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EXCEL - IDEA: XBRL DOCUMENT - Grand China Energy Group LtdFinancial_Report.xls
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EX-31.1 - CERTIFICATION OF THE CEO - Grand China Energy Group Ltdexhibit31-1.htm
EX-32.1 - CERTIFICATION OF THE CEO - Grand China Energy Group Ltdexhibit32-1.htm
EX-31.2 - CERTIFICATION OF THE CFO - Grand China Energy Group Ltdexhibit31-2.htm
10-K - ANNUAL REPORT - Grand China Energy Group Ltdform10k.htm
EX-32.2 - CERTIFICATION OF THE CFO - Grand China Energy Group Ltdexhibit32-2.htm
v2.4.0.6
CASH AND CASH EQUIVALENTS
12 Months Ended
Dec. 31, 2011
CASH AND CASH EQUIVALENTS [Text Block]
4

CASH AND CASH EQUIVALENTS


    2011     2010  
          (Restated)  
         
             
Cash denominated in Chinese RMB   576,842     526,564  
Cash denominated in Canadian or Hong Kong Dollars   37,603     -  
             
    614,445     526,564  

As at December 31, 2011, the Company has cash and cash equivalents placed with banks or held by its subsidiary in the People’s Republic of China denominated in Chinese Renminbi (“RMB”) amounting to RMB 3,634,627 (2010: RMB 3,487,277) where the remittance of funds to jurisdictions outside the PRC is subject to certain government rules and regulations on foreign currency controls. Under the People’s Republic of China’s Foreign Exchange Control Regulations and Administration of Settlement, Sale and Payment of Foreign Exchange Regulations, the Company is permitted to exchange RMB for foreign currencies but may require approval of governmental authorities or designated banks in the PRC.