)
Aggregated claim of delinquent balances	$ 4,640	¥ 30.7
Legal proceedings, amount	16,400	¥ 112.6
Five lawsuits [Member]
Commitments and Contingencies (Textual)
Aggregated claim of delinquent balances	$ 2,950

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member]	1 Months Ended
	Jan. 31, 2019
Subsequent Event (Textual)
Equity interest acquire	1.00%
Lixin [Member]
Subsequent Event (Textual)
Equity interest acquire	80.4592%
Equity interest acquired, description	The Company will acquire up to 80.4592% of equity interest in Lixin from six selling Lixin shareholders by issuing new shares and/or using cash on hand.