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September 27, 2012

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Plate prices expected to drop

SHANGHAI'S top traffic authority expects license plate prices to drop next month after the government increased the lock-up period from one to three years to damp speculation.

Sun Jianping, director with the Shanghai Transport and Port Administration, said yesterday it's time for plate prices "to cool down."

License plate prices soared to a record 66,425 yuan (US$10,528) earlier this month, up 25 percent from January.


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