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China Resources Land sees 10.9% YOY growth in May contracted sales

Diversified property developer China Resources Land Ltd. saw a 10.9% year-over-year growth in its contracted sales during May to about 15.64 billion yuan from 12.14 billion yuan.

For the reporting month, the Hong Kong-listed company contracted about 975,365 square meters of property, 18.9% higher than a year earlier.

China Resources' rental income from investment properties increased 26% on an annual basis in May to 742 million yuan. For January to May, its accumulated rental income jumped 26% year over year to an estimated 3.62 billion yuan.

As of June 11, US$1 was equivalent to 6.40 Chinese yuan.