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Updated Saturday, March 13, 2010 12:41 am TWN, Bloomberg

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China Resources Land falls due to possible suspension

BEIJING -- China Resources Land Ltd., a state-controlled property developer, fell in Hong Kong Friday after the Beijing land bureau said it may suspend the company from transactions in the Chinese capital city. China Resources, which was included in the Hang Seng Index on March 8, fell 2.3 percent to close at HK$16.98 in Hong Kong, making it Friday's second-biggest decliner on the measure.

The Beijing Municipal Bureau of Land and Resources said it would “temporarily suspend” China Resources Development (Beijing) Ltd. and its controlling shareholders from buying and selling land in the capital city if it doesn't start work on a residential project in the Fung village by March 31, according to a March 10 statement.

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