Monthly car plate quota set at 6,000

THE quota for license plates was set at 6,000 for August, 800 less than last month, Shanghai International Commodity Auction Co Ltd said in its announcement.

The auction for the plates will take place on August 23.

Among the 6,000 plates, 13 are for motorcycle plate owners and 198 are for company owners to change motorcycle plates to car plates.

The average price for a car plate in July fell 500 yuan (US$73.5) to 34,491 yuan from a month earlier. The lowest winning bid edged down to 33,800 yuan.

Both the average and lowest bid prices have dropped for three consecutive months.

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