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Aoyuan Unit Buys Land in Guangzhou for 669 Million Yuan

China Aoyuan Property Group Ltd. said a unit bought land through public auction in Guangzhou for a total 669 million yuan yesterday.

The two parcels of land were auctioned by the Guangzhou land bureau and a third party, the company said in a statement to the Hong Kong stock exchange today. The land, in central district, Guangzhou south station, is designated for commercial and financial use, the company said.

The purchase will be funded from internal resources, it said.

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