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Car plate prices
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THE lowest price for a Hangzhou car plate rose to 40,800 yuan while the average price hit 47,785 yuan at last month’s car plate auction, four times the price at the first auction in May.
The average price paid by institutional buyers went up to 33,885 yuan, exceeding the 30,000 yuan mark for the first time. A bidder’s chance of winning has dropped to 0.955 percent, meaning one plate for every 105 bidders. The Hangzhou government will provide 80,000 car plates a year starting from May.
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