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Private sale of license plates set to end
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THE sale of secondhand car license plates in Shanghai is set to be consolidated within the auction system for new ones, the Shanghai Transport Commission said yesterday.
The commission has been studying the idea for some time and formulated a new policy several months ago, according to the commission’s spokesman Huang Xiaoyong.
Details of how the new system will work will be announced once the plan has been approved by the government, he said.
Under the current system, secondhand plates are sold either with a vehicle or separately.
The asking price is often higher than the average cost of a new one, which at last month’s auction was 73,785 yuan (US$12,000).
A company in the Pudong New Area says it buys secondhand plates for 100,000 yuan and sells them on for 115,000 to 120,000 yuan.
An employee said competition for the plates has intensified as “nobody knows when the trade will be banned.”
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