Latest News:  
Beijing   Cloudy/Overcast    7 / 0   City Forecast

People's Daily Online>>China Society

Shanghai's car plate auction hits new high


08:32, March 19, 2012

SHANGHAI, March 18 (Xinhua) -- Prices of new license plates in Shanghai hit record high in March as enthusiasm for private-car ownership continued to grow despite government controls on new vehicle registration.

Shanghai is the only Chinese city to use an auction to control plate supply. In the monthly auction that ended this weekend, the average bid for a license plate was 58,625 yuan (9,380 U.S. dollars), up 5.37 percent from the February average, government data showed.

The lowest individual bid was 58,300 yuan in March, also a record high, according to the data.

The government said it released 8,000 new license plates this month for 24,897 individuals registered in the auction.

Auction records had been broken more than 10 times since the beginning of 2011.

China outpaced the United States as the world's largest auto market in 2009 but many of the country's big cities had already been struggling with recurring gridlock and other traffic-related issues. In 2010, Beijing started to impose a cap on monthly plate supply and introduce a lottery system to distribute the plates among aspirant buyers.


Leave your comment0 comments

  1. Name


Selections for you

  1. Premier Wen inspects Luohe in C. China's Henan

  2. Chinese sculptor works on Martin Luther King statue

  3. Pakistan on high alert amid terrorist attacks

  4. Four giant sperm whales found beached in Yancheng City

Most Popular


  1. Obama brings new trade case against China
  2. Giving is an aid to prosperity
  3. Rare earth case reveals US hypocrisy
  4. What international order should world build?
  5. Is morality improving or declining in China?
  6. China's development contributes world economy
  7. China's diplomacy needs courage and strategy
  8. Death penalty does not hold answer to corruption
  9. Socialist democracy to illuminate China's future
  10. Truth about Tibet is slowly coming to light

What's happening in China

G10 national highway influenced due to heavy snowfall

  1. China continues cleanup job of Singapore ship
  2. Reform plan for cash-strapped Wenzhou gets nod
  3. Heavy fog causes havoc on central China highway
  4. Shandong iron mine accident being investigated
  5. Price of green onions shoots up

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai