Date
15 December 2017

Shanghai to auction 8,000 car plates this month, paper says

Shanghai will auction off 8,000 car plates in March, the same as last month, Shanghai Daily reported Friday, citing the Shanghai International Commodity Auction Co. This includes 7,400 for individual bidders and 600 for organizations, out of an annual quota of 100,000. The monthly quota is 9,000 for January, April and September to meet holiday demand, and 8,000 plates each month for the remainder of the year. The auction for individual bidders will be held next Saturday, under a price ceiling of 72,600 yuan (US$11,862) for first-round bids that often serve as an important gauge for the second and final rounds of the bidding, the report said.

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RA/CG

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