Shanghai’s license plate prices bounce back
Car license plate prices in Shanghai rebounded slightly at the year’s last auction, with an average winning bid of 76,093 yuan ($12,540), up 376 yuan from the previous month, Chinanews.com reported.
The government has announced a 72,600 yuan ceiling for car plate auctions throughout 2014, when 100,000 license plates will be issued.
Meanwhile, China’s northern municipality of Tianjin will restrict traffic and issue new car license plates via bidding and lottery in a drive to fight traffic jam and air pollution.
The city of 14 million permanent residents registered 2.36 million motor vehicles by 2012, up from 1.2 million in 2006. Vehicle emissions have been held as a key source of the persistent smog plaguing Tianjin, its neighbor Beijing and other cities in the northern region.