Quarterly report pursuant to sections 13 or 15(d)

ACCRUED LIABILITIES AND OTHER PAYABLES (Details 1)

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ACCRUED LIABILITIES AND OTHER PAYABLES (Details 1) (USD $)
Sep. 30, 2013
Dec. 31, 2012
Accrued Liabilities and Other Liabilities $ 3,684,872 $ 1,033,784 [1]
Merchant Supreme [Member]
   
Accrued salaries and wages 2,609,300 673,234
Other payables 853,513 360,532
Accrued Liabilities and Other Liabilities 3,462,813 1,033,766
Other payables $ 3,684,872 $ 1,033,784
[1] Represents the consolidation retrospectively restated as if Pingtan Marine Enterprise Ltd. (formerly known as China Growth Equity Investment Limited) completed its merger with China Dredging Group Co., Ltd. and the share purchase of Merchant Supreme Co., Ltd. on January 1, 2012 rather than on February 25, 2013. Assets and liabilities of discontinued operations are retrospectively restated as of December 31, 2012 after taking into account of the Group’s plan to sell China Dredging Group Co., Ltd. and its subsidiaries to the Company’s Chairman, CEO and major shareholder, Mr Xinrong Zhuo.