Date
17 December 2017

Hangzhou car plate quota sets off sales frenzy, CNS says

Hangzhou has had a mini-boom in new-car sales amid city government plans to put a quota on new car license plates, China News Service reported Wednesday. The municipal government officially announced the policy Tuesday night, saying that from Wednesday a limited number of new car plates will be distributed through lotteries and auctions. According to the local statistics authority, car sales in the city climbed 29.8 percent from a year earlier to 12.41 billion yuan (US$2 billion) in the first two months, the report said.

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