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Short-term bank loans and other debt

4. Short-term bank loans and other debt

Short term bank loans represent amounts due to various banks and are due on the dates indicated below. These loans generally can be renewed with the banks. Short term bank loans at December 31, 2012 and June 30, 2013 consisted of the following:

	December 31,		June 30,
	2012		2013
	US$		US$
	(Audited)		(Unaudited)
Loan from Agricultural Bank of China (Singapore)
Due September 21, 2013, at 1.1% plus LIBOR		-		10,000,000
		-		10,000,000

Loan from Bank of Zhengzhou
Due December 18, 2013, at 7.20% per annum		28,637,340		-
Due February 21, 2014, at 7.20% per annum		-		22,982,181
		28,637,340		22,982,181

Loan from China Guangfa Bank
Due December 26, 2013, at 6.00% per annum		19,091,560		19,421,561
Due January 17, 2014, at 6.60% per annum		-		2,594,397
		19,091,560		22,015,958
Loan from Industrial and Commercial Bank of China ("ICBC")
Due April 8, 2013, at 7.98% per annum		4,772,890		-
Due May 8, 2013, at 7.98% per annum		6,363,853		-
Due May 9, 2013, at 2.80% plus LIBOR		15,000,000		-
Due November 30, 2014, at 1.90% plus LIBOR*		10,000,000		10,000,000
Due September 19, 2013, at 1.30% plus LIBOR*		-		20,000,000
Due September 19, 2013, at 1.30% plus LIBOR*		-		15,000,000
		36,136,743		45,000,000

Loan from Beta Capital, LLC**
Due September 19, 2013, at 4.25% per annum		29,200,000		29,200,000
		29,200,000		29,200,000

Total short-term bank loans and other debt		113,065,643		129,198,139

Pursuant to the loan contract with ICBC, these three short-term loans from ICBC, amounting to US$10.0 million, US$20.0 million and US$15.0 million, respectively, are denominated in US$ and are secured by a deposit of US$48,276,271. Such deposit is classified as restricted cash on the consolidated balance sheet as of June 30, 2013. The US$10.0 million loan is due on November 30, 2014; however the Group has an obligation to repay the loan on demand if required by the bank. Therefore, this loan has been classified as short-term as of June 30, 2013.

**On August 31, 2012, Xinyuan Development Group International Inc. ("XIN Development") and Beta Capital LLC entered into a purchase and sale agreement, pursuant to which XIN Development's subsidiary, 421 Kent Development, LLC ("421 Kent Development") purchased land in Brooklyn, New York for a consideration of US$54.2 million, including a US$29.2 million mortgage loan borrowed from the seller with a maturity date of September 19, 2013, secured by the land purchased, any improvements thereon and any building equipment, materials and supplies owned by 421 Kent Development and any lease and rents from the property. In connection with the seller mortgage loan, 421 Kent Development agreed that, aside from developing and constructing the project, 421 Kent Development would not take certain actions without Beta Capital's consent, including removing improvements from or equipment on the property, making certain alterations to the properties, modifying or entering into new leases, or leasing, selling or transferring the property. In addition, 421 Kent Development agreed that it would not engage in any business other than that arising out of the ownership and operation of the property, not incur indebtedness other than the mortgage loan and amounts due in the ordinary course of business to trade creditors and not provide guarantees of the oblations of any other person. The Company repaid the loan in full on July 18, 2013.

As of June 30, 2013, except where otherwise indicated, all of the Group's short-term bank loans are denominated in RMB and are mainly secured by the Group's real estate property under development with net book value of US$19,733,247 (December 31, 2012: US$24,738,811) and land use right with net book value of US$ nil (December 31, 2012: US$14,438,201).

The weighted average interest rate on short-term bank loans and other debt as of June 30, 2013 was 5.75% (December 31, 2012: 5.31%).

Long-term bank loans

6 Months Ended

Jun. 30, 2013

Related party and employee transactions

Long-term bank loans

5. Long-term bank loans

Long-term bank loans as of December 31, 2012 and June 30, 2013 consisted of the following:

	December 31, 2012			June 30, 2013
	US$			US$
	(Audited)			(Unaudited)

Loan from ICBC
Due November 2, 2013 at 6.15% per annum		7,954,817			8,092,317
Due October 18, 2013 at 6.15% per annum		33,092,037			25,733,569
Due November 1, 2013 at 7.38% per annum		15,591,440			10,681,859
Due November 1, 2013 at 7.68% per annum		7,954,817			8,092,317
Due September 21, 2013 at 7.68% per annum		4,772,890			4,855,390
Due August 21, 2013 at 7.68% per annum		7,954,817			8,092,317
		77,320,818			65,547,769

Loan from Agricultural Bank of China (Singapore)
Due July 12, 2014, at 2.40% plus LIBOR*		15,000,000			15,000,000
Due September 10, 2014, at 2.00% plus LIBOR*		10,000,000			10,000,000
		25,000,000			25,000,000

Loan from ICBC (Thai) Public Company Limited
Due November 29, 2014, at 2.10% plus LIBOR**		10,000,000			10,000,000
		10,000,000			10,000,000

Loan from Agricultural Bank of China
Due April 23, 2013, at 5.84% per annum		13,364,092			-
Due May 5, 2013, at 6.15% per annum		12,886,803			-
Due May 19, 2013, at 5.84% per annum		12,091,321			-
Due June 30, 2014, at 6.77% per annum		-			16,184,635
		38,342,216			16,184,635

Loan from China Guangfa Bank
Due May 31, 2014, at 6.72% per annum		-			16,184,635
Due December 31, 2014, at 6.72% per annum		-			24,276,951
Due May 31, 2015, at 6.72% per annum		-			24,276,951
		-			64,738,537

Loan from Bank of China
Due May 26, 2013, at 7.07% per annum		9,354,864			-
		9,354,864			-

Total		160,017,898			181,470,941

Less: current portion of long term bank loans		(125,017,898	)		(97,917,038	)

Total long-term bank loans		35,000,000			83,553,903

*Pursuant to the loan contract with Agricultural Bank of China (Singapore), these two long-term loans from Agricultural Bank of China (Singapore), amounting to US$15.0 million and US$10.0 million, respectively, are denominated in US$ and are secured by the deposits of US$17,803,098 and US$10,167,398. Such deposits are classified as restricted cash on the consolidated balance sheet as of June 30, 2013.

**Pursuant to the loan contract with ICBC (Thai) Public Company Limited, this long-term loan amounting to US$10.0 million, is denominated in US$ and is secured by the deposit of US$11,361,613. This deposit is classified as restricted deposit on the consolidated balance sheet as of June 30, 2013.

As of June 30, 2013, except where otherwise indicated the Group's long-term bank loans are all denominated in RMB and are mainly secured by the Group's real estate property under development with net book value of US$7,778,786 (December 31, 2012: US$14,955,637) and land use right with net book value of US$217,248,965 (December 31, 2012: US$132,388,217).

As of June 30, 2013, there are no loans with contractual maturities extending past December 31, 2015.

The interest rates of these bank loans are adjustable based on the range of 95% to 120% of the PBOC prime rate. The weighted average interest rate on long-term bank loans as of December 31, 2012 was 6.68% (December 31, 2012: 5.79).

Other long-term debt

6 Months Ended

Jun. 30, 2013

Other long-term debt [Abstract]

Other long-term debt

6. Other long-term debt

As of December 31, 2012 and June 30, 2013, other long term debt consisted of the following:

	December 31, 2012			June 30, 2013
	US$			US$
	(Audited)			(Unaudited)

Guaranteed senior secured note due on April 15, 2013 at 15.6%*		40,000,000			-
Senior Secured Notes due on May 3, 2018 at 13.25%		-			200,000,000
Total principal of other long-term debt		40,000,000			200,000,000
Less: Unaccreted discount from embedded derivative and warrants		(288,220	)		-
Accrued interest		1,352,000			-

Total		41,063,780			200,000,000
Less: current portion		(41,063,780	)		-

Total other long-term debt		-			200,000,000

* The Company repaid the Guaranteed Senior Secured Note on April 12, 2013, before the due date and there was no penalty associated with the early repayment.

Senior Secured Notes

The Senior Secured Notes bear interest at 13.25% per annum payable semi-annually. Interest is payable on May 3 and November 3 of each year, commencing November 3, 2013. The Senior Secured Notes have a final maturity date of May 3, 2018.

The Senior Secured Notes were issued pursuant to an indenture, dated May 3, 2013, between, the Company, the "Subsidiary Guarantors" identified below and Citicorp International Limited, as trustee and collateral agent (the "Indenture"). The Company's obligations under the Indenture and the Senior Secured Notes have been guaranteed initially by certain of the Company's wholly-owned subsidiaries, Xinyuan Real Estate, Ltd., Xinyuan International Property Investment Co., Ltd., Victory Good Development Ltd., South Glory International Ltd., Elite Quest Holdings Ltd. and Xinyuan International (HK) Property Investment Co., Limited (the "Subsidiary Guarantors") and will be guaranteed by such other future subsidiaries of the Company as is set forth in and in accordance with the terms of the Indenture. The Company's obligations under the Indenture and the Senior Secured Notes are secured by a pledge of the capital stock of the Company's wholly-owned subsidiaries, Xinyuan Real Estate, Ltd. and Xinyuan International Property Investment Co., Ltd., and the obligations of Xinyuan Real Estate, Ltd. as a Subsidiary Guarantor are secured by a pledge of the capital stock of its wholly-owned subsidiaries, Victory Good Development Ltd., South Glory International Ltd. and Elite Quest Holdings Ltd.

The Company may redeem the Senior Secured Notes, in whole or in part, at a redemption price equal to 106.6250% of principal amount, plus accrued and unpaid interest, if any, to (but excluding) the redemption date, during the 12 month period commencing on May 3, 2016 or at a redemption price equal to 103.3125% of the principal amount, plus accrued and unpaid interest, if any to (but excluding) the redemption date, during the 12 month period commencing on May 3, 2017.

At any time prior to May 3, 2016, the Company may at its option redeem the Senior Secured Notes, in whole but not in part, at a redemption price equal to 100.0% of the principal amount of the Senior Secured Notes plus the Applicable Premium as of, and accrued and unpaid interest, if any, to (but not including) the redemption date. "Applicable Premium" means with respect to any Note at any redemption date, the greater of (i) 1.00% of the principal amount of such Note and (ii) the excess of (A) the present value at such redemption date of the redemption price of such Note on May 3, 2016, plus all required remaining scheduled interest payments due on such Note through May 3, 2016 (but excluding accrued and unpaid interest to the redemption date), computed using a discount rate equal to the Adjusted Treasury Rate (as defined in the Indenture) plus 100 basis points, over (B) the principal amount of such Note on such redemption date.

At any time prior to May 3, 2016, the Company may redeem up to 35% of the aggregate principal amount of the Senior Secured Notes with the net cash proceeds of one or more sales of the Company's common shares in certain equity offerings, within a specified period after the equity offering, at a redemption price of 113.25% the principal amount of the Senior Secured Notes, plus accrued and unpaid interest, if any, to (but not including) the redemption date, provided that at least 65% of the aggregate principal amount of the Senior Secured Notes issued on May 3, 2013 remain outstanding after each such redemption.

Following any Change of Control Triggering Event, the Company must make an offer to purchase all outstanding Senior Secured Notes at a purchase price equal to 101.0% of the principal amount thereof plus accrued and unpaid interest, if any to (but not including) the offer to purchase payment date. A "Change of Control Triggering Event" means the occurrence of both a Change of Control (as defined in the Indenture) and specified decline in the ratings of the Senior Secured Notes within six month after the date of public notice of the occurrence of a Change of Control or the intention by the Company or any other person to effect a Change of Control.

The Company has evaluated and determined that there was no embedded derivative requiring bifurcation from the Senior Secured Notes under the requirements of ASC815. The embedded optional redemption options and repurchase features did not qualify for derivative accounting because the embedded derivatives were considered clearly and closely related to the characteristics of the Secured Senior Notes.

The Indenture contains certain covenants that, among others, restrict the Company's ability and the ability of the Company's Restricted Subsidiaries (as defined in the Indenture) to incur additional debt or to issue preferred stock, to make certain payments or investments, to pay dividends or purchase of redeem capital stock, to sell assets (including limitations on the use of proceeds of asset sales), to grant liens on the collateral securing the Senior Secured Notes or other assets, to make certain other payments or to engage in transactions with affiliates and holder of more than 10% of the Company's Common Shares, subject to certain qualifications and exceptions and satisfaction, in certain circumstances of specified conditions, such as a Consolidated Fixed Charge Coverage Ratio (as defined in the Indenture) of 3.0 to 1.0.

The Company was in compliance with its financial ratio covenants under the Senior Secured Note as of June 30, 2013.

Income taxes

6 Months Ended

Jun. 30, 2013

Income taxes [Abstract]

Income taxes

7. Income taxes

(a) Effective tax rate

Our effective income tax rate ("ETR") was 32.8% in the first six months of 2013 compared to 9.4% in the first six months of 2012. The ETR was different from the statutory tax rate of 25% due to the effect of land appreciation tax ("LAT"), the corporate income tax ("CIT") benefit of LAT, outside basis differences, and also changes in unrecognized tax benefits. The change in the effective income tax rate is primarily due to a non-recurring reversal of LAT liabilities recognized as an unrecognized tax benefit of approximately US$22.8 million in the second quarter of 2012 related to three completed projects that were liquidated and settled with the local tax bureaus on favorable terms.

(b) Liability for unrecognized tax benefit

The following table summarizes the activity related to the Group's unrecognized tax benefits:

	US$

Balance as of December 31, 2012		8,842,239
Additions for tax position of current year		7,278,752
Movement in current year due to expiration of limitations period		(8,842,239	)
Balance as of June 30, 2013		7,278,752

The current year movement in the liability for unrecognized tax benefits of US$7,278,752 was mainly due to the application of the deemed profit method by the local tax authority of Zhengzhou city for Henan Xinyuan Real Estate Co., Ltd.'s fiscal year 2012 PRC income tax return. The remaining change of US$8,842,239 was recognized as a reduction of unrecognized tax benefits due to the expiration of the five-year statute of limitations period for Henan Xinyuan Real Estate Co., Ltd..

Related party and employee transactions

6 Months Ended

Jun. 30, 2013

8. Related party and employee transactions

(a) Amounts due from employees

	December 31, 2012		June 30, 2013
	US$		US$
	(Audited)		(Unaudited)
Advances to employees		133,377		-

The balance at December 31, 2012 represents cash advances to employees for traveling expenses and other expenses. The balances bear no interest and have no fixed payment terms.

(b) Others

The Company entered into a consulting agreement with a consulting company that is beneficially owned by Yong Cui ("Dr. Cui"), one of the directors of the Company, in April 2005. Under this agreement, the consulting company agreed to provide certain financial consulting services to the Company. This consulting agreement was renewed in December 2006, under which the Company agreed to pay an annual fee of RMB240,000 or US$30,735. In February 2010, the Company renewed this consulting agreement, under which the Company agreed to pay an annual fee of RMB500,000 or US$77,382 at the then prevailing exchange rate. In January 2011, the consulting activities were expanded to include development of commercial real estate in China and residential real estate in the U.S. as well as development of financing channels in Asia. The Company agreed to pay an annual fee of US$600,000 for these services from January 2011 forward pursuant to a contract entered into in April 2012, which was further amended in December 2012. Under this agreement, Dr. Cui was paid US$150,000 in 2011, US$1,050,000 in 2012 and US$300,000 in the first six months of 2013 for services performed in 2011, 2012 and the first six months of 2013. As of June 30, 2013 and December 31 2012, there were no consulting fee balances due to Dr. Cui.

The Company entered into a business development advisory services agreement with Karmen Equities Limited, of which Omer Ozden, a director of the Group until September 19, 2013, is a minority shareholder, in November 2011. The term of this agreement is six months with advisory fees based on an hourly rate; the agreement shall be automatically renewed for an additional six month period upon expiration on a continuous basis. During the first half year of 2013, the Company paid Karmen Equities Limited US$76,942. There were no balances due to Karmen Equities Limited as of June 30, 2013 and December 31, 2012.

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Equity	6 Months Ended
Equity	Jun. 30, 2013
Equity [Abstract]
Equity	9. Equity As at December 31, 2012 and June 30, 2013, the Company's authorized share capital was 500 million common shares, par value US$0.0001 per share. In November 2007, the Company adopted the 2007 Long Term Incentive Plan (the "2007 Plan") which provides for the grant of options, restricted shares, restricted stock units, stock appreciation rights and other stock-based awards to purchase its common shares. The maximum aggregate number of common shares which may be issued pursuant to all awards, including options, is 10 million common shares, subject to adjustment to account for changes in the capitalization of the Company. There were no new option grants during the six months ended June 30, 2013. (i) During the year ended December 31, 2012, 76,095 options were exercised at US$0.0001 per share under the 2007 Plan. (ii) During the year ended December 31, 2012, 43,980 options were exercised at US$1.21 per share under the 2007 Plan. (iii) During the year ended December 31, 2012, 33,500 options were exercised at US$1.365 per share under the 2007 Plan. (iv) On June 19, 2012 the Company announced a new share repurchase program of up to US$20 million. During the year ended December 31, 2012, 4,091,650 common shares were repurchased at a total cost of US$5,708,281. (v) During the year ended December 31, 2012, the Company distributed dividends to common shareholders of US$8,769,530. (vi) During the six months ended June 30, 2013, 133,332 options were exercised at US$1.82 per share under the 2007 Plan. (vii) During the six months ended June 30, 2013, 1,279,020 options were exercised at US$1.21 per share under the 2007 Plan. (viii) During the six months ended June 30, 2013, 2,629,716 common shares were repurchased at a total cost of US$5,767,159. (ix) During the six months ended June 30, 2013, the Company distributed dividends to common shareholders of US$7,181,861.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
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Reference 18: http://www.xbrl.org/2003/role/presentationRef
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
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Earnings per share

6 Months Ended

Jun. 30, 2013

Earnings per share [Abstract]

Earnings per share

10. Earnings per share

Basic and diluted net earnings per share for each period presented are calculated as follows:

	Six months ended June 30,
	2012		2013
	US$		US$
Numerator:
Net income		91,499,714		65,976,255
Net income attributable to Xinyuan Real Estate Co., Ltd. shareholders-basic and diluted		91,499,714		65,976,255
Denominator:
Number of shares outstanding, basic		145,890,338		142,437,384
Weighted average number of stock options		509,465		2,190,548

Number of shares outstanding-diluted		146,399,803		144,627,932

Basic earnings per share		0.63		0. 46

Diluted earnings per share		0.62		0.46

During the period ended June 30, 2013, 1,633,868 (June 30, 2012: 2,365,623) stock options were excluded from the calculation of earnings per share because their effect would be anti-dilutive.

Segment reporting

6 Months Ended

Jun. 30, 2013

Segment reporting [Abstract]

Segment reporting

11. Segment reporting

The Group's long-lived assets and revenue are mainly located in and derived from the PRC. Starting in 2012, a small portion of the Group's long-lived assets and revenue are located in and derived from the United States. The Group considers that each of its individual property developments is a discrete operating segment. The Group has aggregated its segments in the PRC on a provincial basis as property development projects undertaken within a province have similar expected economic characteristics, type of properties offering, customers and market and regulatory environment. The Group's reportable operating segments are comprised of Henan Province, Shandong Province, Jiangsu Province, Sichuan Province, Anhui Province and Beijing, in the PRC; and the United States.

Each geographic operating segment is principally engaged in the construction and development of residential real estate units. The "other" category relates to investment holdings, property management services, installation of intercom systems, landscaping, engineering and management, real estate sale, purchase and lease activities. The accounting policies of the various segments are the same as those described in Note 2, "Summary of Significant Accounting Policies".

The Group's chief operating decision maker relies upon net sales, gross profit and net income when making decisions about allocating resources and assessing performance of the Group. Net sales for geographic segments are generally based on the location of the project development. Net income for each segment includes net sales to third parties, related cost of sales and operating expenses directly attributable to the segment.

No single customer accounted for more than 10% of net sales for the six months ended June 30, 2012 and 2013.

Summary information by operating segment is as follows:

June 30, 2012	Henan			Shandong			Jiangsu			Anhui			Sichuan			Beijing			United States			Others			Consolidated
	US$			US$			US$			US$			US$			US$			US$			US$			US$

Total revenue		179,066,196			45,248,339			146,240,351			52,716			48,906,941			-			-			6,128,584			425,643,127
Total cost of revenue		(110,715,421	)		(36,598,157	)		(108,725,734	)		(25,625	)		(37,430,412	)		-			-			(5,430,842	)		(298,926,191	)
Gross profit		68,350,775			8,650,182			37,514,617			27,091			11,476,529			-			-			697,742			126,716,936
Operating income (loss)		55,122,869			7,190,582			32,614,853			18,242			10,024,112			(227,477	)		(679,944	)		(5,110,691	)		98,952,546
Total assets		699,936,751			220,334,447			301,318,230			10,203,396			110,522,860			16,718,076			260,589			37,888,921			1,397,183,270

June 30, 2013	Henan			Shandong			Jiangsu			Anhui			Sichuan		Beijing			United States			Others			Consolidated
	US$			US$			US$			US$			US$		US$			US$			US$			US$

Total revenue		169,560,784			128,993,914			48,967,327			(508	)		7,789,307		-			5,225,589			7,376,131			367,912,544
Total cost of revenue		(95,887,711	)		(101,898,836	)		(36,266,033	)		(25,854	)		2,658,692		-			(5,057,573	)		(5,883,170	)		(242,360,485	)
Gross profit		73,673,073			27,095,078			12,701,294			(26,362	)		10,447,999		-			168,016			1,492,961			125,552,059
Operating income (loss)		59,819,738			24,303,748			10,634,320			(31,377	)		9,897,330		(2,371,295	)		(391,330	)		(3,407,411	)		98,453,723

Total assets		641,848,343			266,962,367			309,739,992			9,928,853			97,543,140		193,505,373			31,486,105			242,214,336			1,793,228,509

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Name Accounting Standards Codification
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Commitments and Contingencies[Abstract]

Commitments and contingencies

6 Months Ended

Jun. 30, 2013

Commitments and contingencies

12. Commitments and contingencies

The Group leases certain of its office properties under non-cancellable operating lease arrangements. Payments under operating leases are expensed on a straight-line basis over the periods of their respective leases, and the terms of the leases do not contain rent escalation, or contingent rent, renewal, or purchase options. There are no restrictions placed upon the Group by entering into these leases.

Commitments

Operating lease commitments

As of June 30, 2013, the Group had the following operating lease obligations falling due:

	Amount
	US$

July 1, 2013 - June 30, 2014		2,411,002
July 1, 2014 - June 30, 2015		1,996,130
July 1, 2015 - June 30, 2016		1,461,747
July 1, 2016 - June 30, 2017		100,126
July 1, 2017 and thereafter		150,189

Total		6,119,194

Other commitments

On October 23, 2012, the Group entered into a capital lease agreement to purchase a corporate aircraft. The capital lease will commence upon delivery of the corporate aircraft. The corporate aircraft was delivered on September 12, 2013. As of the capital lease commencement date, the Group will measure a capital lease asset and capital lease obligation at an amount equal to the present value of the minimum lease payments during the lease term, excluding the portion of the payments representing executory costs (such as insurance, maintenance, and taxes to be paid by the lessor) as well as any profit thereon. As of June 30, 2013, the Company is contractually committed to pay the following amounts:

	Amount
	US$
	(Unaudited)
July 1, 2013 - June 30, 2014		3,627,428
July 1, 2014 - June 30, 2015		4,582,014
July 1, 2015 - June 30, 2016		4,582,014
July 1, 2016 - June 30, 2017		4,582,014
July 1, 2017 and thereafter		19,282,642

Total		36,656,112

As of June 30, 2013, the Group also had outstanding commitments under non-cancelable management and insurance contracts related to the corporate aircraft as follows:

	Amount
	US$
	(Unaudited)
July 1, 2013 - June 30, 2014		763,510
July 1, 2014 - June 30, 2015		254,503

Total		1,018,013

As of June 30, 2013, the Group had outstanding commitments with respect to non-cancelable construction contracts for real estate development and land use rights purchases as follows:

	Amount
	US$
Due within 1 year		145,723,296

Contingencies

As at June 30, 2013, the Group provided guarantees of US$1,016,943,176 (December 31, 2012: US$951,053,313), in favor of its customers in respect of mortgage loans granted by banks to such customers for their purchases of the Group's properties where the underlying real estate ownership certificates can be provided to the banks only on a time delay manner due to administrative procedures in the PRC. Pursuant to the terms of the guarantees, upon default in mortgage payments by these purchasers, the Group is responsible to repay the outstanding mortgage principal together with the accrued interest and penalty owed by the defaulted purchasers to the bank and the Group is entitled to take over the legal titles and possession of the related properties. The Group's guarantee period starts from the date of grant of the relevant mortgage loan and ends upon issuance of real estate ownership certificate which will generally be available within six to twelve months after the purchaser takes possession of the relevant property.

The fair value of the guarantees is not significantly different than the net realizable value of the properties and management considers that in case of default in payments, the net realizable value of the related properties can cover the repayment of the outstanding mortgage principal together with the accrued interest and penalty and therefore no provision has been made for the guarantees.

In the prior years, the Company has settled the LAT for three of its projects based on the deemed profit method, which was approved by the local tax bureau. The Company believes that it is reasonably possible that in future periods, the federal tax bureau may conclude that the deemed profit method used by the Company in settling LAT for these three projects is not appropriate. Except the project of Zhengzhou Jiantou Xinyuan United Real Estate Co., Ltd., which liquidated on April 6, 2012, the estimated amount for the contingency of the other two projects is US$22.8 million.

Accumulated other comprehensive income

6 Months Ended

Jun. 30, 2013

Accumulated other comprehensive income [Abstract]

Accumulated other comprehensive income

13. Accumulated other comprehensive income

The movement of accumulated other comprehensive income is as follows:

	Foreign currency translation adjustments

Balance as of December 31, 2012		82,000,020
Other comprehensive income (unaudited)		14,249,738
Balance as of June 30, 2013		96,249,758

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

Summary of significant accounting policies [Abstract]

Non-controlling interest

6 Months Ended

Jun. 30, 2013

Non-controlling interest [Abstract]

Non-controlling interest

14. Non-controlling interest

A reconciliation of the carrying amounts of Zhengzhou Jiantou Xinyuan United Real Estate Co., Ltd is as follows:

	June 30, 2012						June 30, 2013
	(Unaudited)						(Unaudited)
	Group			Non-controlling interests			Group		Non-controlling interests
Beginning balance		1,204,118			1,111,494			-		-
Net income		1,203,701			1,111,109			-		-
Other comprehensive income		10,361			9,564			-		-
Distribution to non-controlling interest shareholders		(2,418,180	)		(2,232,167	)		-		-

Ending balance		-			-			-		-

On April 6, 2012, Zhengzhou Jiantou Xinyuan United Real Estate Co., Ltd was liquidated.

Subsequent events	6 Months Ended
Subsequent events	Jun. 30, 2013
Subsequent events [Abstract]
Subsequent events	15. Subsequent events On July 12, 2013, the Board of Directors unanimously authorized management to repurchase up to US$60 million of the Company's shares (the 2015 Repurchase Program) from the approval date to the end of 2015. The Board of Directors also agreed to review the Company's share repurchase program periodically and to adjust the amount authorized for repurchase as necessary. Pursuant to a Securities Purchase Agreement entered into on September 19, 2013, the Company issued and sold a Senior Secured Convertible Note in the aggregate principal amount of US$75,761,009 (the "Convertible Note") and 12,000,000 Common Shares (the "Common Shares") to an institutional investor. The Company received gross proceeds of approximately US$108,600,000 from the issuance of the Convertible Note and the sale of the Common Shares. The Convertible Note bears interest at 5.00% per annum payable semi-annually. Interest is payable on March 19 and September 19 of each year, commencing March 19, 2014. The final maturity date of the Convertible Note is September 19, 2018. On September 16, 2013, the Company acquired a parcel of land in Xingyang, Henan Province for a purchase price of RMB116.6 million, equivalent to US$19.0 million. On September 27, 2013, the Company acquired a parcel of land in Suzhou, Jiangsu Province for a purchase price of RMB1.0 billion, equivalent to US$163 million. On September 30, 2013, the Company acquired two parcels of land which are adjacent to one another in the Er Qi District of Zhengzhou, Henan Province for a purchase price of RMB321.0 million, equivalent to US$52.0 million. On October 18, 2013, Kunshan Xinyuan Real Estate Co., Ltd., a subsidiary of the Company, completed a purchase of a residential real estate project in Kunshan, Jiangsu Province by acquiring 100% of the equity interest of the project developer, Jiangsu Jiajing Real Estate Company, a local privately-held real estate company in Kunshan for a total acquisition price of RMB844.1 million (approximately US$137.3 million). The total acquisition price includes an assumption of approximately RMB276 million (approximately US$45 million) of the acquired entity's existing debt and former shareholder's loans. The Company is in the process of evaluating the acquisition accounting treatment as well as future LAT and CIT tax impact associated with this acquisition. On October 21, 2013, Henan Xinyuan Real Estate Co., Ltd., a subsidiary of the Company, completed a purchase of 51% of the equity interest of Shaan'xi Zhongmao Economic Development Co., Ltd. ("Shaan'xi Zhongmao") in Xi'an city, Shaan'xi province, for a total acquisition price of RMB36.9 million (approximately US$6.0 million). The Company intends to use Shaan'xi Zhongmao to seek real estate development opportunities in Xi'an city. The Company is in the process of evaluating the acquisition accounting treatment as well as future tax impact associated with this acquisition.

Summary of significant accounting policies (Policies)

6 Months Ended

Jun. 30, 2013

The Company and basis of presentation and consolidation

(a) The Company and basis of presentation and consolidation

Xinyuan Real Estate Co. Ltd. (the "Company") and its subsidiaries (collectively the "Group") are principally engaged in residential real estate development and the provision of property management services. The Group's operations are conducted mainly in the People's Republic of China ("PRC"). In 2012, the Group expanded its business into the U.S. residential real estate market. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP"). The unaudited condensed consolidated financial statements include the financial statements of the Company, and its subsidiaries. All inter-company transactions and balances between the Company and its subsidiaries have been eliminated upon consolidation.

Use of Estimates

(b) Use of Estimates

Foreign currency translation

(c) Foreign currency translation

The effects of foreign currency translation adjustments are included as a component of accumulated other comprehensive income in shareholders' equity.

	June 30, 2012		December 31, 2012		June 30, 2013
	(Unaudited)		(Audited)		(Unaudited)
Year end RMB: US$ exchange rate		6.3249		6.2855		6.1787
Period average RMB: US$ exchange rate		6.3076		6.3124		6.2422

Senior Secured Notes

(d) Senior Secured Notes

Deferred charges

(e) Deferred charges

Earnings per share

(f) Earnings per share

Effect of change in estimate

(g) Effect of change in estimate

Recent Accounting Pronouncements

(h) Recent Accounting Pronouncements

Background information of business and organization (Tables)

6 Months Ended

Jun. 30, 2013

Background information of business and organization [Abstract]

Schedule of Subsidiaries

The Company's subsidiaries as of June 30, 2013 are set out below:

Company Name	Registered/Place and Date of Incorporation	Paid-up Capital		Percentage of Equity Directly Attributable to the Group			Principal Activities

Subsidiary companies:
Xinyuan International Property Investment Co., Ltd.	Cayman Islands October 6, 2011	US$	500,000		100	%	Investment holding company

Xinyuan International (HK) Property Investment Co., Limited.	Hong Kong October 26, 2011	HK$	3,000,000		100	%	Investment holding company

XIN Development Group International Inc.	United States November 10, 2011	US$	0		100	%	Investment holding company

Xinyuan Real Estate, Ltd. ("Xinyuan")	Cayman Islands January 27, 2006	US$	50,000,000		100	%	Investment holding company

South Glory International Ltd.	Hong Kong January 17, 2001	HK$	10,000		100	%	Investment holding company

Victory Good Development Ltd.	Hong Kong January 17, 2001	HK$	10,000		100	%	Investment holding company

Elite Quest Holdings Ltd.	Hong Kong November 19, 2001	HK$	10,000		100	%	Investment holding company

XIN Irvine, LLC	United States July 12, 2012	US$	50,000		100	%	Real estate development

Vista Sierra, LLC	United States May 1, 2012	US$	0		100	%	Real estate development

XIN Development Management East, LLC	United States August 28, 2012	US$	1,000		100	%	Property management services

XIN NY Holding, LLC	United States August 29, 2012	US$	1,000		100	%	Investment holding company

421 Kent Development, LLC	United States August 29, 2012	US$	1,000		100	%	Real estate development

Company Name	Registered/Place and Date of Incorporation	Paid-up Capital		Percentage of Equity Directly Attributable to the Group			Principal Activities

Subsidiary companies:
Xinyuan (China) Real Estate, Ltd. ("WFOE")	The PRC April 10, 2006	US$	307,000,000		100	%	Investment holding company

Henan Xinyuan Real Estate Co., Ltd. ("Henan Xinyuan")	The PRC May 19, 1997	RMB	200,000,000		100	%	Real estate development

Qingdao Xinyuan Xiangrui Real Estate Co., Ltd.	The PRC February 9, 2006	RMB	10,000,000		100	%	Real estate development

Shandong Xinyuan Real Estate Co., Ltd.	The PRC June 2, 2006	RMB	300,000,000		100	%	Real estate development

Xinyuan Property Service Co., Ltd.	The PRC December 28, 1998	RMB	50,000,000		100	%	Property management services

Zhengzhou Mingyuan Landscape Engineering Co., Ltd.	The PRC February 17, 2004	RMB	2,000,000		100	%	Landscaping engineering and management

Zhengzhou Xinyuan Computer Network Engineering Co., Ltd.	The PRC May 26, 2004	RMB	2,000,000		100	%	Installation of intercom systems

Henan Wanzhuo Real Estate Co., Ltd.	The PRC December 29, 2011	RMB	20,000,000		100	%	Real estate development

Suzhou Xinyuan Real Estate Development Co., Ltd.	The PRC November 24, 2006	RMB	200,000,000		100	%	Real estate development

Anhui Xinyuan Real Estate Co., Ltd.	The PRC December 7, 2006	RMB	50,000,000		100	%	Real estate development

Kunshan Xinyuan Real Estate Co., Ltd.	The PRC January 31, 2008	RMB	200,000,000		100	%	Real estate development

Xinyuan Real Estate (Chengdu) Co., Ltd.	The PRC June 12, 2007	RMB	220,000,000		100	%	Real estate development

Xuzhou Xinyuan Real Estate Co., Ltd.	The PRC November 09, 2009	RMB	50,000,000		100	%	Real estate development

Henan Jiye Real Estate Co., Ltd.	The PRC November 15, 2009	RMB	50,000,000		100	%	Real estate development

Beijing Xinyuan Wanzhong Real Estate Co., Ltd.	The PRC March 4, 2008	RMB	30,000,000		100	%	Real estate development

Beijing Heju Construction Material Co. Ltd.	The PRC January 16, 2009	RMB	30,000,000		100	%	Real estate development

Xinyuan Renju (Beijing) Asset Management Co., Ltd.	The PRC January 16, 2009	RMB	30,000,000		100	%	Real estate development

Company Name

Registered/Place and
Date of Incorporation

Paid-up
Capital

Percentage
of Equity
Directly
Attributable
to the Group

Principal Activities

Subsidiary companies:

Zhengzhou Jiantou Xinyuan Real Estate Co., Ltd. ("Jiantou Xinyuan")

The PRC
June 13, 2005

RMB

10,000,000

100

Real estate development

Beijing Xinyuan Priority Real Estate Consulting Co., Ltd.

The PRC
March 8, 2012

RMB

30,000,000

100

Leasing management services

Henan Xinyuan Priority Commercial Management Co., Ltd.

The PRC
August 10, 2012

RMB

2,000,000

100

Leasing management services

Suzhou Xinyuan Wanzhuo Real Estate Co., Ltd.

The PRC
September 20, 2012

RMB

200,000,000

100

Real estate development

Beijing Xinyuan Jiye Real Estate Co., Ltd.

The PRC
February 17, 2013

RMB

200,000,000

100

Real estate development

Xinyuan Sailing Co., Ltd.

Hong Kong
June 21, 2013

HK$

3,000,000

100

Investment holding company

Summary of significant accounting policies (Tables)

6 Months Ended

Jun. 30, 2013

Summary of significant accounting policies [Abstract]

Schedule of Foreign Currency Translation Exchange Rates

The effects of foreign currency translation adjustments are included as a component of accumulated other comprehensive income in shareholders' equity.

	June 30, 2012		December 31, 2012		June 30, 2013
	(Unaudited)		(Audited)		(Unaudited)
Year end RMB: US$ exchange rate		6.3249		6.2855		6.1787
Period average RMB: US$ exchange rate		6.3076		6.3124		6.2422

Real estate property under development and held for sale (Tables)

6 Months Ended

Jun. 30, 2013

Real estate property under development and held for sale [Abstract]

Schedule Of Real Estate Property Completed And Under Development

The following summarizes the components of real estate property under development and held for sale at December 31, 2012 and June 30, 2013:

	December 31, 2012			June 30, 2013
	US$			US$
	(Audited)			(Unaudited)
Under development:
Current:
Xuzhou Colorful Garden		21,238,889			-
Zhengzhou Modern City		57,408,025			25,625,742
Zhengzhou Century East A		53,604,699			37,728,545
Zhengzhou Century East B		98,948,705			33,183,100
Zhengzhou Royal Palace		98,557,509			23,345,035
Jinan Xinyuan Splendid		297,909,913			200,044,365
Kunshan International City Garden		123,002,290			51,976,937
Chengdu Xinyuan Splendid II		41,573,242			-
Zhengzhou Yipin Xiangshan Phase II		56,189,379			2,862,432
Xuzhou New Land (Xuzhou Colorful City)		39,943,324			41,592,596
Zhengzhou New Land (Zhengzhou XIN City)		97,601,917			111,287,763
Suzhou New Land (Suzhou XIN City)		44,942,686			50,280,884
Beijing New Land (Beijing Xindo Park)		170,596,964			177,688,031
New York New Land		55,587,073			58,748,611
		1,257,104,615			814,364,041
Profit recognized		279,176,906			138,716,685
Less: progress billings		(813,462,059	)		(347,407,266	)

Total real estate property under development		722,819,462			605,673,460

Northern Nevada Land Portfolio		1,191,200			818,000
Lennox Project		10,000,000			5,679,566
Real estate property held for sale		11,191,200			6,497,566

Total real estate property under development and held for sale		734,010,662			612,171,026

Short-term bank loans and other debt (Tables)

6 Months Ended

Jun. 30, 2013

Schedule of Short-Term Loans

	December 31,		June 30,
	2012		2013
	US$		US$
	(Audited)		(Unaudited)
Loan from Agricultural Bank of China (Singapore)
Due September 21, 2013, at 1.1% plus LIBOR		-		10,000,000
		-		10,000,000

Loan from Bank of Zhengzhou
Due December 18, 2013, at 7.20% per annum		28,637,340		-
Due February 21, 2014, at 7.20% per annum		-		22,982,181
		28,637,340		22,982,181

Loan from China Guangfa Bank
Due December 26, 2013, at 6.00% per annum		19,091,560		19,421,561
Due January 17, 2014, at 6.60% per annum		-		2,594,397
		19,091,560		22,015,958
Loan from Industrial and Commercial Bank of China ("ICBC")
Due April 8, 2013, at 7.98% per annum		4,772,890		-
Due May 8, 2013, at 7.98% per annum		6,363,853		-
Due May 9, 2013, at 2.80% plus LIBOR		15,000,000		-
Due November 30, 2014, at 1.90% plus LIBOR*		10,000,000		10,000,000
Due September 19, 2013, at 1.30% plus LIBOR*		-		20,000,000
Due September 19, 2013, at 1.30% plus LIBOR*		-		15,000,000
		36,136,743		45,000,000

Loan from Beta Capital, LLC**
Due September 19, 2013, at 4.25% per annum		29,200,000		29,200,000
		29,200,000		29,200,000

Total short-term bank loans and other debt		113,065,643		129,198,139

Long-term bank loans (Tables)

6 Months Ended

Jun. 30, 2013

Schedule of Long-Term Bank Loans

Long-term bank loans as of December 31, 2012 and June 30, 2013 consisted of the following:

	December 31, 2012			June 30, 2013
	US$			US$
	(Audited)			(Unaudited)

Loan from ICBC
Due November 2, 2013 at 6.15% per annum		7,954,817			8,092,317
Due October 18, 2013 at 6.15% per annum		33,092,037			25,733,569
Due November 1, 2013 at 7.38% per annum		15,591,440			10,681,859
Due November 1, 2013 at 7.68% per annum		7,954,817			8,092,317
Due September 21, 2013 at 7.68% per annum		4,772,890			4,855,390
Due August 21, 2013 at 7.68% per annum		7,954,817			8,092,317
		77,320,818			65,547,769

Loan from Agricultural Bank of China (Singapore)
Due July 12, 2014, at 2.40% plus LIBOR*		15,000,000			15,000,000
Due September 10, 2014, at 2.00% plus LIBOR*		10,000,000			10,000,000
		25,000,000			25,000,000

Loan from ICBC (Thai) Public Company Limited
Due November 29, 2014, at 2.10% plus LIBOR**		10,000,000			10,000,000
		10,000,000			10,000,000

Loan from Agricultural Bank of China
Due April 23, 2013, at 5.84% per annum		13,364,092			-
Due May 5, 2013, at 6.15% per annum		12,886,803			-
Due May 19, 2013, at 5.84% per annum		12,091,321			-
Due June 30, 2014, at 6.77% per annum		-			16,184,635
		38,342,216			16,184,635

Loan from China Guangfa Bank
Due May 31, 2014, at 6.72% per annum		-			16,184,635
Due December 31, 2014, at 6.72% per annum		-			24,276,951
Due May 31, 2015, at 6.72% per annum		-			24,276,951
		-			64,738,537

Loan from Bank of China
Due May 26, 2013, at 7.07% per annum		9,354,864			-
		9,354,864			-

Total		160,017,898			181,470,941

Less: current portion of long term bank loans		(125,017,898	)		(97,917,038	)

Total long-term bank loans		35,000,000			83,553,903

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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