Date
19 October 2017

Tianjin to launch car plate auction, lottery, paper says

The Tianjin municipal government will start a bidding and lottery system for car license plates on Wednesday, a move aimed at restricting the increase of cars, China Daily reported Tuesday, citing local authorities. Under a plan approved by the city government, 60 percent of the quota of 100,000 new car license plates will be issued via lottery, including 10,000 for fuel-efficient cars and 50,000 for conventional vehicles, the report said. The remaining 40,000 plates for conventional cars will be auctioned. The opening bid will be 10,000 yuan (US$1,652). A total of 88 percent of the plates will go to individual car owners, while non-individual applicants, such as companies, will compete for the other 12 percent, according to the report.

– Contact HKEJ [email protected]

SK/RC

 

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