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Plate prices up
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The average price at last month鈥檚 car plate auction was 28,096 yuan (US$4,606), up 1,985 yuan from April, while the lowest price was 25,500 yuan, up 1,500 yuan.
Last month鈥檚 price hike was lower than the previous month due to revised regulations that require bidders to have a driving license. In May, 5,339 people took part in the car plate auction, compared with 7,566 in April.
In the 12 months before May 1, Hangzhou issued 249,725 car plates through auction and lottery 鈥 a drop of more than 52 percent drop on a year earlier.
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