[China Resources Land responded to the use of 20 billion yuan of corporate bonds: 11.5 billion yuan is planned to be used to repay maturing corporate bonds and 8.5 billion yuan will be invested in core city projects] November 2, China Resources Land’s 20 billion yuan corporate bonds have recently received registration approval from the China Securities Regulatory Commission. As for the use of this large amount of financing, China Resources Land responded today that 11.5 billion yuan is planned to be used to repay maturing corporate bonds, and 8.5 billion yuan will be invested in residential projects that meet policy requirements in core cities such as Beijing, Shanghai, and Hangzhou. It is understood that this corporate bond is the first batch of approved and largest-registered corporate bonds for real estate companies after the release of a series of real estate financing policies on August 28. It is also a landmark practice in the capital market’s new model of supporting real estate development. The bond will be issued and listed on the Shenzhen Stock Exchange in installments. (Reporter Wang Haichun)