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Risesun receives go-ahead to issue 7B yuan of debt financing

Risesun Real Estate Development Co. Ltd. has obtained the green light from China's National Association of Financial Market Institutional Investors to issue 7.00 billion yuan of debt financing.

The validity period of the approval will run for two years from Oct. 13, with the first issue to take place within six months of the date, according to a release.

As of Oct. 16, US$1 was equivalent to 6.59 Chinese yuan.