License plates for private cars in Shanghai reach record high

According to People's Daily Online the average bid for private car license plates in Shanghai hit a record high:

54,000 yuan (7,267 U.S. dollars) in November, the second consecutive month prices surpassed 50,000 yuan. At a monthly auction on Saturday, the average bid for the 7,500license plates on offer was 54,317 yuan, a 6.5 percent increase from the 51,000 yuan average in October, according to an auction source.

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