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July 10, 2013

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Plate prices to fall

SHANGHAI'S car plate prices may fall for the fourth straight month in July as the price ceiling for the first round of bidding continues to drop. The latest upward limit has been set at 75,400 yuan, based on the weighted average of successful bids from October to February, which is down 1,900 yuan from last month's maximum. Since the city government introduced the price mechanism in April to cool down the hype that turned car plates into "investment target," their prices have fallen about 13,000 yuan from the record high of more than 90,000 yuan back to the 80,000-yuan psychological benchmark.


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