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The history of Car restriction policies

In the early 1990s, the country’s first regulation to control the total number of passenger cars was introduced.

Shanghai the first mover.

Shanghai began to control passenger car registrations via an auction process in 1994. However, this didn’t stop the enthusiasm of Shanghai consumers to own a car, and in fact drove the prices of plates sky-high. In the first half of 2002, the average transaction price of a license plate was approximately 15,000 RMB (US $2,500), but by November 2013 when 38,220 people bid for the 8,500 license plates available, and prices reached 75,717 RMB (US $12,500) or the equivalent of small car from a domestic independent brand.

Compared to the auction system in Shanghai, Beijing created a lucky draw for license plates. …
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