Shanghai licence plate now world's most expensive

Shanghai (CNS) -- Car plate auctions take place regularly each month in Shanghai, as a major means to put the brake on private vehicle ownership against a backdrop of traffic tensions and environmental concerns in the city, according to the municipal government's Monday work meeting.

A traffic department official addressed the special meeting on energy conservation, emission reduction, climate change solutions, and eco-friendly industrial adjustments. License auctions remain one among many measures proposed to reduce private car use, such as congestion fees, parking charges based on where the car is registered, as well as traffic lanes dedicated to car pools or shared vehicles.

A certain number of plates are issued and sold every month in Shanghai, and the small slabs of iron sheeting can fetch as much as 50,000 yuan (US$ 7,907), crowning them the most expensive private vehicle licenses in the world.

Apart from the mentioned solution, promotion of the city's energy-efficient public transportation system is also high on the agenda, including increasing low-carbon buses and completing a full coverage of the metro network.