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Yanlord Land Group forms new Chinese property subsidiary

A Yanlord Land Group Ltd. unit in Shanghai has created a new subsidiary with a registered capital of 5.0 million Chinese yuan.

Yanlord Property Service Management (China) Co. Ltd. established Shanghai Yanlord Land Property Management Service Co. Ltd., which will be mainly involved in property management services.

Yanlord Property owns a 100% shareholding interest in the newly created subsidiary.

As of Jan. 26, US$1 was equivalent to 6.88 Chinese yuan.