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China Resources Land wins auction for residential site for 2.23B yuan

China Resources Land Ltd. acquired a 55,200-square-meter land plot in China's Jiangsu province in an auction after placing the winning bid of 2.23 billion yuan, Guandian reported Aug. 12.

The bid was 44.9% above the reserve price of the residential site, which has a gross floor area of 126,400 square meters, the report added.

As of Aug. 12, US$1 was equivalent to 7.06 Chinese yuan.