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Car plate price surge
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The average price of car plates auctioned last month was 26,111 yuan 鈥 4,795 yuan more than the previous month.
It was the biggest price hike since the Hangzhou government set a price ceiling on bids last December.
The surge was partly attributed to an amendment to regulations requiring bidders to have a driving license, that takes effect this month.
Last month was the final opportunity for those without a driving license to bid for a plate. As well as the auction, the city also holds a lottery every month to issue car plates.
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