State-owned conglomerate CITIC Group on Dec. 7 offered RMB 6.3 billion to acquire a piece of land in Beijing, sources reported.
 
If the deal is done, the price will be the highest land transfer payment in the city. Three bidders joined in the land bid.
 
The offer price of Dalian Wanda Group Co Ltd was RMB 4.5 billion, and that of HNA Group, the parent firm of China’s largest non-state owned airline Hainan Airline Co Ltd<600221><900945>, was RMB 5.95 billion.
 
The target plot, which will have a floor area of 350,000 square meters, is located in CBD, Chaoyang District, Beijing.
 
 
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