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Car plate auction numbers soar

A RECORD number of 8,000 car license plates will be auctioned this month, 800 more than last month.

This is the fourth month in a row the Shanghai government has raised the number of car plates to be auctioned in a bid to boost car sales and stimulate economic growth.

A source from the Shanghai government said earlier the number of car plates for auction this year will exceed 100,000, a 30 percent increase over last year's 84,500, the Oriental Morning Post reported today.

In the first half of the year, the number of car plates set for auction was 38,100. For the next six months, an average of more than 10,000 a month will be auctioned.

May saw the most cars sold for the first half of the year and December is expected to be another sales peak.

In May more than 7,200 car plates were auctioned, about 700 more than the previous month. The monthly auction attracted 16,471 bidders, 1,183 fewer than April. The average price for a car plate was 29,100 yuan (US$4,254).

This month's auction will be held on June 20.


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