Date
21 August 2017

Shanghai to auction 100,000 vehicle licenses 2014, Xinhua says

The Shanghai Motor Vehicle License Office said Tuesday that it will auction around 100,000 motor vehicle license plates next year, Xinhua news agency reported Tuesday. It marked the first time the authority had announced the total license auction number for a full year upfront, the report noted. Around 10 percent of the licenses will be reserved for companies while the rest will go to individuals. The authority will introduce a “reference” license price of 72,600 yuan (US$11,958), which is the lowest reference price this year, to curb speculative activities in 2014, the report said.

– Contact HKEJ at [email protected]

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