Eight people were lucky to win car plates in an auction yesterday at a bottom prize of 10,000 yuan (US$1,640). This month’s average bidding price was 44,175 yuan, 3,610 yuan less than in October. It was the first price drop since June.
The number of bidders also shrank from 3,417 in October to 1,577 this month. Among them, only 520 made a successful bidding, indicating a weak demand because car plates priced over 40,000 yuan are too expensive for many.
Meanwhile, 545,788 people will take part in a lottery today to win 4,693 car plates allotted for this month. Their chance of winning is 0.86 percent.
Source: Hangzhou International Center