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Fosun International buys site in southern China for 3.48B yuan

Fosun International Ltd. placed the winning bid of 3.48 billion yuan for a mixed residential-commercial site in Zhuhai city in southern China, Guandian reported.

The site, auctioned Dec. 26, has an area of 255,000 square meters and a plot ratio of 1.66, according to the same-day report.

As of Dec. 25, US$1 was equivalent to 6.99 Chinese yuan.