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Hangzhou Binjiang subsidiary wins 1.03B yuan land in China

A subsidiary of Hangzhou Binjiang Real Estate Group Co. Ltd. won a site in Wezhou, China, Reuters reported, citing a Chinese filing.

The Dec. 27 brief noted that the subsidiary secured the property after placing the winning 1.03 billion yuan bid during an auction.

As of Dec. 27, US$1 was equivalent to 6.56 yuan.