Residents in a village in south China’s Guangdong province became rich overnight when the village decided to distribute the 990 million yuan acquired from a land sale to its residents, Southern Metropolis Daily reported on Thursday.

According to the distribution plan approved by the board of the Dadun village in Foshan city in Guangdong, the 990 million yuan will be divided into 6,249 shares, with each villager receiving two to three shares.

Through this distribution, some families will get millions. A villager surnamed Zhang disclosed that his family holds nine shares in total.

Bank clerks distribute money to villagers.

The local bank responsible for the distribution service even began to promote their wealth management services to the residents.

With such a great amount of money, some villagers are thinking about saving money for future investment, while others are considering travelling and purchasing cars as well as property.

Besides the large sum of money, they will also get villas according to their hukou, or household registration, the report said.

As urbanization progresses, some cities in China have launched plans in recent years to renovate the villages on their outskirts and in downtown areas. Residents of those villages usually get considerable compensation for sale of their land.

Foshan is one such case. Last month, villagers in Tengchong village, located beside Dadun village, got a total of 1 billion yuan in dividends for their land sale.