Guangzhou R&F Properties Co. Ltd. obtained approval from the China Securities Regulatory Commission to issue up to 13 billion yuan of corporate bonds within 24 months.

The approval permits the Chinese property company to issue corporate bonds to qualified investors in multiple tranches within the shelf's term.

The registration of the shelf was done pursuant to the resolution that was approved during an annual general meeting of the company, according to a filing.

As of Oct. 8, US$1 was equivalent to 6.93 yuan.