A security guard stands outside the Guangdong International Hotel, a major asset of the failed Guangdong International Trust and Investment Corp (Gitic) in Guangzhou. The firm's liquidators successfully auctioned its Guangzhou headquarters yesterday after two failed attempts. Guangdong International Building, a 63-storey hotel, office, residential and retail complex, sold for 1.13 billion yuan (about HK$1.05 billion), representing a 30 per cent discount to the liquidators' original asking price of 1.6 billion yuan, which attracted no bids at the first auction last December. The price was lowered to 1.3 billion yuan for the second auction in January. Bidding was spirited yesterday after auctioneers unveiled their new asking price of 1.05 billion yuan. Representatives of the successful buyer, reportedly a Shanghai-based privately owned enterprise, declined to identify themselves after the auction.