Shanghai to Auction 7,500 Auto Plates in November

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    Shanghai will auction off 7,500 vehicle license plates to individuals and private companies on November 17, the same with last month's figure, Shanghai Morning Post reported on Wednesday.
Applicants can register at six spots in the city from November 10, including No. 108, Fuzhou Road.
The average winning bid during October's sale hit a record 51,000 yuan (US$6,836), an increase of 1,369 yuan from September. The lowest price climbed to 50,500 yuan, up from 48,600 yuan in September.
Shanghai is the only city on the Chinese mainland to auction car plates to individuals and private companies in order to ease traffic congestion and control pollution.
Car plate prices have topped 40,000 yuan since January and generally rise by 1,000 to 2,000 yuan each month despite city authorities insisted they will keep a tight rein on the licensing system amid surging demand.
   
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